monday.com (NASDAQ:MNDY) Sets New 52-Week High After Analyst Upgrade

monday.com Ltd. (NASDAQ:MNDY)’s stock price reached a new 52-week high on Monday after The Goldman Sachs Group raised their price target on the stock from $350.00 to $400.00. The Goldman Sachs Group currently has a buy rating on the stock. monday.com traded as high as $334.30 and last traded at $332.76, with a volume of 1742926 shares changing hands. The stock had previously closed at $258.24.

Several other equities research analysts have also issued reports on MNDY. JPMorgan Chase & Co. raised their target price on shares of monday.com from $350.00 to $400.00 and gave the stock an “overweight” rating in a report on Tuesday. Robert W. Baird boosted their target price on monday.com from $275.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday. Barclays upped their target price on monday.com from $325.00 to $360.00 and gave the company an “overweight” rating in a research note on Tuesday. Loop Capital decreased their price target on monday.com from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Finally, Oppenheimer upped their price objective on monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat, monday.com has a consensus rating of “Moderate Buy” and an average target price of $353.32.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC bought a new position in shares of monday.com during the 2nd quarter worth approximately $285,000. Inspire Investing LLC purchased a new position in monday.com in the third quarter worth $870,000. Sapient Capital LLC acquired a new position in shares of monday.com during the third quarter worth $1,282,000. Chicago Capital LLC lifted its holdings in shares of monday.com by 18.9% during the 3rd quarter. Chicago Capital LLC now owns 1,795 shares of the company’s stock valued at $499,000 after purchasing an additional 285 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in shares of monday.com by 431.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock worth $107,176,000 after purchasing an additional 313,279 shares in the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

monday.com Stock Performance

The company has a 50 day moving average of $251.31 and a two-hundred day moving average of $262.68. The stock has a market capitalization of $15.83 billion, a PE ratio of 799.80, a P/E/G ratio of 7.67 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a return on equity of 4.99% and a net margin of 2.39%. As a group, research analysts predict that monday.com Ltd. will post 0.85 EPS for the current fiscal year.

monday.com Company Profile

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.