monday.com’s (MNDY) “Overweight” Rating Reiterated at Piper Sandler

Piper Sandler reissued their overweight rating on shares of monday.com (NASDAQ:MNDY) in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a $350.00 price objective on the stock.

MNDY has been the topic of a number of other research reports. Robert W. Baird boosted their price target on monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Loop Capital boosted their target price on shares of monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Wells Fargo & Company raised their price target on shares of monday.com from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. DA Davidson reissued a “neutral” rating and set a $300.00 price objective on shares of monday.com in a report on Tuesday, November 12th. Finally, Needham & Company LLC upped their target price on monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $309.62.

monday.com Stock Up 7.9 %

NASDAQ:MNDY opened at $242.49 on Wednesday. The stock has a market capitalization of $11.71 billion, a price-to-earnings ratio of 591.44, a PEG ratio of 7.75 and a beta of 1.25. monday.com has a 52 week low of $170.00 and a 52 week high of $324.99. The firm has a 50 day moving average of $282.23 and a 200 day moving average of $258.65.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.61 by $0.24. The firm had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The business’s revenue for the quarter was up 49.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.15 EPS. As a group, analysts expect that monday.com will post 0.85 EPS for the current year.

Hedge Funds Weigh In On monday.com

Several large investors have recently made changes to their positions in MNDY. Mirae Asset Global Investments Co. Ltd. acquired a new stake in monday.com during the third quarter valued at $43,000. Ridgewood Investments LLC purchased a new stake in shares of monday.com during the 2nd quarter worth about $45,000. Gilliland Jeter Wealth Management LLC grew its position in shares of monday.com by 72.9% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after acquiring an additional 102 shares during the period. Toronto Dominion Bank purchased a new position in shares of monday.com in the 2nd quarter valued at about $120,000. Finally, Vestcor Inc increased its stake in shares of monday.com by 31.4% in the 3rd quarter. Vestcor Inc now owns 519 shares of the company’s stock valued at $144,000 after purchasing an additional 124 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

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.