monday.com (NASDAQ:MNDY) Receives New Coverage from Analysts at Loop Capital

Loop Capital initiated coverage on shares of monday.com (NASDAQ:MNDYGet Rating) in a research report released on Monday, The Fly reports. The firm issued a buy rating and a $175.00 price objective on the stock.

Several other equities analysts also recently commented on MNDY. Cowen upped their price target on shares of monday.com from $150.00 to $180.00 and gave the company an outperform rating in a report on Tuesday, August 9th. Cowen upped their price target on shares of monday.com from $150.00 to $180.00 in a research report on Tuesday, August 9th. Piper Sandler increased their target price on shares of monday.com from $150.00 to $180.00 and gave the company an overweight rating in a research report on Tuesday, August 9th. Canaccord Genuity Group increased their target price on shares of monday.com from $150.00 to $165.00 and gave the company a buy rating in a research report on Tuesday, August 9th. Finally, Tigress Financial decreased their price target on shares of monday.com from $432.00 to $240.00 in a report on Wednesday, June 1st. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $220.08.

monday.com Stock Up 7.7 %

Shares of MNDY opened at $140.35 on Monday. monday.com has a twelve month low of $85.75 and a twelve month high of $450.00. The company has a market capitalization of $6.20 billion, a P/E ratio of -36.27 and a beta of 1.82. The firm has a 50 day moving average of $116.02 and a 200 day moving average of $124.49.

monday.com (NASDAQ:MNDYGet Rating) last issued its quarterly earnings data on Monday, August 8th. The company reported ($1.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.35) by $0.34. The firm had revenue of $123.70 million during the quarter, compared to the consensus estimate of $118.22 million. monday.com had a negative net margin of 42.31% and a negative return on equity of 25.09%. The company’s revenue for the quarter was up 75.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.67) EPS. On average, sell-side analysts expect that monday.com will post -4.94 EPS for the current year.

Institutional Trading of monday.com

A number of hedge funds and other institutional investors have recently made changes to their positions in MNDY. Tiger Global Management LLC increased its stake in shares of monday.com by 937.9% in the first quarter. Tiger Global Management LLC now owns 2,075,846 shares of the company’s stock worth $328,129,000 after acquiring an additional 1,875,846 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of monday.com by 47.0% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,091,710 shares of the company’s stock worth $215,781,000 after acquiring an additional 668,816 shares during the period. Sumitomo Mitsui Trust Holdings Inc. acquired a new stake in monday.com during the second quarter valued at $33,056,000. Renaissance Technologies LLC grew its position in monday.com by 109.3% during the second quarter. Renaissance Technologies LLC now owns 416,800 shares of the company’s stock valued at $42,997,000 after buying an additional 217,700 shares during the period. Finally, Anatole Investment Management Ltd acquired a new stake in monday.com during the fourth quarter valued at $62,137,000. Institutional investors and hedge funds own 64.64% of the company’s stock.

monday.com Company Profile

(Get Rating)

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, and internationally. It 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.

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