monday.com’s (MNDY) “Buy” Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of monday.com (NASDAQ:MNDY) in a research note published on Tuesday, Benzinga reports. The brokerage currently has a $230.00 price target on the stock.

A number of other analysts also recently issued reports on MNDY. Tigress Financial raised their price target on shares of monday.com from $240.00 to $280.00 and gave the company a buy rating in a report on Tuesday, March 5th. DA Davidson reaffirmed a neutral rating and set a $190.00 price target on shares of monday.com in a report on Tuesday, February 13th. Oppenheimer raised their price target on shares of monday.com from $220.00 to $240.00 and gave the company an outperform rating in a report on Tuesday, February 13th. Piper Sandler reaffirmed an overweight rating and set a $250.00 price target on shares of monday.com in a report on Tuesday, February 13th. Finally, Canaccord Genuity Group dropped their price target on shares of monday.com from $250.00 to $220.00 and set a buy rating on the stock in a report on Monday, April 22nd. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, monday.com has a consensus rating of Moderate Buy and a consensus price target of $240.00.

monday.com Stock Performance

Shares of MNDY stock opened at $189.33 on Tuesday. monday.com has a one year low of $108.35 and a one year high of $239.22. The company’s 50-day moving average is $210.99 and its 200 day moving average is $190.92. The company has a market capitalization of $9.14 billion, a price-to-earnings ratio of -2,704.33 and a beta of 1.18.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, February 12th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.32 by $0.33. monday.com had a negative net margin of 0.26% and a negative return on equity of 0.43%. The company had revenue of $202.60 million for the quarter, compared to the consensus estimate of $197.97 million. During the same period in the prior year, the firm posted ($0.03) EPS. monday.com’s revenue for the quarter was up 35.5% on a year-over-year basis. As a group, research analysts predict that monday.com will post -0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On monday.com

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Raymond James & Associates raised its stake in monday.com by 55.2% during the 4th quarter. Raymond James & Associates now owns 12,525 shares of the company’s stock worth $2,352,000 after acquiring an additional 4,457 shares during the period. International Assets Investment Management LLC bought a new stake in monday.com during the 4th quarter worth approximately $25,925,000. Sumitomo Mitsui Trust Holdings Inc. raised its stake in monday.com by 19.9% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 47,864 shares of the company’s stock worth $8,989,000 after acquiring an additional 7,955 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake in monday.com by 58.0% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 156,609 shares of the company’s stock worth $29,413,000 after acquiring an additional 57,500 shares during the period. Finally, Jackson Square Capital LLC bought a new stake in monday.com during the 4th quarter worth approximately $1,647,000. Institutional investors own 73.70% of the company’s stock.

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.