monday.com Ltd. (NASDAQ:MNDY) Receives $309.14 Consensus PT from Brokerages

Shares of monday.com Ltd. (NASDAQ:MNDY) have earned a consensus rating of “Moderate Buy” from the twenty-two analysts that are covering the stock, Marketbeat reports. Six analysts have rated the stock with a hold recommendation, fifteen have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $313.10.

MNDY has been the topic of several research reports. Scotiabank assumed coverage on shares of monday.com in a research report on Tuesday, November 19th. They issued a “sector outperform” rating and a $325.00 price target on the stock. Wells Fargo & Company boosted their target price on shares of monday.com from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, November 4th. William Blair restated an “outperform” rating on shares of monday.com in a research report on Wednesday, December 18th. Citigroup reduced their price target on monday.com from $338.00 to $302.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Finally, Needham & Company LLC increased their price objective on monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th.

monday.com Price Performance

NASDAQ:MNDY opened at $235.25 on Wednesday. The company has a market capitalization of $11.36 billion, a P/E ratio of 573.78, a P/E/G ratio of 7.61 and a beta of 1.25. The business has a fifty day simple moving average of $271.21 and a two-hundred day simple moving average of $259.85. monday.com has a 1 year low of $170.00 and a 1 year high of $324.99.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.24. The company 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 firm’s revenue for the quarter was up 49.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.15 EPS. As a group, analysts anticipate that monday.com will post 0.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in monday.com by 112.0% during the third quarter. FMR LLC now owns 1,512,094 shares of the company’s stock worth $420,014,000 after purchasing an additional 798,791 shares during the last quarter. Jennison Associates LLC lifted its position in monday.com by 77.5% in the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock worth $202,905,000 after buying an additional 318,837 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in 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 buying an additional 313,279 shares during the last quarter. Renaissance Technologies LLC boosted its stake in monday.com by 20.2% in the second quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock worth $270,299,000 after buying an additional 188,800 shares in the last quarter. Finally, 1832 Asset Management L.P. grew its position in monday.com by 34.4% during the second quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock valued at $160,707,000 after acquiring an additional 170,800 shares during the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

About monday.com

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.