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

monday.com Ltd. (NASDAQ:MNDY)’s share price reached a new 52-week high during mid-day trading 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. The stock had previously closed at $258.24.

A number of other equities analysts also recently commented on MNDY. Cantor Fitzgerald boosted their target price on shares of monday.com from $292.00 to $380.00 and gave the stock an “overweight” rating in a research note on Tuesday. Needham & Company LLC raised their target price on shares of monday.com from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday. Canaccord Genuity Group boosted their price target on monday.com from $310.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday. Piper Sandler boosted their price objective on shares of monday.com from $345.00 to $385.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Citigroup upgraded monday.com from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $302.00 to $298.00 in a research report on Thursday, January 16th. Four equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $353.32.

Institutional Trading of monday.com

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Prudential Financial Inc. grew its position in shares of monday.com by 1.3% in the fourth quarter. Prudential Financial Inc. now owns 4,122 shares of the company’s stock valued at $970,000 after purchasing an additional 53 shares during the period. Global Retirement Partners LLC raised its holdings in shares of monday.com by 64.8% during the 4th quarter. Global Retirement Partners LLC now owns 150 shares of the company’s stock valued at $35,000 after buying an additional 59 shares during the period. Avior Wealth Management LLC lifted its position in shares of monday.com by 2.6% during the third quarter. Avior Wealth Management LLC now owns 2,611 shares of the company’s stock worth $725,000 after purchasing an additional 67 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in monday.com by 7.6% in the 4th quarter. Venturi Wealth Management LLC now owns 1,076 shares of the company’s stock worth $253,000 after buying an additional 76 shares in the last quarter. Finally, Vestcor Inc boosted its holdings in monday.com by 16.0% in the fourth quarter. Vestcor Inc now owns 602 shares of the company’s stock valued at $142,000 after purchasing an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Stock Performance

The company has a market capitalization of $15.83 billion, a PE ratio of 799.80, a PEG ratio of 7.67 and a beta of 1.31. The company has a 50 day moving average price of $251.31 and a 200 day moving average price of $262.68.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.50 EPS 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%. On average, equities analysts forecast that monday.com Ltd. will post 0.85 earnings per share 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.