Wells Fargo & Company Forecasts Strong Price Appreciation for monday.com (NASDAQ:MNDY) Stock

monday.com (NASDAQ:MNDY) had its target price lifted by research analysts at Wells Fargo & Company from $340.00 to $380.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price indicates a potential upside of 19.60% from the company’s current price.

Several other equities research analysts also recently commented on the company. KeyCorp raised monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 target price on the stock in a report on Tuesday. Cantor Fitzgerald initiated coverage on shares of monday.com in a research note on Friday, January 17th. They issued an “overweight” rating and a $292.00 price target on the stock. Piper Sandler raised 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. Scotiabank dropped their target price on shares of monday.com from $325.00 to $300.00 and set a “sector outperform” rating on the stock in a research note on Thursday, January 16th. Finally, Jefferies Financial Group reduced their price target on shares of monday.com from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Tuesday, January 21st. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $353.32.

monday.com Price Performance

Shares of monday.com stock opened at $317.73 on Tuesday. monday.com has a 1 year low of $174.75 and a 1 year high of $342.64. The company has a 50-day moving average of $251.81 and a 200 day moving average of $263.06. The firm has a market cap of $15.34 billion, a price-to-earnings ratio of 774.95, a PEG ratio of 7.67 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last announced its earnings results on Monday, February 10th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a net margin of 2.39% and a return on equity of 4.99%. On average, equities analysts anticipate that monday.com will post 0.85 EPS for the current year.

Institutional Trading of monday.com

Several large investors have recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC bought a new position in monday.com in the fourth quarter worth approximately $25,000. Arcadia Investment Management Corp MI purchased a new stake in shares of monday.com in the 4th quarter worth $28,000. R Squared Ltd bought a new position in monday.com in the 4th quarter worth $33,000. Signaturefd LLC lifted its position in monday.com by 157.1% during the fourth quarter. Signaturefd LLC now owns 144 shares of the company’s stock valued at $34,000 after purchasing an additional 88 shares in the last quarter. Finally, Global Retirement Partners LLC raised its stake in shares of monday.com by 64.8% in the fourth quarter. Global Retirement Partners LLC now owns 150 shares of the company’s stock worth $35,000 after buying an additional 59 shares during the period. 73.70% of the stock is currently owned by institutional investors.

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.