monday.com (NASDAQ:MNDY) Stock Rating Upgraded by Zacks Research

monday.com (NASDAQ:MNDY) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a report released on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Barclays lifted their price objective on shares of monday.com from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. Wells Fargo & Company dropped their target price on monday.com from $130.00 to $120.00 and set an “overweight” rating on the stock in a report on Tuesday. Wall Street Zen upgraded monday.com from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of monday.com in a report on Thursday, June 11th. Finally, Citigroup lowered their price objective on monday.com from $154.00 to $132.00 and set a “buy” rating for the company in a research report on Tuesday. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $117.91.

monday.com Stock Up 9.7%

Shares of NASDAQ:MNDY opened at $94.29 on Wednesday. The firm’s 50 day moving average price is $80.67 and its 200 day moving average price is $78.52. The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 40.12, a price-to-earnings-growth ratio of 2.17 and a beta of 1.24. monday.com has a fifty-two week low of $57.50 and a fifty-two week high of $220.80.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.37. monday.com had a net margin of 8.87% and a return on equity of 8.10%. The company had revenue of $364.62 million during the quarter, compared to the consensus estimate of $355.55 million. During the same quarter in the previous year, the firm earned $1.09 earnings per share. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. On average, equities analysts anticipate that monday.com will post 2.09 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Capital World Investors lifted its stake in monday.com by 91.4% in the fourth quarter. Capital World Investors now owns 3,286,461 shares of the company’s stock valued at $484,950,000 after buying an additional 1,569,198 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of monday.com by 93.3% in the first quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock valued at $150,797,000 after acquiring an additional 1,052,900 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of monday.com by 15.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,274,910 shares of the company’s stock worth $188,126,000 after acquiring an additional 165,996 shares during the last quarter. State Street Corp grew its position in shares of monday.com by 3.8% during the fourth quarter. State Street Corp now owns 688,751 shares of the company’s stock worth $101,632,000 after acquiring an additional 25,009 shares during the last quarter. Finally, Alliancebernstein L.P. increased its holdings in shares of monday.com by 4.2% in the 2nd quarter. Alliancebernstein L.P. now owns 605,510 shares of the company’s stock valued at $190,421,000 after acquiring an additional 24,624 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

About monday.com

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.