monday.com (NASDAQ:MNDY) Raised to Buy at Wall Street Zen

monday.com (NASDAQ:MNDY) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

MNDY has been the topic of several other reports. Wells Fargo & Company lowered their price objective on monday.com from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Piper Sandler reaffirmed a “neutral” rating and issued a $90.00 price target on shares of monday.com in a research note on Monday, August 10th. Citigroup lowered their price target on monday.com from $154.00 to $132.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Jefferies Financial Group reiterated a “hold” rating and set a $95.00 price objective on shares of monday.com in a research note on Monday, August 10th. Finally, Capital One Financial cut monday.com from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $117.91.

monday.com Stock Performance

Shares of MNDY opened at $85.13 on Friday. The company has a 50-day simple moving average of $88.12 and a 200-day simple moving average of $79.02. The firm has a market capitalization of $4.36 billion, a P/E ratio of 36.23, a P/E/G ratio of 1.99 and a beta of 1.15. monday.com has a 52 week low of $57.50 and a 52 week high of $220.80.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.37. monday.com had a return on equity of 9.09% and a net margin of 8.87%.The company had revenue of $364.62 million for the quarter, compared to analyst estimates of $355.55 million. During the same quarter last year, the firm earned $1.09 EPS. monday.com’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, equities analysts forecast that monday.com will post 2.25 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

Large investors have recently bought and sold shares of the business. Capital World Investors grew its holdings in shares of monday.com by 91.4% during the fourth quarter. Capital World Investors now owns 3,286,461 shares of the company’s stock worth $484,950,000 after purchasing an additional 1,569,198 shares during the last quarter. Renaissance Technologies LLC raised 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 buying an additional 1,052,900 shares during the last quarter. Norges Bank bought a new position in shares of monday.com in the fourth quarter valued at about $79,789,000. RPD Fund Management LLC acquired a new position in monday.com during the 1st quarter worth about $17,529,000. Finally, BNP Paribas Financial Markets increased its position in monday.com by 1,517.6% in the 4th quarter. BNP Paribas Financial Markets now owns 172,016 shares of the company’s stock valued at $25,383,000 after acquiring an additional 161,382 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors.

monday.com Company Profile

monday.com Ltd. is a software company that provides cloud-based work management and productivity solutions for organizations of various sizes. Its platform is designed to help teams plan projects, manage workflows, coordinate tasks, track progress and collaborate across departments.

The company’s product portfolio includes monday work management, monday CRM, monday dev and monday service. These products support functions such as project and portfolio management, customer relationship management, software development, IT service management and business process automation.