monday.com (NASDAQ:MNDY) Stock Rating Upgraded by Wall Street Zen

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

Several other research firms also recently issued reports on MNDY. Capital One Financial downgraded shares of monday.com from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective on the stock. in a report on Monday, August 10th. Piper Sandler reissued a “neutral” rating and set a $90.00 target price on shares of monday.com in a research note on Monday, August 10th. Weiss Ratings restated a “sell (d+)” rating on shares of monday.com in a research report on Tuesday, September 8th. 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, Cantor Fitzgerald cut monday.com from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $112.00 to $90.00 in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, monday.com presently has an average rating of “Moderate Buy” and an average target price of $111.70.

monday.com Price Performance

Shares of MNDY opened at $84.29 on Monday. The company’s fifty day moving average price is $88.91 and its 200-day moving average price is $79.55. monday.com has a 1-year low of $57.50 and a 1-year high of $210.49. The firm has a market capitalization of $4.31 billion, a PE ratio of 35.87, a price-to-earnings-growth ratio of 1.86 and a beta of 1.14.

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, beating analysts’ consensus estimates of $1.11 by $0.37. The business had revenue of $364.62 million for the quarter, compared to analyst estimates of $355.55 million. monday.com had a return on equity of 9.09% and a net margin of 8.87%.The company’s revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 earnings per share. As a group, research analysts anticipate that monday.com will post 2.34 EPS for the current fiscal year.

Institutional Investors Weigh In On monday.com

Several hedge funds and other institutional investors have recently made changes to their positions in MNDY. Capital World Investors lifted its position in monday.com by 91.4% during the 4th quarter. Capital World Investors now owns 3,286,461 shares of the company’s stock worth $484,950,000 after acquiring an additional 1,569,198 shares during the period. Renaissance Technologies LLC grew its stake in shares of monday.com by 93.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock valued at $150,797,000 after purchasing an additional 1,052,900 shares during the last quarter. RPD Fund Management LLC acquired a new position in shares of monday.com in the first quarter valued at approximately $17,529,000. Fiera Capital Corp increased its holdings in shares of monday.com by 100.7% in the fourth quarter. Fiera Capital Corp now owns 273,530 shares of the company’s stock valued at $40,362,000 after purchasing an additional 137,275 shares during the period. Finally, Ibex Investors LLC raised its stake in shares of monday.com by 56.7% during the fourth quarter. Ibex Investors LLC now owns 282,000 shares of the company’s stock worth $41,612,000 after purchasing an additional 102,000 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

About monday.com

monday.com Ltd. develops cloud-based software designed to help organizations plan, manage and track work. Its platform provides customizable workflows, visual boards, dashboards, automations and collaboration tools that teams can use to coordinate projects, processes and day-to-day operations.

The company offers a portfolio of products built on its Work Operating System, including monday work management for project and task coordination, monday CRM for sales and customer-management activities, monday dev for software-development teams and monday service for service-management workflows.