monday.com (NASDAQ:MNDY) Price Target Increased to $340.00 by Analysts at The Goldman Sachs Group

monday.com (NASDAQ:MNDY) had its target price lifted by The Goldman Sachs Group from $300.00 to $340.00 in a research report report published on Tuesday, Benzinga reports. The firm currently has a buy rating on the stock.

Other analysts have also issued research reports about the company. Wells Fargo & Company upped their price objective on monday.com from $260.00 to $275.00 and gave the company an overweight rating in a report on Thursday, May 16th. Piper Sandler restated an overweight rating and set a $300.00 price objective (up previously from $270.00) on shares of monday.com in a research report on Monday, August 12th. Wolfe Research started coverage on shares of monday.com in a report on Tuesday, July 9th. They issued an outperform rating and a $300.00 target price on the stock. William Blair restated an outperform rating on shares of monday.com in a report on Monday, June 24th. Finally, Robert W. Baird upped their price target on monday.com from $250.00 to $265.00 and gave the company a neutral rating in a report on Tuesday. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, monday.com currently has a consensus rating of Moderate Buy and a consensus price target of $282.63.

monday.com Trading Up 1.0 %

MNDY stock opened at $263.38 on Tuesday. The firm’s 50-day moving average is $232.24 and its two-hundred day moving average is $219.93. The company has a market capitalization of $12.72 billion, a price-to-earnings ratio of 693.11, a price-to-earnings-growth ratio of 43.41 and a beta of 1.30. monday.com has a 52 week low of $122.13 and a 52 week high of $265.97.

monday.com (NASDAQ:MNDY) last announced its earnings results on Wednesday, May 15th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of ($0.11) by $0.25. The firm had revenue of $216.91 million for the quarter, compared to analysts’ expectations of $210.33 million. monday.com had a return on equity of 2.42% and a net margin of 2.53%. On average, equities research analysts predict that monday.com will post 0.12 earnings per share for the current year.

Hedge Funds Weigh In On monday.com

Several institutional investors and hedge funds have recently modified their holdings of the stock. Sei Investments Co. increased its holdings in monday.com by 63.9% in the first quarter. Sei Investments Co. now owns 107,331 shares of the company’s stock worth $24,243,000 after buying an additional 41,840 shares during the last quarter. Raymond James & Associates grew its position in monday.com by 55.2% in the fourth quarter. Raymond James & Associates now owns 12,525 shares of the company’s stock worth $2,352,000 after acquiring an additional 4,457 shares in the last quarter. M&G Investment Management Ltd. increased its stake in shares of monday.com by 8.5% during the 4th quarter. M&G Investment Management Ltd. now owns 48,347 shares of the company’s stock worth $9,089,000 after purchasing an additional 3,796 shares during the last quarter. Norden Group LLC bought a new position in shares of monday.com during the 1st quarter valued at $840,000. Finally, Boulder Hill Capital Management LP acquired a new stake in shares of monday.com in the 4th quarter valued at $2,197,000. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

About monday.com

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.