monday.com’s (MNDY) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of monday.com (NASDAQ:MNDY) in a research report released on Thursday, Benzinga reports. The firm currently has a $300.00 price target on the stock.

A number of other research analysts also recently weighed in on MNDY. Wolfe Research began coverage on shares of monday.com in a research report on Tuesday, July 9th. They set an outperform rating and a $300.00 price objective on the stock. UBS Group increased their price target on shares of monday.com from $240.00 to $280.00 and gave the stock a neutral rating in a research report on Tuesday, August 13th. TD Cowen increased their price target on shares of monday.com from $275.00 to $300.00 and gave the stock a buy rating in a research report on Tuesday, August 13th. Bank of America increased their price target on shares of monday.com from $280.00 to $300.00 and gave the stock a buy rating in a research report on Tuesday, August 13th. Finally, JPMorgan Chase & Co. raised their price objective on monday.com from $270.00 to $300.00 and gave the stock an overweight rating in a research note on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $294.84.

monday.com Stock Down 0.4 %

Shares of monday.com stock opened at $271.97 on Thursday. The company has a market cap of $13.13 billion, a price-to-earnings ratio of 715.71, a price-to-earnings-growth ratio of 13.58 and a beta of 1.32. The company’s 50 day moving average is $250.46 and its 200 day moving average is $229.05. monday.com has a twelve month low of $122.13 and a twelve month high of $285.64.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, August 12th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.23. The company had revenue of $236.11 million for the quarter, compared to the consensus estimate of $227.96 million. monday.com had a net margin of 4.88% and a return on equity of 4.74%. Sell-side analysts expect that monday.com will post 0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. WCM Investment Management LLC bought a new stake in monday.com in the first quarter worth $728,521,000. Baillie Gifford & Co. bought a new stake in shares of monday.com in the 1st quarter worth about $76,534,000. Clearbridge Investments LLC raised its position in shares of monday.com by 2,851.5% during the 1st quarter. Clearbridge Investments LLC now owns 344,525 shares of the company’s stock valued at $77,818,000 after buying an additional 332,852 shares in the last quarter. Eventide Asset Management LLC lifted its holdings in shares of monday.com by 100.3% in the 4th quarter. Eventide Asset Management LLC now owns 407,870 shares of the company’s stock valued at $76,602,000 after acquiring an additional 204,253 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in monday.com by 20.2% in the second quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock worth $270,299,000 after acquiring an additional 188,800 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

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.