monday.com (NASDAQ:MNDY) Earns Overweight Rating from Analysts at Cantor Fitzgerald

Cantor Fitzgerald started coverage on shares of monday.com (NASDAQ:MNDY) in a research report issued to clients and investors on Friday,Briefing.com Automated Import reports. The brokerage set an “overweight” rating and a $292.00 price target on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 21.36% from the company’s previous close.

Other analysts have also issued research reports about the company. Scotiabank cut their price objective on monday.com from $325.00 to $300.00 and set a “sector outperform” rating for the company in a report on Thursday. TD Cowen upped their price target on shares of monday.com from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Oppenheimer raised their price objective on shares of monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Loop Capital cut their target price on shares of monday.com from $310.00 to $300.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Finally, Needham & Company LLC increased their price target on shares of monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Based on data from MarketBeat.com, monday.com presently has an average rating of “Moderate Buy” and a consensus price target of $310.48.

monday.com Stock Performance

MNDY opened at $240.61 on Friday. The company’s 50-day simple moving average is $257.66 and its two-hundred day simple moving average is $259.36. The stock has a market capitalization of $11.62 billion, a P/E ratio of 586.85, a P/E/G ratio of 5.41 and a beta of 1.30. monday.com has a 52-week low of $174.75 and a 52-week high of $324.99.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The company had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. During the same quarter in the prior year, the firm earned $0.15 earnings per share. The firm’s revenue for the quarter was up 49.5% compared to the same quarter last year. Research analysts forecast that monday.com will post 0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On monday.com

Institutional investors and hedge funds have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of monday.com during the third quarter worth $43,000. Toronto Dominion Bank bought a new position in shares of monday.com during the 2nd quarter valued at about $120,000. Vestcor Inc boosted its holdings in shares of monday.com by 31.4% during the 3rd quarter. Vestcor Inc now owns 519 shares of the company’s stock valued at $144,000 after purchasing an additional 124 shares during the last quarter. Larson Financial Group LLC grew its position in shares of monday.com by 645.7% during the third quarter. Larson Financial Group LLC now owns 604 shares of the company’s stock valued at $168,000 after purchasing an additional 523 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its position in shares of monday.com by 18.2% in the third quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company’s stock worth $181,000 after buying an additional 100 shares in the last quarter. 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.