monday.com (NASDAQ:MNDY) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

monday.com (NASDAQ:MNDY) had its target price hoisted by research analysts at The Goldman Sachs Group from $350.00 to $400.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 25.89% from the stock’s current price.

A number of other brokerages also recently commented on MNDY. Jefferies Financial Group increased their price target on monday.com from $300.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday. DA Davidson lifted their target price on monday.com from $300.00 to $350.00 and gave the stock a “neutral” rating in a research note on Tuesday. Canaccord Genuity Group boosted their price target on shares of monday.com from $310.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday. KeyCorp upgraded shares of monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 price objective for the company in a report on Tuesday. Finally, William Blair reiterated an “outperform” rating on shares of monday.com in a research note on Wednesday, December 18th. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, monday.com currently has a consensus rating of “Moderate Buy” and an average target price of $353.32.

monday.com Trading Down 3.1 %

Shares of NASDAQ:MNDY opened at $317.73 on Tuesday. The stock has a market cap of $15.34 billion, a PE ratio of 774.95, a price-to-earnings-growth ratio of 7.67 and a beta of 1.31. The stock’s fifty day simple moving average is $251.81 and its two-hundred day simple moving average is $263.06. monday.com has a 1-year low of $174.75 and a 1-year high of $342.64.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, February 10th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a net margin of 2.39% and a return on equity of 4.99%. On average, sell-side analysts forecast that monday.com will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On monday.com

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC bought a new position in monday.com in the 2nd quarter worth about $285,000. Inspire Investing LLC purchased a new stake in monday.com in the third quarter valued at approximately $870,000. Sapient Capital LLC bought a new stake in monday.com during the third quarter valued at approximately $1,282,000. Chicago Capital LLC grew its stake in monday.com by 18.9% in the 3rd quarter. Chicago Capital LLC now owns 1,795 shares of the company’s stock worth $499,000 after buying an additional 285 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in monday.com by 431.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock worth $107,176,000 after buying an additional 313,279 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

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.