monday.com’s (MNDY) “Buy” Rating Reiterated at BTIG Research

BTIG Research reiterated their buy rating on shares of monday.com (NASDAQ:MNDY) in a report released on Thursday morning,Benzinga reports. They currently have a $210.00 target price on the stock.

MNDY has been the subject of a number of other research reports. Robert W. Baird lowered their price target on shares of monday.com from $240.00 to $210.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. Needham & Company LLC reiterated a “buy” rating and issued a $250.00 price objective on shares of monday.com in a research report on Thursday, September 18th. Weiss Ratings restated a “sell (d)” rating on shares of monday.com in a research report on Wednesday, October 8th. DA Davidson cut their price target on monday.com from $275.00 to $250.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Finally, Barclays lowered their price objective on monday.com from $202.00 to $194.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $257.39.

monday.com Stock Performance

Shares of NASDAQ:MNDY opened at $126.70 on Thursday. The business has a fifty day moving average of $149.16 and a 200-day moving average of $193.64. monday.com has a twelve month low of $126.41 and a twelve month high of $342.64. The firm has a market cap of $6.43 billion, a PE ratio of 103.01, a price-to-earnings-growth ratio of 2.91 and a beta of 1.26.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, November 10th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.27. The business had revenue of $316.86 million for the quarter, compared to the consensus estimate of $312.26 million. monday.com had a net margin of 5.58% and a return on equity of 5.99%. The firm’s quarterly revenue was up 26.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.85 EPS. On average, analysts anticipate that monday.com will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On monday.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNDY. NewEdge Advisors LLC grew its position in shares of monday.com by 2,120.0% during the 1st quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after buying an additional 106 shares during the period. Parallel Advisors LLC grew its holdings in monday.com by 130.9% during the second quarter. Parallel Advisors LLC now owns 598 shares of the company’s stock valued at $188,000 after purchasing an additional 339 shares during the period. Financiere des Professionnels Fonds d investissement inc. bought a new stake in monday.com in the second quarter valued at approximately $243,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in monday.com by 14.4% in the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 4,300 shares of the company’s stock worth $1,352,000 after purchasing an additional 541 shares during the period. Finally, Fulton Bank N.A. boosted its position in shares of monday.com by 7.2% during the second quarter. Fulton Bank N.A. now owns 3,397 shares of the company’s stock worth $1,068,000 after purchasing an additional 229 shares in the last quarter. Institutional investors own 73.70% of the company’s stock.

monday.com Company Profile

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.