monday.com (NASDAQ:MNDY) Stock Rating Reaffirmed as “Buy” by BTIG Research

monday.com (NASDAQ:MNDY)‘s stock had its “buy” rating reissued by stock analysts at BTIG Research in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $105.00 price target on the stock. BTIG Research‘s price objective would suggest a potential upside of 7.34% from the stock’s current price.

Several other analysts have also weighed in on the company. Citigroup lowered their price objective on monday.com from $154.00 to $132.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Jefferies Financial Group reaffirmed a “hold” rating and set a $95.00 target price on shares of monday.com in a report on Monday, August 10th. Wells Fargo & Company decreased their target price on monday.com from $130.00 to $120.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Piper Sandler reiterated a “neutral” rating and issued a $90.00 price target on shares of monday.com in a report on Monday, August 10th. Finally, Cantor Fitzgerald lowered monday.com from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $112.00 to $90.00 in a research report on Monday, August 10th. Thirteen research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $111.70.

monday.com Price Performance

Shares of MNDY stock opened at $97.82 on Thursday. The firm has a fifty day moving average of $90.62 and a two-hundred day moving average of $84.51. The firm has a market cap of $5.00 billion, a P/E ratio of 41.63, a P/E/G ratio of 2.40 and a beta of 1.14. monday.com has a 1-year low of $57.50 and a 1-year high of $210.49.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, August 10th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.11 by $0.37. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The business had revenue of $364.62 million for the quarter, compared to analysts’ expectations of $355.55 million. During the same quarter last year, the company posted $1.09 earnings per share. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. On average, sell-side analysts expect that monday.com will post 2.34 EPS for the current year.

Insider Buying and Selling at monday.com

In related news, Director Aviad Eyal sold 2,000 shares of the stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $100.04, for a total transaction of $200,080.00. Following the sale, the director owned 203,455 shares in the company, valued at $20,353,638.20. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On monday.com

A number of large investors have recently bought and sold shares of MNDY. SEB Asset Management AB bought a new position in shares of monday.com during the first quarter valued at approximately $1,639,000. Swiss National Bank raised its position in shares of monday.com by 28.6% during the 1st quarter. Swiss National Bank now owns 159,100 shares of the company’s stock worth $10,995,000 after purchasing an additional 35,400 shares during the period. Empowered Funds LLC lifted its holdings in shares of monday.com by 4,194.6% in the 1st quarter. Empowered Funds LLC now owns 14,430 shares of the company’s stock worth $997,000 after purchasing an additional 14,094 shares during the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of monday.com in the 2nd quarter worth approximately $970,000. Finally, Arkadios Wealth Advisors bought a new stake in shares of monday.com in the 1st quarter worth approximately $1,534,000. Institutional investors own 73.70% of the company’s stock.

About monday.com

monday.com Ltd. is a software company that provides a cloud-based Work Operating System (Work OS) designed to help organizations manage projects, workflows and business operations. Its platform uses configurable boards, dashboards, automations, integrations and collaboration tools, enabling teams to organize work and build workflows without extensive software development.

The company offers products tailored to several business functions, including monday work management for project and task coordination, monday CRM for sales and customer relationship processes, monday dev for software development teams, and monday service for managing customer support and service operations.