monday.com (NASDAQ:MNDY) Rating Increased to Strong-Buy at Zacks Research

monday.com (NASDAQ:MNDY) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Wednesday,Zacks.com reports.

A number of other equities research analysts also recently issued reports on the company. Wall Street Zen raised monday.com from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. TD Cowen reaffirmed a “buy” rating and issued a $110.00 price objective on shares of monday.com in a report on Tuesday. Wells Fargo & Company cut their price objective on shares of monday.com from $130.00 to $120.00 and set an “overweight” rating for the company in a research report on Tuesday. Barclays increased their price objective on shares of monday.com from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Finally, Wolfe Research downgraded shares of monday.com from an “outperform” rating to a “peer perform” rating in a report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $117.91.

monday.com Stock Performance

MNDY opened at $94.29 on Wednesday. monday.com has a fifty-two week low of $57.50 and a fifty-two week high of $220.80. The company has a market capitalization of $4.82 billion, a P/E ratio of 40.12, a P/E/G ratio of 2.17 and a beta of 1.24. The stock has a fifty day moving average of $80.67 and a 200-day moving average of $78.52.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share 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 8.10%. The business had revenue of $364.62 million during the quarter, compared to analysts’ expectations of $355.55 million. During the same quarter in the previous year, the company earned $1.09 EPS. The business’s revenue was up 21.9% on a year-over-year basis. On average, equities research analysts predict that monday.com will post 2.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in MNDY. NewEdge Advisors LLC boosted its stake in shares of monday.com by 2,120.0% in the 1st quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after purchasing an additional 106 shares in the last quarter. Advisory Services Network LLC acquired a new position in monday.com during the 3rd quarter worth approximately $28,000. EverSource Wealth Advisors LLC lifted its stake in monday.com by 76.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $47,000 after purchasing an additional 65 shares during the last quarter. Quarry LP bought a new stake in shares of monday.com during the fourth quarter worth $29,000. Finally, Huntington National Bank grew its stake in shares of monday.com by 6,040.0% during the fourth quarter. Huntington National Bank now owns 307 shares of the company’s stock worth $45,000 after buying an additional 302 shares during 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.