monday.com Ltd. (NASDAQ:MNDY) Receives $297.60 Average Price Target from Analysts

monday.com Ltd. (NASDAQ:MNDY) has received an average recommendation of “Moderate Buy” from the twenty-two research firms that are presently covering the stock, MarketBeat.com reports. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $303.35.

Several research analysts have recently weighed in on MNDY shares. Capital One Financial started coverage on shares of monday.com in a report on Thursday, October 10th. They set an “overweight” rating and a $325.00 price objective on the stock. Piper Sandler increased their target price on shares of monday.com from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Monday. Bank of America increased their target price on shares of monday.com from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Needham & Company LLC reissued a “buy” rating and set a $300.00 target price on shares of monday.com in a research report on Thursday, September 26th. Finally, The Goldman Sachs Group increased their price objective on shares of monday.com from $300.00 to $340.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th.

monday.com Stock Up 5.2 %

NASDAQ:MNDY opened at $297.27 on Friday. The company has a market capitalization of $14.35 billion, a PE ratio of 782.29, a price-to-earnings-growth ratio of 13.68 and a beta of 1.32. monday.com has a 52-week low of $122.13 and a 52-week high of $297.27. The stock has a fifty day simple moving average of $269.32 and a 200-day simple moving average of $236.51.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.23. The company had revenue of $236.11 million for the quarter, compared to analyst estimates of $227.96 million. monday.com had a net margin of 4.88% and a return on equity of 4.74%. As a group, equities analysts anticipate that monday.com will post 0.49 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

Several institutional investors have recently made changes to their positions in the company. Sei Investments Co. increased its position in monday.com by 63.9% in the 1st quarter. Sei Investments Co. now owns 107,331 shares of the company’s stock worth $24,243,000 after buying an additional 41,840 shares during the period. Norden Group LLC acquired a new stake in monday.com in the 1st quarter valued at $840,000. Bessemer Group Inc. acquired a new stake in monday.com in the 1st quarter valued at $1,314,000. Toth Financial Advisory Corp acquired a new stake in monday.com in the 1st quarter valued at $782,000. Finally, Swiss National Bank boosted its stake in monday.com by 4.1% in the 1st quarter. Swiss National Bank now owns 86,400 shares of the company’s stock valued at $19,515,000 after buying an additional 3,400 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

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.