monday.com (NASDAQ:MNDY) Given New $345.00 Price Target at Piper Sandler

monday.com (NASDAQ:MNDY) had its target price reduced by Piper Sandler from $350.00 to $345.00 in a research note released on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages also recently issued reports on MNDY. Oppenheimer lifted their target price on monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Needham & Company LLC lifted their price target on monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. William Blair reiterated an “outperform” rating on shares of monday.com in a research report on Wednesday, December 18th. Canaccord Genuity Group raised their price target on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, Citigroup lowered their price objective on shares of monday.com from $338.00 to $302.00 and set a “neutral” rating for the company in a research report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating, fifteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $312.85.

monday.com Stock Performance

MNDY stock opened at $237.00 on Monday. The business’s 50-day moving average is $270.00 and its two-hundred day moving average is $259.99. monday.com has a fifty-two week low of $174.75 and a fifty-two week high of $324.99. The company has a market cap of $11.44 billion, a price-to-earnings ratio of 578.05, a P/E/G ratio of 7.61 and a beta of 1.30.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.24. The business had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. monday.com had a return on equity of 4.99% and a net margin of 2.39%. monday.com’s revenue for the quarter was up 49.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.15 earnings per share. Equities analysts predict that monday.com will post 0.85 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNDY. Mirae Asset Global Investments Co. Ltd. acquired a new stake in monday.com during the 3rd quarter worth about $43,000. Toronto Dominion Bank acquired a new position in monday.com in the 2nd quarter worth about $120,000. Vestcor Inc lifted its position in shares of monday.com by 31.4% during the 3rd quarter. Vestcor Inc now owns 519 shares of the company’s stock valued at $144,000 after buying an additional 124 shares in the last quarter. Larson Financial Group LLC lifted its holdings in monday.com by 645.7% during the third quarter. Larson Financial Group LLC now owns 604 shares of the company’s stock valued at $168,000 after purchasing an additional 523 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its stake in monday.com by 18.2% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company’s stock valued at $181,000 after buying an additional 100 shares in the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

monday.com Company Profile

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.