monday.com (NASDAQ:MNDY) Upgraded by DA Davidson to Buy Rating

DA Davidson upgraded shares of monday.com (NASDAQ:MNDY) from a neutral rating to a buy rating in a report published on Monday, Marketbeat reports. They currently have $350.00 price target on the stock.

Other equities analysts have also recently issued research reports about the company. Citigroup raised monday.com from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $302.00 to $298.00 in a report on Thursday, January 16th. Needham & Company LLC upped their target price on monday.com from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Loop Capital lowered their target price on monday.com from $310.00 to $300.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Piper Sandler upped their target price on monday.com from $345.00 to $385.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Finally, Barclays upped their target price on monday.com from $325.00 to $360.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $354.45.

monday.com Stock Performance

monday.com stock opened at $262.68 on Monday. monday.com has a 52 week low of $174.75 and a 52 week high of $342.64. The stock has a market capitalization of $12.68 billion, a P/E ratio of 437.80, a price-to-earnings-growth ratio of 16.53 and a beta of 1.27. The stock has a fifty day moving average of $267.89 and a 200-day moving average of $269.54.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a return on equity of 6.22% and a net margin of 3.33%. On average, research analysts forecast that monday.com will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

Several institutional investors and hedge funds have recently made changes to their positions in MNDY. FMR LLC boosted its position in shares of monday.com by 78.7% during the 4th quarter. FMR LLC now owns 2,701,952 shares of the company’s stock valued at $636,147,000 after purchasing an additional 1,189,858 shares in the last quarter. Norges Bank bought a new position in monday.com in the fourth quarter worth approximately $116,686,000. T. Rowe Price Investment Management Inc. bought a new position in monday.com in the fourth quarter worth approximately $109,605,000. SG Americas Securities LLC boosted its holdings in monday.com by 1,024.7% in the fourth quarter. SG Americas Securities LLC now owns 476,392 shares of the company’s stock worth $112,162,000 after acquiring an additional 434,035 shares in the last quarter. Finally, CIBC Private Wealth Group LLC boosted its holdings in monday.com by 264.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company’s stock worth $126,407,000 after acquiring an additional 403,255 shares in the last quarter. Institutional investors own 73.70% of the company’s stock.

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.