monday.com (NASDAQ:MNDY) Earns Outperform Rating from William Blair

monday.com (NASDAQ:MNDY)‘s stock had its “outperform” rating reaffirmed by research analysts at William Blair in a report released on Wednesday,RTT News reports.

A number of other equities analysts also recently issued reports on the company. Capital One Financial started coverage on monday.com in a research note on Thursday, October 10th. They issued an “overweight” rating and a $325.00 price target on the stock. Robert W. Baird boosted their price target on monday.com from $265.00 to $270.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Needham & Company LLC upped their price target on shares of monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. DA Davidson reissued a “neutral” rating and issued a $300.00 price objective on shares of monday.com in a report on Tuesday, November 12th. Finally, Oppenheimer upped their target price on shares of monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Six research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, monday.com presently has an average rating of “Moderate Buy” and a consensus target price of $309.62.

monday.com Price Performance

Shares of NASDAQ:MNDY opened at $224.69 on Wednesday. monday.com has a 1 year low of $170.00 and a 1 year high of $324.99. The stock’s fifty day moving average price is $283.18 and its 200-day moving average price is $258.47. The company has a market cap of $10.85 billion, a P/E ratio of 548.02, a PEG ratio of 7.75 and a beta of 1.25.

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

Institutional Investors Weigh In On monday.com

Institutional investors and hedge funds have recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in monday.com by 14.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,606 shares of the company’s stock valued at $15,555,000 after acquiring an additional 8,106 shares during the last quarter. Raymond James & Associates grew its position in shares of monday.com by 9.8% during the second quarter. Raymond James & Associates now owns 31,845 shares of the company’s stock valued at $7,667,000 after purchasing an additional 2,850 shares in the last quarter. Gilliland Jeter Wealth Management LLC lifted its position in shares of monday.com by 72.9% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock worth $58,000 after buying an additional 102 shares in the last quarter. McAdam LLC purchased a new stake in shares of monday.com in the second quarter worth about $611,000. Finally, Bank of New York Mellon Corp boosted its stake in monday.com by 171.3% during the second quarter. Bank of New York Mellon Corp now owns 273,877 shares of the company’s stock valued at $65,938,000 after buying an additional 172,919 shares during 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.