monday.com (NASDAQ:MNDY) Upgraded to “Buy” at DA Davidson

DA Davidson upgraded shares of monday.com (NASDAQ:MNDY) from a neutral rating to a buy rating in a research note published on Tuesday morning, Marketbeat Ratings reports. They currently have $170.00 price objective on the stock.

Other equities analysts have also issued reports about the company. Needham & Company LLC reissued a buy rating and set a $230.00 price target on shares of monday.com in a research report on Tuesday, August 15th. Jefferies Financial Group boosted their price target on monday.com from $150.00 to $180.00 and gave the stock a hold rating in a research report on Tuesday, August 15th. JPMorgan Chase & Co. lifted their price objective on monday.com from $160.00 to $180.00 and gave the stock an overweight rating in a report on Wednesday, August 9th. UBS Group initiated coverage on monday.com in a report on Thursday, October 12th. They set a neutral rating and a $175.00 price objective on the stock. Finally, KeyCorp lifted their price objective on monday.com from $200.00 to $211.00 and gave the stock an overweight rating in a report on Tuesday, August 15th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of Moderate Buy and an average price target of $195.00.

monday.com Price Performance

NASDAQ MNDY opened at $142.00 on Tuesday. The firm has a market capitalization of $6.27 billion, a P/E ratio of -142.00 and a beta of 0.87. monday.com has a 1-year low of $73.58 and a 1-year high of $189.15. The business’s 50-day simple moving average is $152.03 and its 200-day simple moving average is $158.22.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, August 14th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.17 by $0.24. The firm had revenue of $175.70 million for the quarter, compared to analyst estimates of $169.25 million. monday.com had a negative return on equity of 6.92% and a negative net margin of 7.40%. monday.com’s revenue for the quarter was up 42.0% on a year-over-year basis. During the same period in the previous year, the company posted ($1.01) EPS. On average, equities research analysts expect that monday.com will post -1.23 EPS for the current fiscal year.

Institutional Investors Weigh In On monday.com

A number of institutional investors have recently made changes to their positions in the company. Crewe Advisors LLC increased its holdings in shares of monday.com by 90.4% in the 2nd quarter. Crewe Advisors LLC now owns 158 shares of the company’s stock valued at $27,000 after acquiring an additional 75 shares during the last quarter. Guggenheim Capital LLC boosted its position in monday.com by 0.7% during the 1st quarter. Guggenheim Capital LLC now owns 11,495 shares of the company’s stock valued at $1,641,000 after purchasing an additional 79 shares during the period. Advisors Asset Management Inc. boosted its position in monday.com by 26.8% during the 4th quarter. Advisors Asset Management Inc. now owns 383 shares of the company’s stock valued at $47,000 after purchasing an additional 81 shares during the period. Harbor Capital Advisors Inc. boosted its position in monday.com by 12.2% during the 2nd quarter. Harbor Capital Advisors Inc. now owns 983 shares of the company’s stock valued at $168,000 after purchasing an additional 107 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in monday.com by 9.1% during the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,318 shares of the company’s stock valued at $188,000 after purchasing an additional 110 shares during the period. 81.30% of the stock is currently owned by 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, and internationally. It 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.