Needham & Company LLC Reaffirms “Buy” Rating for monday.com (NASDAQ:MNDY)

monday.com (NASDAQ:MNDY)‘s stock had its “buy” rating reiterated by equities research analysts at Needham & Company LLC in a report released on Tuesday,Benzinga reports. They currently have a $400.00 price objective on the stock. Needham & Company LLC’s target price would indicate a potential upside of 36.60% from the company’s current price.

A number of other equities research analysts have also recently commented on MNDY. Robert W. Baird increased their price objective on shares of monday.com from $275.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Piper Sandler lowered their price objective on shares of monday.com from $385.00 to $305.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Barclays increased their price objective on shares of monday.com from $325.00 to $360.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. UBS Group lowered their price objective on shares of monday.com from $350.00 to $310.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Finally, Scotiabank upped their target price on shares of monday.com from $315.00 to $330.00 and gave the company a “sector outperform” rating in a report on Friday, May 2nd. Three equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $346.50.

monday.com Stock Up 0.8%

NASDAQ:MNDY opened at $292.83 on Tuesday. monday.com has a fifty-two week low of $188.01 and a fifty-two week high of $342.64. The stock has a market cap of $14.87 billion, a PE ratio of 488.05, a price-to-earnings-growth ratio of 16.53 and a beta of 1.32. The firm’s fifty day simple moving average is $257.21 and its 200-day simple moving average is $265.49.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.40. The business had revenue of $282.25 million for the quarter, compared to analysts’ expectations of $275.93 million. monday.com had a net margin of 3.33% and a return on equity of 6.22%. The business’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 EPS. Equities analysts anticipate that monday.com will post 0.46 earnings per share for the current year.

Institutional Trading of monday.com

Several large investors have recently bought and sold shares of MNDY. Barclays PLC grew its position in monday.com by 225.8% in the third quarter. Barclays PLC now owns 17,427 shares of the company’s stock valued at $4,840,000 after acquiring an additional 12,078 shares in the last quarter. Principal Financial Group Inc. grew its position in monday.com by 35.8% in the third quarter. Principal Financial Group Inc. now owns 53,306 shares of the company’s stock valued at $14,807,000 after acquiring an additional 14,059 shares in the last quarter. Park Avenue Securities LLC acquired a new stake in monday.com in the fourth quarter valued at approximately $241,000. Channel Wealth LLC acquired a new stake in monday.com in the fourth quarter valued at approximately $986,000. Finally, Oak Ridge Investments LLC acquired a new stake in monday.com in the fourth quarter valued at approximately $633,000. Institutional investors and hedge funds 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.