monday.com (NASDAQ:MNDY) Coverage Initiated by Analysts at Morgan Stanley

Morgan Stanley assumed coverage on shares of monday.com (NASDAQ:MNDY) in a research note released on Tuesday, Marketbeat Ratings reports. The brokerage issued an equal weight rating and a $330.00 price objective on the stock.

Several other equities research analysts have also recently weighed in on MNDY. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price objective on shares of monday.com in a research report on Tuesday, May 13th. Loop Capital cut their price target on shares of monday.com from $385.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, May 13th. JPMorgan Chase & Co. reduced their price target on shares of monday.com from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Scotiabank boosted their price objective on shares of monday.com from $315.00 to $330.00 and gave the company a “sector outperform” rating in a research report on Friday, May 2nd. Finally, Piper Sandler raised their target price on monday.com from $305.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, May 12th. Four analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $347.09.

monday.com Price Performance

MNDY stock opened at $289.40 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 capitalization of $14.69 billion, a price-to-earnings ratio of 295.31, a PEG ratio of 102.58 and a beta of 1.30. The business’s fifty day moving average price is $279.84 and its two-hundred day moving average price is $267.06.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, May 12th. The company reported $1.10 EPS 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 analyst estimates of $275.93 million. monday.com had a net margin of 5.08% and a return on equity of 7.87%. monday.com’s revenue for the quarter was up 30.2% compared to the same quarter last year. During the same period last year, the firm earned $0.61 earnings per share. Research analysts expect that monday.com will post 0.46 EPS for the current year.

Institutional Trading of monday.com

Institutional investors have recently modified their holdings of the business. Rhumbline Advisers lifted its holdings in monday.com by 6.4% during the 1st quarter. Rhumbline Advisers now owns 11,232 shares of the company’s stock worth $2,731,000 after buying an additional 671 shares during the period. Strs Ohio bought a new position in shares of monday.com during the first quarter worth about $7,397,000. Diker Management LLC acquired a new position in shares of monday.com in the first quarter worth approximately $973,000. McAdam LLC boosted its holdings in monday.com by 15.0% in the first quarter. McAdam LLC now owns 2,623 shares of the company’s stock valued at $638,000 after acquiring an additional 342 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in monday.com by 0.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 117,921 shares of the company’s stock valued at $28,674,000 after purchasing an additional 485 shares during the period. 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.