monday.com (NASDAQ:MNDY) Upgraded at Zacks Research

Zacks Research upgraded shares of monday.com (NASDAQ:MNDY) from a hold rating to a strong-buy rating in a report published on Tuesday,Zacks.com reports.

Several other research analysts have also commented on MNDY. Piper Sandler dropped their price objective on shares of monday.com from $250.00 to $170.00 and set an “overweight” rating for the company in a research note on Monday. Barclays lowered their target price on shares of monday.com from $202.00 to $194.00 and set an “overweight” rating for the company in a report on Monday, January 12th. Wells Fargo & Company cut their price target on shares of monday.com from $260.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. KeyCorp reduced their price objective on shares of monday.com from $270.00 to $220.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. Finally, Guggenheim restated a “buy” rating on shares of monday.com in a research report on Friday, January 16th. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, monday.com has an average rating of “Moderate Buy” and an average target price of $234.22.

monday.com Price Performance

Shares of NASDAQ MNDY opened at $94.59 on Tuesday. monday.com has a 1-year low of $94.27 and a 1-year high of $342.64. The business’s 50 day moving average is $139.65 and its two-hundred day moving average is $177.08. The stock has a market capitalization of $4.80 billion, a P/E ratio of 76.90, a PEG ratio of 2.37 and a beta of 1.25.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, November 10th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.27. The business had revenue of $316.86 million during the quarter, compared to analyst estimates of $312.26 million. monday.com had a return on equity of 5.99% and a net margin of 5.58%.The company’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same period last year, the company earned $0.85 EPS. As a group, equities research analysts anticipate that monday.com will post 0.46 earnings per share for the current fiscal year.

Institutional Trading of monday.com

Several institutional investors and hedge funds have recently modified their holdings of the stock. NewEdge Advisors LLC grew its stake in monday.com by 2,120.0% in the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of monday.com during the 3rd quarter worth $28,000. Abound Wealth Management bought a new position in shares of monday.com during the 4th quarter worth $30,000. Promus Capital LLC purchased a new position in shares of monday.com during the second quarter valued at $45,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of monday.com by 575.8% in the third quarter. Smartleaf Asset Management LLC now owns 223 shares of the company’s stock valued at $45,000 after acquiring an additional 190 shares in the last quarter. Institutional investors own 73.70% of the company’s stock.

About monday.com

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.