Scotiabank Begins Coverage on monday.com (NASDAQ:MNDY)

Analysts at Scotiabank began coverage on shares of monday.com (NASDAQ:MNDY) in a report issued on Tuesday, MarketBeat.com reports. The brokerage set a “sector outperform” rating and a $325.00 price target on the stock. Scotiabank’s price objective indicates a potential upside of 24.93% from the company’s previous close.

Several other analysts also recently issued reports on MNDY. Wells Fargo & Company boosted their price target on monday.com from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Baird R W upgraded shares of monday.com to a “hold” rating in a research note on Tuesday, July 23rd. Citigroup lifted their price objective on shares of monday.com from $296.00 to $327.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. increased their target price on shares of monday.com from $270.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Finally, Needham & Company LLC lifted 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. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $310.81.

monday.com Trading Up 1.2 %

MNDY stock opened at $260.15 on Tuesday. The business’s 50 day simple moving average is $281.22 and its 200 day simple moving average is $250.02. monday.com has a 1-year low of $169.46 and a 1-year high of $324.99. The firm has a market capitalization of $12.56 billion, a PE ratio of 634.51, a PEG ratio of 12.26 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. The company had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. monday.com’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.15 EPS. As a group, sell-side analysts predict that monday.com will post 0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of monday.com during the third quarter valued at $43,000. Ridgewood Investments LLC bought a new position in monday.com during the 2nd quarter worth $45,000. Gilliland Jeter Wealth Management LLC lifted its holdings in monday.com by 72.9% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock worth $58,000 after buying an additional 102 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of monday.com in the 2nd quarter valued at about $69,000. Finally, Industrial Alliance Investment Management Inc. increased its stake in shares of monday.com by 741.7% in the first quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock valued at $91,000 after buying an additional 356 shares during the period. Institutional investors own 73.70% of the company’s stock.

monday.com Company Profile

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.