monday.com (NASDAQ:MNDY) Given New $340.00 Price Target at Wells Fargo & Company

monday.com (NASDAQ:MNDY) had its target price lifted by stock analysts at Wells Fargo & Company from $330.00 to $340.00 in a research report issued on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 33.99% from the company’s previous close.

Several other equities analysts have also recently weighed in on the stock. Scotiabank decreased their target price on shares of monday.com from $325.00 to $300.00 and set a “sector outperform” rating for the company in a research note on Thursday, January 16th. DA Davidson reaffirmed a “neutral” rating and issued a $300.00 target price on shares of monday.com in a report on Tuesday, November 12th. Robert W. Baird lifted their price target on monday.com from $270.00 to $275.00 and gave the stock a “neutral” rating in a report on Tuesday. Capital One Financial began coverage on monday.com in a research note on Thursday, October 10th. They issued an “overweight” rating and a $325.00 price objective on the stock. Finally, Oppenheimer lifted their target price on monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, monday.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.68.

monday.com Price Performance

Shares of NASDAQ:MNDY opened at $253.75 on Tuesday. The stock has a market capitalization of $12.25 billion, a PE ratio of 618.90, a price-to-earnings-growth ratio of 6.00 and a beta of 1.30. The company’s 50-day moving average price is $254.79 and its two-hundred day moving average price is $259.58. monday.com has a one year low of $174.75 and a one year high of $324.99.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.24. The business had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. monday.com had a return on equity of 4.99% and a net margin of 2.39%. monday.com’s revenue was up 49.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.15 earnings per share. On average, analysts anticipate that monday.com will post 0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

A number of hedge funds have recently made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of monday.com in the 3rd quarter worth about $43,000. Toronto Dominion Bank acquired a new stake in monday.com in the second quarter worth $120,000. Vestcor Inc grew its holdings in monday.com by 31.4% in the third quarter. Vestcor Inc now owns 519 shares of the company’s stock worth $144,000 after purchasing an additional 124 shares during the period. Larson Financial Group LLC increased its stake in monday.com by 645.7% in the third quarter. Larson Financial Group LLC now owns 604 shares of the company’s stock valued at $168,000 after purchasing an additional 523 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. raised its holdings in shares of monday.com by 18.2% during the third quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company’s stock valued at $181,000 after purchasing an additional 100 shares during the period. 73.70% 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, 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.