Piper Sandler Forecasts Strong Price Appreciation for monday.com (NASDAQ:MNDY) Stock

monday.com (NASDAQ:MNDY) had its target price lifted by Piper Sandler from $340.00 to $350.00 in a report issued on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

MNDY has been the subject of a number of other reports. TD Cowen raised their target price on monday.com from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Tigress Financial boosted their target price on shares of monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Needham & Company LLC reissued a “buy” rating and set a $300.00 price target on shares of monday.com in a research note on Thursday, September 26th. Capital One Financial assumed coverage on shares of monday.com in a research report on Thursday, October 10th. They issued an “overweight” rating and a $325.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their price objective on monday.com from $270.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.10.

monday.com Stock Performance

Shares of NASDAQ:MNDY opened at $268.90 on Monday. The company has a market capitalization of $12.98 billion, a PE ratio of 655.85, a P/E/G ratio of 12.15 and a beta of 1.31. The company’s fifty day moving average is $280.09 and its 200-day moving average is $247.65. monday.com has a 52 week low of $162.06 and a 52 week high of $324.99.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.24. The company had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 5.15%. The company’s revenue was up 49.5% on a year-over-year basis. During the same quarter last year, the business posted $0.15 earnings per share. On average, analysts forecast that monday.com will post 0.5 EPS for the current year.

Institutional Investors Weigh In On monday.com

Several large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD increased its stake in monday.com by 1.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,164,566 shares of the company’s stock worth $714,781,000 after purchasing an additional 31,304 shares in the last quarter. FMR LLC raised its holdings in shares of monday.com by 112.0% during the third quarter. FMR LLC now owns 1,512,094 shares of the company’s stock worth $420,014,000 after acquiring an additional 798,791 shares during the period. Renaissance Technologies LLC lifted its position in monday.com by 20.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock valued at $270,299,000 after acquiring an additional 188,800 shares in the last quarter. Jennison Associates LLC boosted its stake in monday.com by 77.5% in the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock worth $202,905,000 after purchasing an additional 318,837 shares during the period. Finally, 1832 Asset Management L.P. increased its holdings in monday.com by 34.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock worth $160,707,000 after purchasing an additional 170,800 shares in the last quarter. 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.