monday.com (NASDAQ:MNDY) Price Target Raised to $270.00

monday.com (NASDAQ:MNDY) had its price objective lifted by JPMorgan Chase & Co. from $230.00 to $270.00 in a research report report published on Monday morning, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other research analysts have also weighed in on the company. Jefferies Financial Group raised monday.com from a hold rating to a buy rating and increased their target price for the stock from $180.00 to $230.00 in a research report on Friday, January 5th. UBS Group raised their target price on monday.com from $185.00 to $200.00 and gave the company a neutral rating in a research note on Thursday, December 7th. Canaccord Genuity Group restated a buy rating and set a $195.00 target price on shares of monday.com in a research note on Thursday, December 7th. KeyCorp assumed coverage on monday.com in a research note on Thursday, March 21st. They set an overweight rating and a $275.00 target price for the company. Finally, Piper Sandler restated an overweight rating and set a $250.00 target price on shares of monday.com in a research note on Tuesday, February 13th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $232.43.

monday.com Trading Down 0.4 %

Shares of MNDY opened at $225.87 on Monday. The firm has a market capitalization of $10.91 billion, a P/E ratio of -3,226.25 and a beta of 1.18. The stock’s fifty day simple moving average is $218.87 and its 200 day simple moving average is $183.82. monday.com has a twelve month low of $108.35 and a twelve month high of $239.22.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, February 12th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.33. The business had revenue of $202.60 million for the quarter, compared to analyst estimates of $197.97 million. monday.com had a negative return on equity of 0.43% and a negative net margin of 0.26%. The business’s quarterly revenue was up 35.5% on a year-over-year basis. During the same period last year, the company posted ($0.03) EPS. Sell-side analysts predict that monday.com will post -0.16 earnings per share for the current year.

Hedge Funds Weigh In On monday.com

A number of hedge funds have recently bought and sold shares of MNDY. Price T Rowe Associates Inc. MD boosted its stake in monday.com by 98.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,684,101 shares of the company’s stock valued at $383,156,000 after acquiring an additional 1,332,770 shares during the period. Acadian Asset Management LLC grew its holdings in shares of monday.com by 35.8% during the 3rd quarter. Acadian Asset Management LLC now owns 1,137,850 shares of the company’s stock valued at $181,124,000 after acquiring an additional 300,011 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in shares of monday.com by 5.6% during the 2nd quarter. 1832 Asset Management L.P. now owns 943,500 shares of the company’s stock valued at $161,546,000 after acquiring an additional 50,000 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of monday.com by 50.6% in the 2nd quarter. Renaissance Technologies LLC now owns 827,700 shares of the company’s stock valued at $141,719,000 after purchasing an additional 278,000 shares during the last quarter. Finally, Whale Rock Capital Management LLC acquired a new stake in shares of monday.com in the 2nd quarter valued at $140,686,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

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.