monday.com (NASDAQ:MNDY) Stock Rating Reaffirmed by Needham & Company LLC

monday.com (NASDAQ:MNDY)‘s stock had its “buy” rating reaffirmed by analysts at Needham & Company LLC in a report issued on Tuesday, Benzinga reports. They presently have a $230.00 target price on the stock. Needham & Company LLC’s target price would indicate a potential upside of 19.29% from the stock’s current price.

MNDY has been the subject of several other reports. JPMorgan Chase & Co. boosted their price target on monday.com from $230.00 to $270.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Oppenheimer raised their price target on shares of monday.com from $220.00 to $240.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. Bank of America began coverage on shares of monday.com in a research note on Monday, February 26th. They set a “buy” rating and a $280.00 price objective for the company. Canaccord Genuity Group lowered their target price on shares of monday.com from $250.00 to $220.00 and set a “buy” rating for the company in a research note on Monday, April 22nd. Finally, KeyCorp assumed coverage on monday.com in a research report on Thursday, March 21st. They set an “overweight” rating and a $275.00 price target on the stock. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $240.00.

monday.com Price Performance

MNDY stock opened at $192.80 on Tuesday. monday.com has a 1-year low of $108.35 and a 1-year high of $239.22. The business has a 50-day moving average price of $211.55 and a 200 day moving average price of $190.57. The company has a market capitalization of $9.31 billion, a P/E ratio of -2,753.89 and a beta of 1.18.

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

Institutional Investors Weigh In On monday.com

Institutional investors and hedge funds have recently modified their holdings of the company. WCM Investment Management LLC purchased a new stake in monday.com in the first quarter valued at $728,521,000. Jennison Associates LLC purchased a new stake in shares of monday.com in the fourth quarter worth about $131,086,000. Invesco Ltd. boosted its stake in shares of monday.com by 331.6% in the third quarter. Invesco Ltd. now owns 629,572 shares of the company’s stock worth $100,240,000 after buying an additional 483,709 shares during the last quarter. Westfield Capital Management Co. LP acquired a new stake in monday.com during the fourth quarter worth about $58,689,000. Finally, Norges Bank acquired a new position in monday.com in the fourth quarter valued at approximately $57,754,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

About monday.com

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.