Brokerages Set monday.com Ltd. (NASDAQ:MNDY) Price Target at $235.96

Shares of monday.com Ltd. (NASDAQ:MNDY) have earned an average recommendation of “Moderate Buy” from the twenty-six brokerages that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, twenty have given a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $162.8750.

Several equities analysts have recently issued reports on the company. BTIG Research decreased their price objective on monday.com from $210.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday. Citigroup decreased their price target on monday.com from $230.00 to $176.00 and set a “buy” rating for the company in a report on Tuesday. Wolfe Research reaffirmed an “outperform” rating and set a $95.00 price objective on shares of monday.com in a research note on Monday. Piper Sandler cut their target price on shares of monday.com from $170.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday. Finally, Barclays set a $115.00 target price on shares of monday.com in a research note on Tuesday.

monday.com Price Performance

MNDY traded down $0.53 during trading on Thursday, reaching $72.56. 2,066,582 shares of the company’s stock were exchanged, compared to its average volume of 2,663,053. monday.com has a 1 year low of $68.68 and a 1 year high of $328.45. The company’s fifty day simple moving average is $134.20 and its 200-day simple moving average is $170.48. The stock has a market capitalization of $3.68 billion, a P/E ratio of 32.26, a price-to-earnings-growth ratio of 1.68 and a beta of 1.25.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, February 9th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. The firm had revenue of $333.88 million for the quarter, compared to analyst estimates of $329.71 million. monday.com had a net margin of 9.64% and a return on equity of 4.80%. The business’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.08 earnings per share. Equities analysts forecast that monday.com will post 0.46 EPS for the current year.

Hedge Funds Weigh In On monday.com

Several institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC grew its holdings in monday.com by 2,120.0% in the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after purchasing an additional 106 shares during the period. Janney Montgomery Scott LLC acquired a new stake in monday.com in the 2nd quarter valued at $260,000. Truist Financial Corp increased its holdings in monday.com by 36.8% in the 2nd quarter. Truist Financial Corp now owns 4,759 shares of the company’s stock worth $1,497,000 after acquiring an additional 1,280 shares in the last quarter. KLP Kapitalforvaltning AS raised its position in monday.com by 22.0% during the second quarter. KLP Kapitalforvaltning AS now owns 13,850 shares of the company’s stock worth $4,356,000 after acquiring an additional 2,500 shares during the period. Finally, Tectonic Advisors LLC purchased a new position in monday.com during the second quarter valued at $215,000. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Company Profile

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.