monday.com (NASDAQ:MNDY) Rating Increased to Buy at Wall Street Zen

monday.com (NASDAQ:MNDY) was upgraded by analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a report released on Sunday.

Several other research analysts have also recently commented on MNDY. BTIG Research decreased their target price on shares of monday.com from $135.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Canaccord Genuity Group decreased their price objective on shares of monday.com from $140.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Piper Sandler boosted their target price on shares of monday.com from $85.00 to $90.00 and gave the company a “neutral” rating in a research note on Monday, May 11th. Guggenheim set a $130.00 target price on monday.com and gave the stock a “buy” rating in a research report on Thursday, April 9th. Finally, Oppenheimer set a $115.00 price target on monday.com in a report on Monday, May 11th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.48.

monday.com Trading Down 1.4%

Shares of monday.com stock traded down $1.18 on Friday, reaching $82.47. 641,201 shares of the company were exchanged, compared to its average volume of 1,005,416. monday.com has a fifty-two week low of $57.50 and a fifty-two week high of $301.00. The firm has a market capitalization of $4.22 billion, a price-to-earnings ratio of 35.86, a price-to-earnings-growth ratio of 4.13 and a beta of 1.26. The stock has a fifty day moving average price of $77.49 and a 200-day moving average price of $88.34.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Friday, March 13th. The company reported $1.15 earnings per share for the quarter. The firm had revenue of $351.26 million for the quarter. monday.com had a return on equity of 5.10% and a net margin of 9.17%. On average, equities analysts anticipate that monday.com will post 1.59 earnings per share for the current fiscal year.

Institutional Investors Weigh In On monday.com

A number of institutional investors have recently modified their holdings of the stock. Capital World Investors raised its holdings in shares of monday.com by 91.4% during the fourth quarter. Capital World Investors now owns 3,286,461 shares of the company’s stock worth $484,950,000 after acquiring an additional 1,569,198 shares in the last quarter. Renaissance Technologies LLC grew its stake in monday.com by 93.3% in the first quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock valued at $150,797,000 after purchasing an additional 1,052,900 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in monday.com by 15.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,274,910 shares of the company’s stock worth $188,126,000 after purchasing an additional 165,996 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of monday.com by 110.9% during the 4th quarter. SG Americas Securities LLC now owns 932,912 shares of the company’s stock worth $137,660,000 after purchasing an additional 490,491 shares in the last quarter. Finally, Baillie Gifford & Co. raised its stake in shares of monday.com by 2.2% during the 4th quarter. Baillie Gifford & Co. now owns 723,655 shares of the company’s stock worth $106,783,000 after purchasing an additional 15,377 shares in the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

About monday.com

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.