monday.com (NASDAQ:MNDY) Upgraded to Strong-Buy at Zacks Research

monday.com (NASDAQ:MNDY) was upgraded by Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued on Tuesday,Zacks.com reports.

Several other equities analysts also recently weighed in on the company. UBS Group decreased their target price on monday.com from $200.00 to $140.00 and set a “neutral” rating on the stock in a research report on Monday. Guggenheim reissued a “buy” rating on shares of monday.com in a research note on Friday, January 16th. Robert W. Baird set a $175.00 price objective on monday.com in a report on Tuesday. JPMorgan Chase & Co. dropped their target price on shares of monday.com from $285.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of monday.com in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, monday.com has a consensus rating of “Moderate Buy” and a consensus target price of $235.96.

monday.com Stock Performance

NASDAQ:MNDY opened at $104.80 on Tuesday. The stock has a market capitalization of $5.32 billion, a PE ratio of 85.20, a P/E/G ratio of 2.22 and a beta of 1.25. monday.com has a fifty-two week low of $95.08 and a fifty-two week high of $342.64. The company has a fifty day moving average of $140.65 and a two-hundred day moving average of $177.66.

monday.com (NASDAQ:MNDY) last announced its earnings results on Monday, November 10th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.27. monday.com had a net margin of 5.58% and a return on equity of 5.99%. The business had revenue of $316.86 million for the quarter, compared to analyst estimates of $312.26 million. During the same quarter last year, the business earned $0.85 earnings per share. The company’s revenue for the quarter was up 26.3% compared to the same quarter last year. Research analysts forecast that monday.com will post 0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC raised its stake in monday.com by 2,120.0% during the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares during the period. Promus Capital LLC acquired a new stake in shares of monday.com during the 2nd quarter worth approximately $45,000. Advisory Services Network LLC purchased a new stake in shares of monday.com during the 3rd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC raised its position in shares of monday.com by 76.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $47,000 after buying an additional 65 shares during the period. Finally, Hazlett Burt & Watson Inc. lifted its holdings in monday.com by 60.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 160 shares of the company’s stock valued at $50,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds 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.