Analysts Set monday.com Ltd. (NASDAQ:MNDY) Target Price at $117.91

Shares of monday.com Ltd. (NASDAQ:MNDY) have been given a consensus rating of “Moderate Buy” by the twenty-five analysts that are currently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, nine have issued a hold recommendation, fourteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $117.9130.

Several analysts have recently issued reports on the company. TD Cowen reaffirmed a “buy” rating and set a $110.00 price objective on shares of monday.com in a report on Tuesday, August 11th. Zacks Research raised shares of monday.com from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Wells Fargo & Company decreased their price target on shares of monday.com from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Wall Street Zen upgraded shares of monday.com from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, BTIG Research reiterated a “buy” rating and set a $105.00 price objective on shares of monday.com in a research report on Monday, August 10th.

monday.com Stock Performance

Shares of MNDY stock opened at $85.13 on Friday. monday.com has a 12-month low of $57.50 and a 12-month high of $220.80. The stock’s 50-day moving average price is $88.12 and its 200-day moving average price is $79.02. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 36.23, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, August 10th. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.37. The company had revenue of $364.62 million during the quarter, compared to analyst estimates of $355.55 million. monday.com had a return on equity of 9.09% and a net margin of 8.87%.The firm’s revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the company earned $1.09 earnings per share. As a group, research analysts predict that monday.com will post 2.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MNDY. Capital World Investors increased its stake in 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 during the last quarter. Renaissance Technologies LLC lifted its stake in shares of monday.com by 93.3% in the 1st 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 during the last quarter. Norges Bank purchased a new position in shares of monday.com in the 4th quarter worth approximately $79,789,000. Geode Capital Management LLC boosted its holdings in shares of monday.com by 10.8% in the 4th quarter. Geode Capital Management LLC now owns 438,076 shares of the company’s stock worth $64,295,000 after purchasing an additional 42,655 shares during the period. Finally, Ibex Investors LLC increased its position in shares of monday.com by 56.7% during the 4th quarter. Ibex Investors LLC now owns 282,000 shares of the company’s stock valued at $41,612,000 after purchasing an additional 102,000 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

About monday.com

monday.com Ltd. is a software company that provides cloud-based work management and productivity solutions for organizations of various sizes. Its platform is designed to help teams plan projects, manage workflows, coordinate tasks, track progress and collaborate across departments.

The company’s product portfolio includes monday work management, monday CRM, monday dev and monday service. These products support functions such as project and portfolio management, customer relationship management, software development, IT service management and business process automation.