monday.com (NASDAQ:MNDY) Earns “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of monday.com (NASDAQ:MNDY) in a report published on Tuesday, Benzinga reports. The brokerage currently has a $230.00 price target on the stock.

A number of other brokerages have also recently weighed in on MNDY. Wells Fargo & Company began coverage on monday.com in a research note on Tuesday, April 9th. They issued an overweight rating and a $260.00 price target on the stock. Tigress Financial boosted their price target on shares of monday.com from $240.00 to $280.00 and gave the company a buy rating in a report on Tuesday, March 5th. Oppenheimer lifted their price objective on shares of monday.com from $220.00 to $240.00 and gave the stock an outperform rating in a research report on Tuesday, February 13th. DA Davidson restated a neutral rating and issued a $190.00 target price on shares of monday.com in a report on Tuesday, February 13th. Finally, Jefferies Financial Group upgraded monday.com from a hold rating to a buy rating and lifted their price target for the company from $180.00 to $230.00 in a report on Friday, January 5th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, monday.com has an average rating of Moderate Buy and an average price target of $240.00.

monday.com Price Performance

NASDAQ MNDY opened at $185.48 on Tuesday. monday.com has a 12 month low of $109.58 and a 12 month high of $239.22. The company has a market capitalization of $8.95 billion, a P/E ratio of -2,649.34 and a beta of 1.24. The company’s 50 day simple moving average is $210.21 and its 200 day simple moving average is $190.89.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of MNDY. Crewe Advisors LLC raised its holdings in monday.com by 44.9% during the third quarter. Crewe Advisors LLC now owns 229 shares of the company’s stock valued at $36,000 after buying an additional 71 shares in the last quarter. Desjardins Global Asset Management Inc. raised its stake in shares of monday.com by 222.0% in the 4th quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the company’s stock valued at $25,000 after acquiring an additional 91 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. lifted its holdings in monday.com by 13.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 806 shares of the company’s stock worth $151,000 after purchasing an additional 93 shares during the last quarter. Arlington Partners LLC boosted its position in monday.com by 104.1% during the third quarter. Arlington Partners LLC now owns 247 shares of the company’s stock worth $39,000 after purchasing an additional 126 shares during the period. Finally, DekaBank Deutsche Girozentrale grew its holdings in monday.com by 21.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 834 shares of the company’s stock valued at $131,000 after purchasing an additional 145 shares during the last quarter. Institutional investors 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.