Robert W. Baird Begins Coverage on monday.com (NASDAQ:MNDY)

Analysts at Robert W. Baird initiated coverage on shares of monday.com (NASDAQ:MNDY) in a research note issued to investors on Tuesday, Marketbeat reports. The firm set a “neutral” rating and a $250.00 price target on the stock. Robert W. Baird’s target price suggests a potential upside of 8.77% from the company’s previous close.

Several other research firms have also commented on MNDY. KeyCorp decreased their target price on shares of monday.com from $280.00 to $270.00 and set an “overweight” rating on the stock in a report on Tuesday, July 2nd. Citigroup lowered shares of monday.com from a “buy” rating to a “neutral” rating and decreased their target price for the company from $277.00 to $250.00 in a report on Wednesday, April 10th. Oppenheimer lifted their price target on shares of monday.com from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, May 16th. JPMorgan Chase & Co. lifted their price target on shares of monday.com from $230.00 to $270.00 and gave the company an “overweight” rating in a report on Monday, March 25th. Finally, DA Davidson lifted their price target on shares of monday.com from $190.00 to $230.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $255.53.

monday.com Stock Performance

MNDY stock opened at $229.84 on Tuesday. The company’s 50-day simple moving average is $231.82 and its 200 day simple moving average is $216.10. monday.com has a 52 week low of $122.13 and a 52 week high of $251.48. The company has a market capitalization of $11.10 billion, a PE ratio of 604.86, a price-to-earnings-growth ratio of 47.12 and a beta of 1.30.

monday.com (NASDAQ:MNDY) last released its earnings results on Wednesday, May 15th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of ($0.11) by $0.25. monday.com had a net margin of 2.53% and a return on equity of 2.42%. The firm had revenue of $216.91 million for the quarter, compared to analyst estimates of $210.33 million. On average, analysts forecast that monday.com will post 0.12 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Desjardins Global Asset Management Inc. increased its position in shares of monday.com by 222.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the company’s stock worth $25,000 after purchasing an additional 91 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of monday.com by 13.0% in the fourth 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. American International Group Inc. increased its position in shares of monday.com by 2.3% in the first quarter. American International Group Inc. now owns 4,550 shares of the company’s stock worth $1,028,000 after purchasing an additional 102 shares during the last quarter. Gilliland Jeter Wealth Management LLC increased its position in shares of monday.com by 72.9% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock worth $58,000 after purchasing an additional 102 shares during the last quarter. Finally, Yousif Capital Management LLC grew its position in monday.com by 11.9% during the fourth quarter. Yousif Capital Management LLC now owns 1,500 shares of the company’s stock valued at $282,000 after acquiring an additional 160 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors.

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.