Needham & Company LLC Reaffirms Buy Rating for monday.com (NASDAQ:MNDY)

Needham & Company LLC restated their buy rating on shares of monday.com (NASDAQ:MNDY) in a research report report published on Thursday, Benzinga reports. They currently have a $300.00 price objective on the stock.

MNDY has been the subject of several other reports. Citigroup boosted their price objective on shares of monday.com from $296.00 to $327.00 and gave the company a neutral rating in a research report on Wednesday, September 25th. Barclays boosted their price target on monday.com from $275.00 to $300.00 and gave the stock an overweight rating in a report on Tuesday, August 13th. Baird R W raised monday.com to a hold rating in a research note on Tuesday, July 23rd. UBS Group boosted their target price on monday.com from $240.00 to $280.00 and gave the stock a neutral rating in a research note on Tuesday, August 13th. Finally, Tigress Financial raised their price target on shares of monday.com from $280.00 to $340.00 and gave the company a buy rating in a research note on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, monday.com has an average rating of Moderate Buy and a consensus price target of $294.84.

monday.com Price Performance

MNDY stock opened at $271.97 on Thursday. monday.com has a one year low of $122.13 and a one year high of $285.64. The stock has a market cap of $13.13 billion, a price-to-earnings ratio of 715.71, a price-to-earnings-growth ratio of 13.58 and a beta of 1.32. The company has a fifty day moving average price of $250.46 and a two-hundred day moving average price of $229.11.

monday.com (NASDAQ:MNDY) last announced its earnings results on Monday, August 12th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.23. The company had revenue of $236.11 million for the quarter, compared to analyst estimates of $227.96 million. monday.com had a return on equity of 4.74% and a net margin of 4.88%. Research analysts anticipate that monday.com will post 0.49 EPS for the current fiscal year.

Hedge Funds Weigh In On monday.com

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of monday.com in the 2nd quarter worth about $28,747,000. Sanctuary Advisors LLC bought a new position in shares of monday.com during the 2nd quarter worth approximately $285,000. Truist Financial Corp grew its position in shares of monday.com by 4.1% during the 2nd quarter. Truist Financial Corp now owns 4,993 shares of the company’s stock worth $1,202,000 after buying an additional 195 shares during the period. Mackenzie Financial Corp lifted its position in shares of monday.com by 23.0% during the 2nd quarter. Mackenzie Financial Corp now owns 1,981 shares of the company’s stock valued at $477,000 after acquiring an additional 371 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in monday.com by 19.6% during the second quarter. The Manufacturers Life Insurance Company now owns 12,355 shares of the company’s stock worth $2,975,000 after acquiring an additional 2,023 shares in the last quarter. Institutional investors and hedge funds 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.