Needham & Company LLC Forecasts Strong Price Appreciation for monday.com (NASDAQ:MNDY) Stock

monday.com (NASDAQ:MNDY) had its price target raised by research analysts at Needham & Company LLC from $300.00 to $350.00 in a report released on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Needham & Company LLC’s target price points to a potential upside of 27.18% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Wells Fargo & Company boosted their target price on monday.com from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Citigroup boosted their target price on monday.com from $296.00 to $327.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Oppenheimer upped their price objective on monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Loop Capital upped their price objective on monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, The Goldman Sachs Group upped their price objective on monday.com from $300.00 to $340.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $309.35.

monday.com Stock Down 15.1 %

Shares of NASDAQ MNDY opened at $275.21 on Tuesday. The firm has a market cap of $13.29 billion, a price-to-earnings ratio of 344.01, a PEG ratio of 15.22 and a beta of 1.31. monday.com has a 52-week low of $150.10 and a 52-week high of $324.99. The business’s 50 day moving average is $279.07 and its two-hundred day moving average is $246.86.

monday.com (NASDAQ:MNDY) last announced its earnings results on Monday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, beating 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%. Analysts anticipate that monday.com will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On monday.com

Hedge funds have recently made changes to their positions in the business. Sei Investments Co. raised its holdings in monday.com by 63.9% during the first quarter. Sei Investments Co. now owns 107,331 shares of the company’s stock worth $24,243,000 after purchasing an additional 41,840 shares in the last quarter. Bessemer Group Inc. purchased a new position in monday.com during the first quarter worth about $1,314,000. International Assets Investment Management LLC purchased a new position in monday.com during the third quarter worth about $21,989,000. Swiss National Bank raised its holdings in monday.com by 4.1% during the first quarter. Swiss National Bank now owns 86,400 shares of the company’s stock worth $19,515,000 after purchasing an additional 3,400 shares in the last quarter. Finally, Taylor Frigon Capital Management LLC purchased a new position in monday.com during the third quarter worth about $1,311,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Company Profile

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.