Scotiabank Begins Coverage on monday.com (NASDAQ:MNDY)

Scotiabank initiated coverage on shares of monday.com (NASDAQ:MNDY) in a research report report published on Tuesday, Marketbeat reports. The firm issued a sector outperform rating and a $325.00 target price on the stock.

Several other research firms have also commented on MNDY. Wells Fargo & Company increased their price objective on shares of monday.com from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. UBS Group increased their target price on shares of monday.com from $240.00 to $280.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Loop Capital increased their target price on shares of monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Baird R W raised shares of monday.com to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Citigroup increased their target price on shares of monday.com from $296.00 to $327.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, monday.com has an average rating of “Moderate Buy” and an average target price of $310.81.

monday.com Stock Performance

Shares of NASDAQ:MNDY opened at $276.26 on Tuesday. The firm has a fifty day moving average price of $281.56 and a 200 day moving average price of $250.20. monday.com has a fifty-two week low of $170.00 and a fifty-two week high of $324.99. The firm has a market cap of $13.34 billion, a price-to-earnings ratio of 673.80, a P/E/G ratio of 7.16 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The firm had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. During the same quarter in the prior year, the business earned $0.15 earnings per share. monday.com’s revenue for the quarter was up 49.5% on a year-over-year basis. As a group, research analysts predict that monday.com will post 0.85 earnings per share for the current year.

Institutional Trading of monday.com

A number of institutional investors have recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in shares of monday.com by 4.1% in the 3rd quarter. Geode Capital Management LLC now owns 330,777 shares of the company’s stock valued at $91,447,000 after buying an additional 12,968 shares in the last quarter. Vestcor Inc boosted its holdings in shares of monday.com by 31.4% in the 3rd quarter. Vestcor Inc now owns 519 shares of the company’s stock valued at $144,000 after buying an additional 124 shares in the last quarter. Barclays PLC boosted its holdings in shares of monday.com by 225.8% in the 3rd quarter. Barclays PLC now owns 17,427 shares of the company’s stock valued at $4,840,000 after buying an additional 12,078 shares in the last quarter. Public Employees Retirement System of Ohio bought a new stake in shares of monday.com in the 3rd quarter valued at about $6,416,000. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of monday.com by 15.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 10,510 shares of the company’s stock valued at $2,919,000 after buying an additional 1,410 shares in 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.