Piper Sandler Reiterates “Overweight” Rating for monday.com (NASDAQ:MNDY)

monday.com (NASDAQ:MNDY)‘s stock had its “overweight” rating reiterated by equities research analysts at Piper Sandler in a report released on Wednesday,Benzinga reports. They currently have a $350.00 target price on the stock. Piper Sandler’s target price points to a potential upside of 39.00% from the stock’s previous close.

Several other research analysts have also weighed in on MNDY. Wells Fargo & Company boosted their price target on monday.com from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Tigress Financial boosted their target price on shares of monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Barclays increased their price target on shares of monday.com from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Loop Capital boosted their price objective on shares of monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Finally, Needham & Company LLC raised their target price on shares of monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $310.81.

monday.com Trading Down 7.9 %

Shares of MNDY opened at $251.80 on Wednesday. The stock has a market capitalization of $12.16 billion, a price-to-earnings ratio of 614.15, a PEG ratio of 7.75 and a beta of 1.25. monday.com has a 12 month low of $170.00 and a 12 month high of $324.99. The firm has a fifty day simple moving average of $285.29 and a 200 day simple moving average of $258.89.

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

Hedge Funds Weigh In On monday.com

Hedge funds have recently bought and sold shares of the business. China Universal Asset Management Co. Ltd. acquired a new position in monday.com in the 3rd quarter valued at $1,667,000. International Assets Investment Management LLC bought a new position in monday.com in the third quarter valued at approximately $21,989,000. Taylor Frigon Capital Management LLC acquired a new position in monday.com during the third quarter valued at approximately $1,311,000. Jennison Associates LLC boosted its holdings in shares of monday.com by 77.5% in the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after purchasing an additional 318,837 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of monday.com by 20.7% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 72,564 shares of the company’s stock valued at $17,471,000 after purchasing an additional 12,460 shares during the last quarter. 73.70% of the stock is 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.