monday.com (NASDAQ:MNDY) Upgraded at Citigroup

monday.com (NASDAQ:MNDY) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued to investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $298.00 target price on the stock, down from their prior target price of $302.00. Citigroup’s target price would suggest a potential upside of 23.12% from the company’s previous close.

Several other research firms also recently weighed in on MNDY. DA Davidson reaffirmed a “neutral” rating and issued a $300.00 price objective on shares of monday.com in a research note on Tuesday, November 12th. Robert W. Baird raised their price objective on monday.com from $265.00 to $270.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Loop Capital dropped their price objective on monday.com from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Barclays raised their price objective on monday.com from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Finally, Capital One Financial assumed coverage on monday.com in a research note on Thursday, October 10th. They issued an “overweight” rating and a $325.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.48.

monday.com Price Performance

MNDY opened at $242.05 on Thursday. The business has a 50 day simple moving average of $257.66 and a 200-day simple moving average of $259.36. The stock has a market capitalization of $11.69 billion, a P/E ratio of 590.37, a P/E/G ratio of 5.41 and a beta of 1.30. monday.com has a 12 month low of $174.75 and a 12 month high of $324.99.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.61 by $0.24. The business had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $246.17 million. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The company’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same period last year, the firm earned $0.15 EPS. Research analysts anticipate that monday.com will post 0.85 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNDY. Rhumbline Advisers boosted its holdings in monday.com by 25.2% in the second quarter. Rhumbline Advisers now owns 8,446 shares of the company’s stock valued at $2,033,000 after acquiring an additional 1,701 shares during the last quarter. Victory Capital Management Inc. lifted its stake in shares of monday.com by 7.0% during the second quarter. Victory Capital Management Inc. now owns 5,677 shares of the company’s stock worth $1,367,000 after purchasing an additional 370 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of monday.com by 4.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,065 shares of the company’s stock worth $497,000 after purchasing an additional 91 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of monday.com by 19.3% during the second quarter. Envestnet Asset Management Inc. now owns 185,567 shares of the company’s stock worth $44,677,000 after purchasing an additional 29,982 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its stake in shares of monday.com by 4.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 1,124 shares of the company’s stock worth $271,000 after purchasing an additional 47 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.