Cantor Fitzgerald Upgrades monday.com (NASDAQ:MNDY) to Strong-Buy

monday.com (NASDAQ:MNDY) was upgraded by stock analysts at Cantor Fitzgerald to a “strong-buy” rating in a research report issued on Thursday, MarketBeat reports. The firm currently has a $292.00 price target on the stock. Cantor Fitzgerald’s price objective indicates a potential upside of 20.64% from the company’s current price.

Several other research analysts have also issued reports on MNDY. Barclays raised their target price on monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. DA Davidson restated a “neutral” rating and set a $300.00 price objective on shares of monday.com in a research report on Tuesday, November 12th. Needham & Company LLC upped their target price on monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. KeyCorp downgraded shares of monday.com from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Finally, TD Cowen boosted their price target on shares of monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $310.48.

monday.com Trading Up 0.6 %

NASDAQ:MNDY opened at $242.05 on Thursday. The stock’s 50-day moving average is $256.02 and its 200-day moving average is $259.37. monday.com has a 1-year low of $174.75 and a 1-year high of $324.99. The stock has a market cap of $11.69 billion, a P/E ratio of 590.37, a price-to-earnings-growth ratio of 5.41 and a beta of 1.30.

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

Hedge Funds Weigh In On monday.com

A number of institutional investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. acquired a new stake in monday.com in the 3rd quarter valued at $43,000. Toronto Dominion Bank acquired a new position in shares of monday.com during the second quarter valued at about $120,000. Vestcor Inc increased its position in shares of monday.com by 31.4% during the third quarter. Vestcor Inc now owns 519 shares of the company’s stock worth $144,000 after acquiring an additional 124 shares in the last quarter. Larson Financial Group LLC raised its holdings in shares of monday.com by 645.7% in the 3rd quarter. Larson Financial Group LLC now owns 604 shares of the company’s stock worth $168,000 after acquiring an additional 523 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. lifted its position in monday.com by 18.2% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company’s stock valued at $181,000 after acquiring an additional 100 shares in the last quarter. 73.70% of the stock is owned by institutional investors and hedge funds.

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.