monday.com (NASDAQ:MNDY) Stock Rating Reaffirmed by William Blair

monday.com (NASDAQ:MNDY)‘s stock had its “outperform” rating restated by William Blair in a report released on Monday, RTT News reports.

Other analysts also recently issued reports about the company. Citigroup downgraded monday.com from a “buy” rating to a “neutral” rating and cut their target price for the company from $277.00 to $250.00 in a research report on Wednesday, April 10th. Needham & Company LLC reiterated a “buy” rating and set a $250.00 target price on shares of monday.com in a research report on Monday, June 17th. The Goldman Sachs Group upped their target price on monday.com from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Tigress Financial upped their target price on monday.com from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Finally, Bank of America assumed coverage on monday.com in a research report on Monday, February 26th. They set a “buy” rating and a $280.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, monday.com currently has a consensus rating of “Moderate Buy” and an average price target of $252.50.

monday.com Price Performance

MNDY opened at $223.78 on Monday. The business has a fifty day simple moving average of $211.41 and a 200 day simple moving average of $208.80. The company has a market capitalization of $10.80 billion, a PE ratio of 588.91 and a beta of 1.30. monday.com has a 1 year low of $122.13 and a 1 year high of $249.00.

monday.com (NASDAQ:MNDY) last released its earnings results on Wednesday, May 15th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.25. The firm had revenue of $216.91 million during the quarter, compared to the consensus estimate of $210.33 million. monday.com had a return on equity of 2.42% and a net margin of 2.53%. Equities analysts anticipate that monday.com will post 0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

A number of institutional investors and hedge funds have recently bought and sold shares of the company. DekaBank Deutsche Girozentrale increased its stake in shares of monday.com by 1,175.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 17,480 shares of the company’s stock valued at $3,927,000 after buying an additional 16,109 shares during the period. Cetera Advisors LLC acquired a new stake in shares of monday.com in the first quarter valued at about $264,000. Washington Harbour Partners LP acquired a new stake in shares of monday.com in the first quarter valued at about $1,400,000. iA Global Asset Management Inc. increased its stake in shares of monday.com by 803.3% in the first quarter. iA Global Asset Management Inc. now owns 10,451 shares of the company’s stock valued at $2,361,000 after buying an additional 9,294 shares during the period. Finally, Tidal Investments LLC increased its stake in shares of monday.com by 1,626.7% in the first quarter. Tidal Investments LLC now owns 20,530 shares of the company’s stock valued at $4,637,000 after buying an additional 19,341 shares during the period. 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.