Piper Sandler Reaffirms Overweight Rating for monday.com (NASDAQ:MNDY)

monday.com (NASDAQ:MNDY)‘s stock had its “overweight” rating reiterated by investment analysts at Piper Sandler in a report issued on Friday, Benzinga reports. They presently have a $270.00 price target on the stock. Piper Sandler’s price objective would indicate a potential upside of 15.75% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. Canaccord Genuity Group upped their target price on shares of monday.com from $220.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. JPMorgan Chase & Co. raised their target price on shares of monday.com from $230.00 to $270.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. William Blair restated an “outperform” rating on shares of monday.com in a research report on Monday, June 24th. Wells Fargo & Company increased their price target on monday.com from $260.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, May 16th. Finally, DA Davidson boosted their price objective on monday.com from $190.00 to $230.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. Three investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, monday.com currently has an average rating of “Moderate Buy” and an average target price of $255.83.

monday.com Stock Performance

Shares of MNDY stock traded up $1.93 on Friday, reaching $233.26. 227,749 shares of the company were exchanged, compared to its average volume of 825,763. monday.com has a 1 year low of $122.13 and a 1 year high of $251.48. The company has a market cap of $11.26 billion, a price-to-earnings ratio of 612.84, a P/E/G ratio of 46.92 and a beta of 1.30. The business has a 50-day moving average price of $224.02 and a 200 day moving average price of $212.80.

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

Institutional Investors Weigh In On monday.com

Institutional investors have recently modified their holdings of the company. Desjardins Global Asset Management Inc. lifted its position in shares of monday.com by 222.0% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the company’s stock worth $25,000 after purchasing an additional 91 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its holdings in monday.com by 2.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 34,044 shares of the company’s stock worth $65,000 after buying an additional 691 shares in the last quarter. PNC Financial Services Group Inc. boosted its position in monday.com by 373.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 393 shares of the company’s stock valued at $74,000 after buying an additional 310 shares during the period. Industrial Alliance Investment Management Inc. grew its stake in shares of monday.com by 741.7% in the first quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock worth $91,000 after acquiring an additional 356 shares in the last quarter. Finally, RiverPark Advisors LLC purchased a new stake in shares of monday.com during the first quarter worth $130,000. 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.