monday.com (NASDAQ:MNDY) Upgraded by Baird R W to “Hold”

Baird R W upgraded shares of monday.com (NASDAQ:MNDY) to a hold rating in a report issued on Tuesday, Zacks.com reports.

Several other research analysts have also weighed in on the stock. DA Davidson increased their price objective on shares of monday.com from $190.00 to $230.00 and gave the stock a neutral rating in a report on Thursday, May 16th. Canaccord Genuity Group increased their price objective 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. Needham & Company LLC reiterated a buy rating and set a $250.00 price objective on shares of monday.com in a report on Monday, June 17th. Piper Sandler reiterated an overweight rating and set a $270.00 price objective on shares of monday.com in a report on Friday, July 12th. Finally, KeyCorp cut their price objective on shares of monday.com from $280.00 to $270.00 and set an overweight rating on the stock in a report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $255.53.

monday.com Trading Down 1.7 %

Shares of monday.com stock traded down $3.96 during mid-day trading on Tuesday, hitting $232.53. 175,250 shares of the stock were exchanged, compared to its average volume of 799,315. monday.com has a twelve month low of $122.13 and a twelve month high of $251.48. The stock has a market capitalization of $11.23 billion, a price-to-earnings ratio of 622.36, a price-to-earnings-growth ratio of 47.12 and a beta of 1.30. The company has a 50-day simple moving average of $231.64 and a 200 day simple moving average of $216.01.

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

Institutional Trading of monday.com

A number of hedge funds have recently made changes to their positions in the company. WCM Investment Management LLC purchased a new stake in shares of monday.com during the first quarter valued at approximately $728,521,000. Price T Rowe Associates Inc. MD raised its stake in shares of monday.com by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,164,566 shares of the company’s stock valued at $714,781,000 after purchasing an additional 31,304 shares during the period. 1832 Asset Management L.P. raised its stake in shares of monday.com by 12.1% during the fourth quarter. 1832 Asset Management L.P. now owns 860,300 shares of the company’s stock valued at $161,573,000 after purchasing an additional 92,600 shares during the period. Jennison Associates LLC grew its position in shares of monday.com by 12.1% during the first quarter. Jennison Associates LLC now owns 782,154 shares of the company’s stock worth $176,665,000 after buying an additional 84,182 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its position in shares of monday.com by 33.0% during the first quarter. Westfield Capital Management Co. LP now owns 415,584 shares of the company’s stock worth $93,868,000 after buying an additional 103,094 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

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.