JPMorgan Chase & Co. Raises monday.com (NASDAQ:MNDY) Price Target to $300.00

monday.com (NASDAQ:MNDY) had its price objective lifted by equities researchers at JPMorgan Chase & Co. from $270.00 to $300.00 in a report issued on Tuesday, Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 14.31% from the stock’s previous close.

Several other equities research analysts have also weighed in on MNDY. Wolfe Research began coverage on monday.com in a research report on Tuesday, July 9th. They set an “outperform” rating and a $300.00 target price on the stock. Wells Fargo & Company upped their price target on shares of monday.com from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. UBS Group lifted their price objective on shares of monday.com from $240.00 to $280.00 and gave the company a “neutral” rating in a research note on Tuesday. William Blair reiterated an “outperform” rating on shares of monday.com in a research note on Monday, June 24th. Finally, Barclays boosted their price target on monday.com from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $278.42.

monday.com Stock Up 1.3 %

Shares of MNDY traded up $3.39 during trading on Tuesday, reaching $262.44. 502,991 shares of the company traded hands, compared to its average volume of 797,860. The stock has a market cap of $12.67 billion, a PE ratio of 692.42, a price-to-earnings-growth ratio of 43.41 and a beta of 1.30. The stock has a 50-day simple moving average of $228.86 and a 200-day simple moving average of $218.68. monday.com has a twelve month low of $122.13 and a twelve month high of $265.97.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Wednesday, May 15th. The company reported $0.14 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 during the quarter, compared to analysts’ expectations of $210.33 million. On average, equities research analysts predict that monday.com will post 0.12 EPS for the current year.

Institutional Trading of monday.com

A number of hedge funds have recently modified their holdings of the company. WCM Investment Management LLC acquired a new position in monday.com during the 1st quarter worth about $728,521,000. Price T Rowe Associates Inc. MD boosted its stake in monday.com by 1.0% in 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 acquiring an additional 31,304 shares during the last quarter. Renaissance Technologies LLC lifted its stake in shares of monday.com by 20.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock valued at $270,299,000 after purchasing an additional 188,800 shares during the period. 1832 Asset Management L.P. increased its stake in shares of monday.com by 12.1% in the 4th quarter. 1832 Asset Management L.P. now owns 860,300 shares of the company’s stock valued at $161,573,000 after acquiring an additional 92,600 shares during the last quarter. Finally, Jennison Associates LLC increased its position in shares of monday.com by 12.1% in the 1st quarter. Jennison Associates LLC now owns 782,154 shares of the company’s stock valued at $176,665,000 after buying an additional 84,182 shares in the last quarter. Institutional investors 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.