Canaccord Genuity Group Boosts monday.com (NASDAQ:MNDY) Price Target to $295.00

monday.com (NASDAQ:MNDY) had its price target upped by equities research analysts at Canaccord Genuity Group from $250.00 to $295.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Canaccord Genuity Group’s target price suggests a potential upside of 13.74% from the company’s previous close.

MNDY has been the topic of a number of other reports. Oppenheimer lifted their price objective on shares of monday.com from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Wells Fargo & Company boosted their price target on shares of monday.com from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Piper Sandler reiterated an “overweight” rating and issued a $300.00 price objective (up previously from $270.00) on shares of monday.com in a research note on Monday. Needham & Company LLC boosted their target price on monday.com from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Barclays began coverage on monday.com in a research report on Wednesday, June 26th. They set an “overweight” rating and a $275.00 price target for the company. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, monday.com presently has an average rating of “Moderate Buy” and a consensus price target of $282.63.

monday.com Stock Performance

MNDY stock opened at $259.36 on Tuesday. The business has a 50-day simple moving average of $230.69 and a two-hundred day simple moving average of $219.34. The company has a market capitalization of $12.52 billion, a P/E ratio of 682.53, a price-to-earnings-growth ratio of 43.41 and a beta of 1.30. monday.com has a 52-week low of $122.13 and a 52-week high of $265.97.

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

Institutional Investors Weigh In On monday.com

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Desjardins Global Asset Management Inc. grew its position in shares of monday.com by 222.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the company’s stock valued at $25,000 after purchasing an additional 91 shares in the last quarter. Ridgewood Investments LLC purchased a new position in monday.com during the 2nd quarter valued at about $45,000. Gilliland Jeter Wealth Management LLC increased its position in shares of monday.com by 72.9% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after buying an additional 102 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of monday.com by 2.1% in the fourth 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. Finally, Opal Wealth Advisors LLC bought a new position in shares of monday.com in the second quarter valued at approximately $69,000. 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.