Needham & Company LLC Boosts monday.com (NASDAQ:MNDY) Price Target to $300.00

monday.com (NASDAQ:MNDY) had its price target raised by Needham & Company LLC from $250.00 to $300.00 in a research note published on Monday, Benzinga reports. Needham & Company LLC currently has a buy rating on the stock.

Other analysts also recently issued reports about the company. William Blair reaffirmed an outperform rating on shares of monday.com in a research note on Monday, June 24th. KeyCorp cut their target price on monday.com from $280.00 to $270.00 and set an overweight rating for the company in a research note on Tuesday, July 2nd. Wells Fargo & Company raised their target price on monday.com from $260.00 to $275.00 and gave the stock an overweight rating in a research note on Thursday, May 16th. Barclays started coverage on monday.com in a research note on Wednesday, June 26th. They issued an overweight rating and a $275.00 target price for the company. Finally, Oppenheimer raised their price objective on monday.com from $240.00 to $250.00 and gave the stock an outperform rating in a research report on Thursday, May 16th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average target price of $282.63.

monday.com Stock Performance

Shares of MNDY stock opened at $259.36 on Monday. The stock’s fifty day moving average is $230.69 and its two-hundred day moving average is $219.34. The firm has a market capitalization of $12.52 billion, a P/E ratio of 682.53, a PEG ratio of 43.41 and a beta of 1.30. monday.com has a fifty-two week low of $122.13 and a fifty-two week high of $265.97.

monday.com (NASDAQ:MNDY) last issued its earnings results on Wednesday, May 15th. The company reported $0.14 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $210.33 million. On average, equities analysts forecast that monday.com will post 0.12 earnings per share for the current year.

Hedge Funds Weigh In On monday.com

Several institutional investors have recently bought and sold shares of MNDY. WCM Investment Management LLC purchased a new position in shares of monday.com in the 1st quarter valued at about $728,521,000. Jennison Associates LLC purchased a new position in shares of monday.com in the 4th quarter valued at about $131,086,000. Baillie Gifford & Co. purchased a new position in shares of monday.com in the 1st quarter valued at about $76,534,000. Clearbridge Investments LLC boosted its stake in shares of monday.com by 2,851.5% in the 1st quarter. Clearbridge Investments LLC now owns 344,525 shares of the company’s stock valued at $77,818,000 after buying an additional 332,852 shares during the period. Finally, Westfield Capital Management Co. LP purchased a new position in shares of monday.com in the 4th quarter valued at about $58,689,000. 73.70% of the stock is owned by institutional investors and hedge funds.

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.