monday.com (NASDAQ:MNDY) Upgraded by Scotiabank to “Strong-Buy” Rating

Scotiabank upgraded shares of monday.com (NASDAQ:MNDY) to a strong-buy rating in a research report report published on Monday morning,Zacks.com reports.

A number of other equities research analysts also recently commented on the company. Tigress Financial upped their price objective on monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Wells Fargo & Company raised their price target on shares of monday.com from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Baird R W raised monday.com to a “hold” rating in a research report on Tuesday, July 23rd. DA Davidson reaffirmed a “neutral” rating and set a $300.00 price target on shares of monday.com in a report on Tuesday, November 12th. Finally, UBS Group increased their target price on monday.com from $240.00 to $280.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $310.81.

monday.com Stock Performance

Shares of MNDY opened at $257.02 on Monday. monday.com has a twelve month low of $168.28 and a twelve month high of $324.99. The firm’s 50 day moving average price is $281.02 and its 200 day moving average price is $249.95. The firm has a market cap of $12.41 billion, a PE ratio of 626.88, a PEG ratio of 12.26 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. The business had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The firm’s revenue for the quarter was up 49.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.15 earnings per share. On average, sell-side analysts anticipate that monday.com will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

Several institutional investors have recently made changes to their positions in MNDY. Mirae Asset Global Investments Co. Ltd. bought a new stake in monday.com in the 3rd quarter valued at about $43,000. Ridgewood Investments LLC bought a new stake in monday.com during the 2nd quarter worth approximately $45,000. Gilliland Jeter Wealth Management LLC raised its stake in shares of monday.com by 72.9% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock worth $58,000 after purchasing an additional 102 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of monday.com in the second quarter valued at approximately $69,000. Finally, Industrial Alliance Investment Management Inc. boosted its position in shares of monday.com by 741.7% during the first quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock valued at $91,000 after buying an additional 356 shares during the last quarter. Institutional investors and hedge funds 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.