monday.com (NASDAQ:MNDY) Stock Rating Upgraded by Cantor Fitzgerald

monday.com (NASDAQ:MNDY) was upgraded by equities research analysts at Cantor Fitzgerald to a “strong-buy” rating in a research note issued to investors on Thursday, MarketBeat reports. The brokerage presently has a $292.00 target price on the stock. Cantor Fitzgerald’s price objective would indicate a potential upside of 20.64% from the company’s previous close.

MNDY has been the topic of several other research reports. William Blair reissued an “outperform” rating on shares of monday.com in a report on Wednesday, December 18th. Robert W. Baird raised their target price on shares of monday.com from $265.00 to $270.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Canaccord Genuity Group upped their price target on shares of monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Capital One Financial initiated coverage on shares of monday.com in a research note on Thursday, October 10th. They set an “overweight” rating and a $325.00 price objective for the company. Finally, Scotiabank reduced their target price on monday.com from $325.00 to $300.00 and set a “sector outperform” rating on the stock in a research note on Thursday. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.48.

monday.com Stock Performance

Shares of MNDY opened at $242.05 on Thursday. monday.com has a 1 year low of $174.75 and a 1 year high of $324.99. The stock has a market capitalization of $11.69 billion, a PE ratio of 590.37, a P/E/G ratio of 5.41 and a beta of 1.30. The company’s 50-day simple moving average is $256.02 and its 200-day simple moving average is $259.37.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MNDY. SG Americas Securities LLC raised its holdings in shares of monday.com by 1,024.7% in the 4th quarter. SG Americas Securities LLC now owns 476,392 shares of the company’s stock worth $112,162,000 after purchasing an additional 434,035 shares during the period. Legal Advantage Investments Inc. acquired a new position in monday.com during the fourth quarter valued at approximately $235,000. Oak Ridge Investments LLC purchased a new stake in monday.com during the fourth quarter worth approximately $633,000. Channel Wealth LLC purchased a new stake in monday.com during the fourth quarter worth approximately $986,000. Finally, Park Avenue Securities LLC acquired a new stake in shares of monday.com in the fourth quarter worth $241,000. Institutional investors and hedge funds 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.