monday.com (NASDAQ:MNDY) Given New $340.00 Price Target at Wells Fargo & Company

monday.com (NASDAQ:MNDY) had its price target boosted by Wells Fargo & Company from $330.00 to $340.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other analysts have also recently weighed in on the company. Loop Capital reduced their price target on monday.com from $310.00 to $300.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Canaccord Genuity Group boosted their target price on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. William Blair reiterated an “outperform” rating on shares of monday.com in a report on Wednesday, December 18th. Barclays boosted their price objective on shares of monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Finally, KeyCorp lowered shares of monday.com from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $310.68.

monday.com Stock Up 2.2 %

monday.com stock opened at $247.46 on Tuesday. monday.com has a 12 month low of $174.75 and a 12 month high of $324.99. The company’s fifty day simple moving average is $255.09 and its 200-day simple moving average is $259.62. The stock has a market cap of $11.95 billion, a P/E ratio of 603.56, a P/E/G ratio of 6.00 and a beta of 1.30.

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

Hedge Funds Weigh In On monday.com

Hedge funds have recently modified their holdings of the stock. FMR LLC grew its position in monday.com by 112.0% in the third quarter. FMR LLC now owns 1,512,094 shares of the company’s stock valued at $420,014,000 after acquiring an additional 798,791 shares during the period. Jennison Associates LLC grew its holdings in shares of monday.com by 77.5% in the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock worth $202,905,000 after purchasing an additional 318,837 shares during the last quarter. Westfield Capital Management Co. LP increased its position in shares of monday.com by 2.4% during the 3rd quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company’s stock worth $166,767,000 after purchasing an additional 14,304 shares in the last quarter. State Street Corp lifted its holdings in monday.com by 3.8% during the 3rd quarter. State Street Corp now owns 587,879 shares of the company’s stock valued at $163,295,000 after purchasing an additional 21,585 shares during the last quarter. Finally, Two Sigma Advisers LP boosted its position in monday.com by 2.9% in the third quarter. Two Sigma Advisers LP now owns 540,300 shares of the company’s stock valued at $150,079,000 after buying an additional 15,300 shares in the last quarter. 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.