monday.com (NASDAQ:MNDY) Stock Price Expected to Rise, Scotiabank Analyst Says

monday.com (NASDAQ:MNDY) had its price objective lifted by analysts at Scotiabank from $300.00 to $400.00 in a research note issued on Tuesday,Benzinga reports. The firm currently has a “sector outperform” rating on the stock. Scotiabank’s price objective points to a potential upside of 19.65% from the company’s current price.

A number of other research firms have also issued reports on MNDY. William Blair reissued an “outperform” rating on shares of monday.com in a research report on Wednesday, December 18th. Loop Capital decreased their price objective on monday.com from $310.00 to $300.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Wells Fargo & Company raised their price target on monday.com from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Tuesday. Cantor Fitzgerald began coverage on monday.com in a research report on Friday, January 17th. They issued an “overweight” rating and a $292.00 target price on the stock. Finally, Canaccord Genuity Group raised their price objective on shares of monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Four analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $341.36.

monday.com Trading Up 2.4 %

MNDY stock traded up $7.72 during midday trading on Tuesday, hitting $334.30. 159,008 shares of the company’s stock were exchanged, compared to its average volume of 1,131,497. The firm has a 50 day moving average price of $250.37 and a 200-day moving average price of $262.04. The stock has a market capitalization of $16.14 billion, a price-to-earnings ratio of 812.32, a price-to-earnings-growth ratio of 7.67 and a beta of 1.31. monday.com has a 12-month low of $174.75 and a 12-month high of $342.64.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, February 10th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a return on equity of 4.99% and a net margin of 2.39%. On average, sell-side analysts forecast that monday.com will post 0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of monday.com by 112.0% in the 3rd quarter. FMR LLC now owns 1,512,094 shares of the company’s stock valued at $420,014,000 after purchasing an additional 798,791 shares during the last quarter. SG Americas Securities LLC boosted its holdings in monday.com by 1,024.7% during the fourth quarter. SG Americas Securities LLC now owns 476,392 shares of the company’s stock worth $112,162,000 after buying an additional 434,035 shares in the last quarter. Jennison Associates LLC grew its holdings in monday.com by 77.5% in the third quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after purchasing an additional 318,837 shares during the period. Allspring Global Investments Holdings LLC raised its position in monday.com by 431.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock worth $107,176,000 after acquiring an additional 313,279 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in monday.com in the 4th quarter valued at $27,010,000. Hedge funds and other 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.