JPMorgan Chase & Co. Forecasts Strong Price Appreciation for monday.com (NASDAQ:MNDY) Stock

monday.com (NASDAQ:MNDY) had its price target increased by investment analysts at JPMorgan Chase & Co. from $350.00 to $400.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 25.89% from the stock’s previous close.

Several other equities research analysts also recently weighed in on the company. Scotiabank reduced their price target on monday.com from $325.00 to $300.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 16th. Citigroup upgraded monday.com from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $302.00 to $298.00 in a research report on Thursday, January 16th. William Blair restated an “outperform” rating on shares of monday.com in a report on Wednesday, December 18th. Piper Sandler lifted their price objective on shares of monday.com from $345.00 to $385.00 and gave the company an “overweight” rating in a report on Monday. Finally, DA Davidson restated a “neutral” rating and issued a $300.00 target price on shares of monday.com in a research note on Tuesday, November 12th. Four equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, monday.com has an average rating of “Moderate Buy” and an average price target of $353.32.

monday.com Stock Down 3.1 %

NASDAQ MNDY opened at $317.73 on Tuesday. monday.com has a 52 week low of $174.75 and a 52 week high of $342.64. The firm has a market capitalization of $15.34 billion, a price-to-earnings ratio of 774.95, a PEG ratio of 7.67 and a beta of 1.31. The company has a fifty day moving average of $251.81 and a two-hundred day moving average of $263.06.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, February 10th. The company reported $0.50 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%. Equities research analysts anticipate that monday.com will post 0.85 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new position in monday.com in the second quarter worth $285,000. Inspire Investing LLC acquired a new stake in shares of monday.com in the 3rd quarter worth $870,000. Sapient Capital LLC purchased a new position in monday.com during the 3rd quarter worth $1,282,000. Chicago Capital LLC increased its position in monday.com by 18.9% during the 3rd quarter. Chicago Capital LLC now owns 1,795 shares of the company’s stock valued at $499,000 after buying an additional 285 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in monday.com by 431.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock valued at $107,176,000 after buying an additional 313,279 shares during the last quarter. Institutional investors 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.