Canaccord Genuity Group Issues Positive Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its price objective boosted by Canaccord Genuity Group from $310.00 to $375.00 in a report published on Tuesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts have also issued reports about the stock. Oppenheimer increased their price target on shares of monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. DA Davidson increased their price objective on shares of monday.com from $300.00 to $350.00 and gave the company a “neutral” rating in a research report on Tuesday. KeyCorp raised shares of monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 price objective for the company in a research report on Tuesday. Loop Capital decreased their price objective on shares of monday.com from $310.00 to $300.00 and set a “buy” rating for the company in a research report on Monday, December 23rd. Finally, Wells Fargo & Company increased their price objective on shares of monday.com from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $353.32.

monday.com Stock Performance

MNDY stock opened at $320.33 on Tuesday. The firm has a market cap of $15.46 billion, a price-to-earnings ratio of 781.29, a PEG ratio of 7.67 and a beta of 1.31. The firm has a 50-day simple moving average of $252.51 and a two-hundred day simple moving average of $263.46. monday.com has a one year low of $174.75 and a one year high of $342.64.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, February 10th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a net margin of 2.39% and a return on equity of 4.99%. As a group, equities analysts predict that monday.com will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On monday.com

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. FMR LLC grew its stake in shares of monday.com by 78.7% during the 4th quarter. FMR LLC now owns 2,701,952 shares of the company’s stock worth $636,147,000 after purchasing an additional 1,189,858 shares during the period. Jennison Associates LLC grew its stake in shares of monday.com by 13.7% during the 4th quarter. Jennison Associates LLC now owns 830,811 shares of the company’s stock worth $195,606,000 after purchasing an additional 100,333 shares during the period. Westfield Capital Management Co. LP grew its stake 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 during the period. State Street Corp grew its stake in shares of monday.com by 3.8% during the 3rd quarter. State Street Corp now owns 587,879 shares of the company’s stock worth $163,295,000 after purchasing an additional 21,585 shares during the period. Finally, CIBC Private Wealth Group LLC grew its stake in shares of monday.com by 264.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company’s stock worth $126,407,000 after purchasing an additional 403,255 shares during the period. 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.