BTIG Research Begins Coverage on monday.com (NASDAQ:MNDY)

Research analysts at BTIG Research initiated coverage on shares of monday.com (NASDAQ:MNDY) in a research report issued to clients and investors on Tuesday, MarketBeat Ratings reports. The firm set a “buy” rating on the stock.

A number of other research analysts have also issued reports on the company. Guggenheim initiated coverage on monday.com in a research report on Thursday, December 4th. They set a “buy” rating and a $250.00 price target for the company. JPMorgan Chase & Co. cut their price objective on shares of monday.com from $285.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Robert W. Baird reduced their price objective on shares of monday.com from $240.00 to $210.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. UBS Group set a $202.00 target price on shares of monday.com in a research note on Tuesday, November 11th. Finally, Wells Fargo & Company dropped their price target on shares of monday.com from $260.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $260.61.

monday.com Stock Performance

NASDAQ MNDY opened at $144.67 on Tuesday. The firm has a market capitalization of $7.34 billion, a PE ratio of 117.62, a price-to-earnings-growth ratio of 5.93 and a beta of 1.27. monday.com has a one year low of $141.20 and a one year high of $342.64. The company has a 50-day simple moving average of $170.12 and a 200-day simple moving average of $217.52.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, November 10th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.89 by $0.27. The company had revenue of $316.86 million for the quarter, compared to analyst estimates of $312.26 million. monday.com had a net margin of 5.58% and a return on equity of 5.99%. monday.com’s revenue was up 26.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.85 earnings per share. Equities analysts forecast that monday.com will post 0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MNDY. Charles Schwab Investment Management Inc. grew its holdings in shares of monday.com by 2.4% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 25,539 shares of the company’s stock worth $6,210,000 after acquiring an additional 603 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of monday.com by 3.9% in the first quarter. Northern Trust Corp now owns 405,672 shares of the company’s stock worth $98,643,000 after buying an additional 15,268 shares during the period. Korea Investment CORP raised its holdings in shares of monday.com by 1.4% during the first quarter. Korea Investment CORP now owns 14,658 shares of the company’s stock valued at $3,564,000 after acquiring an additional 200 shares during the period. Hsbc Holdings PLC lifted its position in shares of monday.com by 3.3% in the 1st quarter. Hsbc Holdings PLC now owns 15,316 shares of the company’s stock valued at $3,696,000 after acquiring an additional 488 shares in the last quarter. Finally, Capital Fund Management S.A. boosted its stake in monday.com by 121.5% in the 1st quarter. Capital Fund Management S.A. now owns 72,064 shares of the company’s stock worth $17,523,000 after purchasing an additional 39,536 shares during the period. 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.