monday.com (NASDAQ:MNDY) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of monday.com (NASDAQ:MNDY) from a hold rating to a buy rating in a research note released on Monday morning,Wall Street Zen reports.

Other equities research analysts also recently issued research reports about the stock. Wells Fargo & Company lowered their price objective on shares of monday.com from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. UBS Group boosted their price objective on shares of monday.com from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. TD Cowen reaffirmed a “buy” rating and set a $110.00 price objective on shares of monday.com in a research report on Tuesday, August 11th. Weiss Ratings reissued a “sell (d+)” rating on shares of monday.com in a research report on Tuesday, September 8th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $105.00 price target on shares of monday.com in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, monday.com presently has an average rating of “Moderate Buy” and a consensus price target of $111.70.

monday.com Stock Performance

Shares of NASDAQ:MNDY opened at $83.51 on Monday. The stock’s 50-day moving average is $88.78 and its 200-day moving average is $79.61. The company has a market cap of $4.27 billion, a P/E ratio of 35.54, a P/E/G ratio of 1.90 and a beta of 1.14. monday.com has a 52-week low of $57.50 and a 52-week high of $210.49.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.37. The business had revenue of $364.62 million during the quarter, compared to analysts’ expectations of $355.55 million. monday.com had a return on equity of 9.09% and a net margin of 8.87%.The firm’s revenue was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.09 EPS. As a group, equities analysts predict that monday.com will post 2.34 EPS for the current year.

Hedge Funds Weigh In On monday.com

Hedge funds have recently modified their holdings of the stock. Sequoia Financial Advisors LLC lifted its position in shares of monday.com by 60.2% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 6,312 shares of the company’s stock worth $457,000 after buying an additional 2,373 shares during the period. Engineers Gate Manager LP boosted its stake in shares of monday.com by 29.5% in the 2nd quarter. Engineers Gate Manager LP now owns 38,981 shares of the company’s stock valued at $2,822,000 after purchasing an additional 8,891 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of monday.com in the 2nd quarter worth about $5,098,000. Public Employees Retirement System of Ohio acquired a new stake in shares of monday.com during the 2nd quarter worth about $970,000. Finally, Plato Investment Management Ltd acquired a new stake in shares of monday.com during the 2nd quarter worth about $432,000. 73.70% of the stock is owned by institutional investors and hedge funds.

monday.com Company Profile

monday.com Ltd. develops cloud-based software designed to help organizations plan, manage and track work. Its platform provides customizable workflows, visual boards, dashboards, automations and collaboration tools that teams can use to coordinate projects, processes and day-to-day operations.

The company offers a portfolio of products built on its Work Operating System, including monday work management for project and task coordination, monday CRM for sales and customer-management activities, monday dev for software-development teams and monday service for service-management workflows.