monday.com (NASDAQ:MNDY) Stock Rating Reaffirmed as “Buy” by Needham & Company LLC

monday.com (NASDAQ:MNDY)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a report issued on Tuesday, MarketBeat Ratings reports. They presently have a $125.00 target price on the stock. Needham & Company LLC‘s price target would suggest a potential upside of 25.49% from the stock’s current price.

MNDY has been the subject of a number of other reports. JPMorgan Chase & Co. cut shares of monday.com from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $90.00 to $87.00 in a research report on Tuesday, September 29th. Cantor Fitzgerald cut shares of monday.com from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $112.00 to $90.00 in a research report on Monday, August 10th. Wells Fargo & Company reduced their price objective on shares of monday.com from $130.00 to $120.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Barclays cut shares of monday.com from an “overweight” rating to an “equal weight” rating and set a $100.00 price objective for the company. in a research report on Monday, October 12th. Finally, Capital One Financial cut shares of monday.com from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a research report on Monday, August 10th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat, monday.com presently has a consensus rating of “Moderate Buy” and an average price target of $111.70.

monday.com Stock Down 4.0%

Shares of NASDAQ:MNDY traded down $4.16 during midday trading on Tuesday, hitting $99.61. The stock had a trading volume of 838,631 shares, compared to its average volume of 1,777,110. The business’s 50-day simple moving average is $90.10 and its 200-day simple moving average is $85.01. monday.com has a 12 month low of $57.50 and a 12 month high of $210.49. The company has a market cap of $5.10 billion, a P/E ratio of 42.39, a PEG ratio of 2.40 and a beta of 1.14.

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

Insider Activity

In other news, Director Aviad Eyal sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $100.04, for a total value of $200,080.00. Following the completion of the sale, the director owned 203,455 shares of the company’s stock, valued at approximately $20,353,638.20. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On monday.com

A number of institutional investors have recently modified their holdings of the business. Oppenheimer & Co. Inc. acquired a new position in monday.com in the third quarter valued at about $201,000. Signaturefd LLC raised its stake in monday.com by 28.3% during the third quarter. Signaturefd LLC now owns 4,469 shares of the company’s stock worth $351,000 after acquiring an additional 987 shares in the last quarter. Quadrant Capital Group LLC acquired a new position in monday.com during the third quarter worth about $235,000. Sequoia Financial Advisors LLC raised its stake in monday.com by 60.2% during the second quarter. Sequoia Financial Advisors LLC now owns 6,312 shares of the company’s stock worth $457,000 after acquiring an additional 2,373 shares in the last quarter. Finally, Engineers Gate Manager LP raised its stake in monday.com by 29.5% during the second quarter. Engineers Gate Manager LP now owns 38,981 shares of the company’s stock worth $2,822,000 after acquiring an additional 8,891 shares in the last quarter. Institutional investors own 73.70% of the company’s stock.

monday.com Company Profile

monday.com Ltd. is a software company that provides a cloud-based Work Operating System (Work OS) designed to help organizations manage projects, workflows and business operations. Its platform uses configurable boards, dashboards, automations, integrations and collaboration tools, enabling teams to organize work and build workflows without extensive software development.

The company offers products tailored to several business functions, including monday work management for project and task coordination, monday CRM for sales and customer relationship processes, monday dev for software development teams, and monday service for managing customer support and service operations.