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

monday.com (NASDAQ:MNDY)‘s stock had its “buy” rating restated by analysts at Needham & Company LLC in a research note issued on Tuesday, Marketbeat.com reports. They currently have a $125.00 price objective on the stock. Needham & Company LLC‘s price objective indicates a potential upside of 25.67% from the stock’s current price.

A number of other analysts also recently issued reports on the stock. Cantor Fitzgerald downgraded shares of monday.com from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $112.00 to $90.00 in a research report on Monday, August 10th. Wolfe Research cut monday.com from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 11th. Weiss Ratings upgraded monday.com from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday, October 15th. UBS Group boosted their price objective on monday.com from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Finally, TD Cowen restated a “buy” rating and set a $110.00 price objective on shares of monday.com in a research note on Tuesday, August 11th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, monday.com currently has an average rating of “Moderate Buy” and an average price target of $111.70.

monday.com Stock Performance

MNDY traded down $4.30 on Tuesday, reaching $99.47. 538,922 shares of the company’s stock were exchanged, compared to its average volume of 1,775,255. The company’s 50 day moving average is $90.10 and its 200-day moving average is $85.01. The company has a market cap of $5.09 billion, a price-to-earnings ratio of 42.33, a PEG ratio of 2.40 and a beta of 1.14. monday.com has a twelve month low of $57.50 and a twelve month high of $210.49.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.37. The firm had revenue of $364.62 million during the quarter, compared to the consensus estimate of $355.55 million. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The company’s revenue was up 21.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.09 EPS. Sell-side analysts forecast that monday.com will post 2.34 EPS for the current year.

Insider Activity at monday.com

In related news, Director Aviad Eyal sold 2,000 shares of the business’s stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $100.04, for a total value of $200,080.00. Following the transaction, the director owned 203,455 shares in the company, valued at approximately $20,353,638.20. The trade was a 0.97% decrease in their ownership of the stock. The transaction 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. Company insiders own 22.30% of the company’s stock.

Hedge Funds Weigh In On monday.com

A number of institutional investors have recently made changes to their positions in MNDY. Renaissance Technologies LLC raised its position in shares of monday.com by 93.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock valued at $150,797,000 after purchasing an additional 1,052,900 shares in the last quarter. RPD Fund Management LLC acquired a new position in shares of monday.com in the 1st quarter valued at approximately $17,529,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of monday.com in the 2nd quarter valued at approximately $5,098,000. Counterpoint Mutual Funds LLC raised its position in shares of monday.com by 2,038.1% in the 1st quarter. Counterpoint Mutual Funds LLC now owns 73,507 shares of the company’s stock valued at $5,080,000 after purchasing an additional 70,069 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of monday.com by 33.6% in the 1st quarter. Bank of America Corp DE now owns 194,635 shares of the company’s stock valued at $13,451,000 after purchasing an additional 49,002 shares in the last quarter. 73.70% of the stock is owned by institutional investors and hedge funds.

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.