monday.com (NASDAQ:MNDY) Price Target Raised to $280.00

monday.com (NASDAQ:MNDY) had its price objective lifted by research analysts at UBS Group from $240.00 to $280.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price objective suggests a potential upside of 7.21% from the stock’s current price.

Other research analysts also recently issued reports about the stock. Wells Fargo & Company boosted their price objective on shares of monday.com from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Wolfe Research started coverage on shares of monday.com in a report on Tuesday, July 9th. They set an “outperform” rating and a $300.00 price target for the company. The Goldman Sachs Group upped their price target on shares of monday.com from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. Canaccord Genuity Group increased their price objective on monday.com from $250.00 to $295.00 and gave the company a “buy” rating in a report on Tuesday. Finally, KeyCorp decreased their price objective on monday.com from $280.00 to $270.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $270.53.

monday.com Price Performance

MNDY traded up $2.12 during trading on Tuesday, hitting $261.17. 201,525 shares of the stock traded hands, compared to its average volume of 795,782. monday.com has a twelve month low of $122.13 and a twelve month high of $265.97. The company has a market cap of $12.61 billion, a price-to-earnings ratio of 686.42, a PEG ratio of 43.41 and a beta of 1.30. The business has a 50 day moving average price of $228.86 and a 200 day moving average price of $218.68.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Wednesday, May 15th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of ($0.11) by $0.25. monday.com had a net margin of 2.53% and a return on equity of 2.42%. The business had revenue of $216.91 million during the quarter, compared to the consensus estimate of $210.33 million. On average, equities research analysts predict that monday.com will post 0.12 earnings per share for the current year.

Hedge Funds Weigh In On monday.com

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Public Employees Retirement Association of Colorado boosted its position in shares of monday.com by 43.1% during the 2nd quarter. Public Employees Retirement Association of Colorado now owns 7,300 shares of the company’s stock worth $1,758,000 after purchasing an additional 2,200 shares in the last quarter. XTX Topco Ltd boosted its position in shares of monday.com by 297.9% during the 2nd quarter. XTX Topco Ltd now owns 6,868 shares of the company’s stock worth $1,654,000 after purchasing an additional 5,142 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its position in shares of monday.com by 12.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 2,602 shares of the company’s stock worth $626,000 after purchasing an additional 286 shares in the last quarter. Mercer Global Advisors Inc. ADV boosted its position in shares of monday.com by 4.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 1,124 shares of the company’s stock worth $271,000 after purchasing an additional 47 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in shares of monday.com by 20.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock worth $270,299,000 after purchasing an additional 188,800 shares in the last quarter. Institutional investors own 73.70% of the company’s stock.

About monday.com

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.