monday.com Ltd. (NASDAQ:MNDY) Stock Now Rated “Moderate Buy” by Sell-Side Brokerages

Shares of monday.com Ltd. (NASDAQ:MNDY) have been assigned a consensus recommendation of “Moderate Buy” from the twenty-five ratings firms that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, nine have assigned a hold recommendation, fourteen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $117.91.

Several research firms have recently weighed in on MNDY. Jefferies Financial Group reiterated a “hold” rating and set a $95.00 price target on shares of monday.com in a research note on Monday, August 10th. Piper Sandler reiterated a “neutral” rating and set a $90.00 target price on shares of monday.com in a research report on Monday, August 10th. Capital One Financial lowered shares of monday.com from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a research report on Monday, August 10th. Wall Street Zen upgraded shares of monday.com from a “hold” rating to a “buy” rating in a research note on Saturday, September 19th. Finally, Zacks Research raised shares of monday.com from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th.

Institutional Investors Weigh In On monday.com

Several institutional investors have recently made changes to their positions in the stock. Capital World Investors raised its stake in monday.com by 91.4% in the fourth quarter. Capital World Investors now owns 3,286,461 shares of the company’s stock valued at $484,950,000 after purchasing an additional 1,569,198 shares in the last quarter. Renaissance Technologies LLC grew its stake in monday.com by 93.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock worth $150,797,000 after buying an additional 1,052,900 shares in the last quarter. Norges Bank bought a new position in shares of monday.com in the 4th quarter worth $79,789,000. RPD Fund Management LLC purchased a new stake in shares of monday.com during the 1st quarter valued at $17,529,000. Finally, BNP Paribas Financial Markets lifted its holdings in shares of monday.com by 1,517.6% during the 4th quarter. BNP Paribas Financial Markets now owns 172,016 shares of the company’s stock worth $25,383,000 after acquiring an additional 161,382 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Trading Down 0.5%

monday.com stock opened at $86.00 on Friday. The business’s 50 day simple moving average is $88.45 and its 200 day simple moving average is $79.29. 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 $4.40 billion, a price-to-earnings ratio of 36.60, a PEG ratio of 1.99 and a beta of 1.15.

monday.com (NASDAQ:MNDY) last released 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 business had revenue of $364.62 million during the quarter, compared to the consensus estimate of $355.55 million. monday.com had a return on equity of 9.09% and a net margin of 8.87%.The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period last year, the business posted $1.09 earnings per share. As a group, equities research analysts forecast that monday.com will post 2.25 earnings per share for the current fiscal year.

monday.com Company Profile

monday.com Ltd. is a software company that provides cloud-based work management and productivity solutions for organizations of various sizes. Its platform is designed to help teams plan projects, manage workflows, coordinate tasks, track progress and collaborate across departments.

The company’s product portfolio includes monday work management, monday CRM, monday dev and monday service. These products support functions such as project and portfolio management, customer relationship management, software development, IT service management and business process automation.