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

monday.com (NASDAQ:MNDY)‘s stock had its “buy” rating reiterated by Needham & Company LLC in a research report issued on Tuesday, Marketbeat.com reports. They presently have a $125.00 target price on the stock. Needham & Company LLC‘s price target would indicate a potential upside of 25.43% from the company’s current price.

A number of other equities research analysts have also weighed in on the company. Wall Street Zen lowered monday.com from a “buy” rating to a “hold” rating in a research note on Saturday. TD Cowen reissued a “buy” rating and issued a $110.00 target price on shares of monday.com in a research note on Tuesday, August 11th. Cantor Fitzgerald lowered monday.com from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $112.00 to $90.00 in a research note on Monday, August 10th. Zacks Research cut monday.com from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 15th. Finally, Barclays cut monday.com from an “overweight” rating to an “equal weight” rating and set a $100.00 price objective for the company. in a report on Monday, October 12th. Thirteen analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $111.70.

monday.com Trading Down 4.0%

Shares of MNDY traded down $4.11 during midday trading on Tuesday, reaching $99.66. The stock had a trading volume of 330,931 shares, compared to its average volume of 1,774,536. The company’s 50-day moving average is $90.10 and its 200 day 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 capitalization of $5.10 billion, a price-to-earnings ratio of 42.46, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data 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. monday.com had a return on equity of 9.09% and a net margin of 8.87%. 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 prior year, the business earned $1.09 EPS. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. Research analysts forecast that monday.com will post 2.34 EPS for the current fiscal year.

Insider Activity

In other news, Director Aviad Eyal sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $100.04, for a total value of $200,080.00. Following the completion of the transaction, the director owned 203,455 shares of the company’s stock, valued at approximately $20,353,638.20. This represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 22.30% of the company’s stock.

Institutional Trading of monday.com

Several hedge funds and other institutional investors have recently made changes to their positions in MNDY. Renaissance Technologies LLC grew its stake 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 worth $150,797,000 after buying an additional 1,052,900 shares during the last quarter. RPD Fund Management LLC purchased a new stake in monday.com during the 1st quarter valued at $17,529,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in monday.com during the 2nd quarter valued at $5,098,000. Counterpoint Mutual Funds LLC boosted its stake in monday.com by 2,038.1% during 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 during the last quarter. Finally, Bank of America Corp DE boosted its stake in monday.com by 33.6% during 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 during the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

About monday.com

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.