Wall Street Zen Upgrades monday.com (NASDAQ:MNDY) to “Buy”

monday.com (NASDAQ:MNDY) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

Other research analysts have also issued research reports about the company. Zacks Research lowered monday.com from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 15th. Piper Sandler reissued a “neutral” rating and set a $90.00 price objective on shares of monday.com in a research note on Thursday, October 29th. Barclays downgraded monday.com from an “overweight” rating to an “equal weight” rating and set a $100.00 price objective on the stock. in a research report on Monday, October 12th. UBS Group restated a “buy” rating on shares of monday.com in a research report on Tuesday, October 27th. Finally, Cantor Fitzgerald lowered monday.com from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $112.00 to $90.00 in a research note on Monday, August 10th. 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 a consensus rating of “Moderate Buy” and an average target price of $111.70.

monday.com Stock Down 0.4%

MNDY stock opened at $95.26 on Friday. monday.com has a 52 week low of $57.50 and a 52 week high of $210.49. The company has a fifty day simple moving average of $90.87 and a two-hundred day simple moving average of $83.77. The firm has a market capitalization of $4.87 billion, a P/E ratio of 40.54, a price-to-earnings-growth ratio of 2.21 and a beta of 1.14.

monday.com (NASDAQ:MNDY) last issued 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. The business had revenue of $364.62 million during the quarter, compared to analysts’ expectations of $355.55 million. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The business’s revenue was up 21.9% on a year-over-year basis. During the same period last year, the company posted $1.09 EPS. As a group, analysts anticipate that monday.com will post 2.34 EPS for the current year.

Insider Activity

In other news, Director Aviad Eyal sold 2,000 shares of the firm’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 in the company, valued at approximately $20,353,638.20. This trade represents a 0.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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

Several hedge funds have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC grew its position in monday.com by 498.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock valued at $29,000 after acquiring an additional 354 shares during the last quarter. Oppenheimer & Co. Inc. purchased a new stake in monday.com in the third quarter worth $201,000. Quadrant Capital Group LLC purchased a new stake in monday.com in the third quarter worth $235,000. Evanson Financial LLC purchased a new stake in monday.com in the second quarter worth $219,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of monday.com during the third quarter worth $240,000. 73.70% of the stock is currently owned by institutional investors.

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.