monday.com (NASDAQ:MNDY) Earns Equal Weight Rating from Analysts at Morgan Stanley

Stock analysts at Morgan Stanley started coverage on shares of monday.com (NASDAQ:MNDY) in a report issued on Tuesday, MarketBeat.com reports. The firm set an “equal weight” rating and a $330.00 price target on the stock. Morgan Stanley’s target price would indicate a potential upside of 14.81% from the company’s current price.

Several other research analysts have also commented on MNDY. JPMorgan Chase & Co. dropped their price target on monday.com from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Wall Street Zen upgraded monday.com from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Scotiabank lifted their target price on monday.com from $315.00 to $330.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 2nd. Piper Sandler boosted their target price on shares of monday.com from $305.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, May 12th. Finally, Wells Fargo & Company set a $365.00 price target on shares of monday.com and gave the stock an “overweight” rating in a research note on Friday, June 13th. Four analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $347.09.

monday.com Trading Down 0.7%

NASDAQ:MNDY opened at $287.43 on Tuesday. The business’s 50-day moving average is $280.55 and its 200 day moving average is $267.20. monday.com has a 12 month low of $188.01 and a 12 month high of $342.64. The company has a market capitalization of $14.59 billion, a P/E ratio of 293.30, a P/E/G ratio of 102.54 and a beta of 1.30.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.40. monday.com had a net margin of 5.08% and a return on equity of 7.87%. The firm had revenue of $282.25 million during the quarter, compared to analyst estimates of $275.93 million. During the same period last year, the firm posted $0.61 earnings per share. monday.com’s revenue for the quarter was up 30.2% compared to the same quarter last year. On average, research analysts forecast that monday.com will post 0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. ASR Vermogensbeheer N.V. acquired a new stake in shares of monday.com during the first quarter worth about $25,000. Summit Securities Group LLC acquired a new stake in shares of monday.com in the first quarter worth $25,000. NewEdge Advisors LLC raised its holdings in shares of monday.com by 2,120.0% during the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares during the last quarter. Arcadia Investment Management Corp MI acquired a new position in monday.com during the fourth quarter valued at $28,000. Finally, Grove Bank & Trust purchased a new stake in monday.com in the first quarter valued at $30,000. Institutional investors and hedge funds 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.