monday.com Ltd. (NASDAQ:MNDY) Given Average Rating of “Moderate Buy” by Brokerages

monday.com Ltd. (NASDAQ:MNDY) has received an average rating of “Moderate Buy” from the twenty-six ratings firms that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, five have given a hold recommendation, nineteen have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $155.3750.

Several equities analysts recently issued reports on the company. Wolfe Research reissued an “outperform” rating and set a $95.00 target price on shares of monday.com in a research note on Monday, February 9th. Loop Capital set a $80.00 price target on shares of monday.com in a research report on Tuesday, February 10th. Zacks Research upgraded shares of monday.com from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. JPMorgan Chase & Co. reduced their target price on shares of monday.com from $285.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Finally, Tigress Financial increased their price objective on monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th.

monday.com Stock Performance

NASDAQ:MNDY opened at $72.64 on Monday. monday.com has a fifty-two week low of $68.68 and a fifty-two week high of $316.98. The company has a 50 day moving average price of $114.93 and a 200 day moving average price of $155.87. The stock has a market capitalization of $3.69 billion, a P/E ratio of 32.28, a PEG ratio of 1.34 and a beta of 1.32.

monday.com (NASDAQ:MNDY) last announced its earnings results on Monday, February 9th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. monday.com had a return on equity of 4.80% and a net margin of 9.64%.The company had revenue of $333.88 million for the quarter, compared to analyst estimates of $329.71 million. During the same quarter in the previous year, the company earned $1.08 earnings per share. The firm’s quarterly revenue was up 24.6% compared to the same quarter last year. Research analysts forecast that monday.com will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its position 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 buying an additional 106 shares in the last quarter. CWM LLC raised its holdings in monday.com by 31.3% in the second quarter. CWM LLC now owns 210 shares of the company’s stock valued at $66,000 after acquiring an additional 50 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in monday.com in the second quarter worth approximately $391,000. New York Life Investment Management LLC acquired a new position in monday.com during the 2nd quarter worth approximately $248,000. Finally, Spire Wealth Management increased its position in shares of monday.com by 7.5% in the 2nd quarter. Spire Wealth Management now owns 615 shares of the company’s stock valued at $193,000 after purchasing an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

About monday.com

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.