Wolfe Research Initiates Coverage on monday.com (NASDAQ:MNDY)

Wolfe Research assumed coverage on shares of monday.com (NASDAQ:MNDY – Free Report) in a report issued on Tuesday morning, MarketBeat reports. The firm issued an outperform rating and a $300.00 price target on the stock.

MNDY has been the topic of a number of other reports. The Goldman Sachs Group upped their price target on monday.com from $270.00 to $300.00 and gave the company a buy rating in a research report on Thursday, May 16th. William Blair restated an outperform rating on shares of monday.com in a report on Monday, June 24th. JPMorgan Chase & Co. increased their target price on monday.com from $230.00 to $270.00 and gave the stock an overweight rating in a report on Monday, March 25th. Citigroup cut monday.com from a buy rating to a neutral rating and decreased their target price for the stock from $277.00 to $250.00 in a report on Wednesday, April 10th. Finally, DA Davidson increased their target price on monday.com from $190.00 to $230.00 and gave the stock a neutral rating in a report on Thursday, May 16th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $255.83.

Get Our Latest Stock Analysis on MNDY

monday.com Price Performance

Shares of MNDY traded down $5.42 on Tuesday, reaching $238.82. 224,474 shares of the stock traded hands, compared to its average volume of 831,486. The firm has a market cap of $11.53 billion, a price-to-earnings ratio of 630.57, a P/E/G ratio of 49.79 and a beta of 1.30. monday.com has a 12 month low of $122.13 and a 12 month high of $251.48. The stock’s 50-day moving average price is $221.28 and its 200-day moving average price is $212.17.

monday.com (NASDAQ:MNDY – Get Free Report) last released its quarterly earnings data on Wednesday, May 15th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.25. The business had revenue of $216.91 million for the quarter, compared to analysts’ expectations of $210.33 million. monday.com had a return on equity of 2.42% and a net margin of 2.53%. As a group, equities research analysts forecast that monday.com will post 0.12 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of MNDY. Raymond James & Associates grew its stake in monday.com by 55.2% in the fourth quarter. Raymond James & Associates now owns 12,525 shares of the company’s stock valued at $2,352,000 after purchasing an additional 4,457 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in monday.com during the 4th quarter worth approximately $25,925,000. M&G Investment Management Ltd. lifted its holdings in monday.com by 8.5% during the 4th quarter. M&G Investment Management Ltd. now owns 48,347 shares of the company’s stock worth $9,089,000 after purchasing an additional 3,796 shares during the last quarter. Norden Group LLC acquired a new position in monday.com in the 1st quarter valued at $840,000. Finally, Boulder Hill Capital Management LP acquired a new position in monday.com in the 4th quarter valued at $2,197,000. 73.70% of the stock is currently owned by institutional investors.

monday.com Company Profile

(Get Free Report)

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.

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