monday.com (NASDAQ:MNDY) Announces Earnings Results, Beats Expectations By $0.13 EPS

monday.com (NASDAQ:MNDY) posted its earnings results on Monday. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13, FiscalAI reports. monday.com had a return on equity of 5.99% and a net margin of 5.58%.The company had revenue of $333.88 million for the quarter, compared to the consensus estimate of $329.71 million.

monday.com Price Performance

Shares of MNDY opened at $98.00 on Monday. The firm has a market cap of $4.98 billion, a P/E ratio of 79.67, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26. monday.com has a 1 year low of $92.73 and a 1 year high of $342.64. The company has a 50 day simple moving average of $138.72 and a two-hundred day simple moving average of $174.19.

Hedge Funds Weigh In On monday.com

Several institutional investors have recently added to or reduced their stakes in MNDY. NewEdge Advisors LLC grew its holdings in shares of monday.com by 2,120.0% in the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after purchasing an additional 106 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of monday.com during the 3rd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC lifted its position in monday.com by 76.5% in the second quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock worth $47,000 after buying an additional 65 shares during the last quarter. Lido Advisors LLC purchased a new position in monday.com during the third quarter worth $265,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of monday.com by 12.7% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,470 shares of the company’s stock worth $285,000 after acquiring an additional 166 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on MNDY shares. KeyCorp reduced their target price on shares of monday.com from $270.00 to $220.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. Zacks Research upgraded monday.com from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Jefferies Financial Group lowered their target price on monday.com from $300.00 to $260.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. DA Davidson reduced their price target on monday.com from $250.00 to $150.00 and set a “buy” rating for the company in a research report on Friday. Finally, Robert W. Baird set a $175.00 price objective on monday.com in a research note on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $229.87.

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.