monday.com (NASDAQ:MNDY) Upgraded to Buy at Wall Street Zen

Wall Street Zen upgraded shares of monday.com (NASDAQ:MNDY) from a hold rating to a buy rating in a research report sent to investors on Saturday,Wall Street Zen reports.

A number of other analysts also recently commented on the stock. TD Cowen restated a “buy” rating and set a $110.00 price target on shares of monday.com in a research report on Tuesday, August 11th. Tigress Financial decreased their price objective on shares of monday.com to $165.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Weiss Ratings reiterated a “sell (d+)” rating on shares of monday.com in a research note on Tuesday, September 8th. UBS Group boosted their target price on monday.com from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Finally, Cantor Fitzgerald downgraded monday.com from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $112.00 to $90.00 in a research report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.91.

monday.com Stock Performance

NASDAQ:MNDY opened at $85.13 on Friday. The stock has a market cap of $4.36 billion, a price-to-earnings ratio of 36.23, a PEG ratio of 1.99 and a beta of 1.15. monday.com has a 1 year low of $57.50 and a 1 year high of $220.80. The business has a fifty day moving average of $88.12 and a 200-day moving average of $78.96.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.37. The business had revenue of $364.62 million for 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 company’s revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 earnings per share. On average, equities research analysts predict that monday.com will post 2.25 EPS for the current year.

Institutional Trading of monday.com

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Sequoia Financial Advisors LLC boosted its holdings in monday.com by 60.2% during the second quarter. Sequoia Financial Advisors LLC now owns 6,312 shares of the company’s stock worth $457,000 after buying an additional 2,373 shares in the last quarter. Engineers Gate Manager LP increased its holdings in shares of monday.com by 29.5% in the second quarter. Engineers Gate Manager LP now owns 38,981 shares of the company’s stock valued at $2,822,000 after buying an additional 8,891 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of monday.com during the 2nd quarter valued at $5,098,000. Public Employees Retirement System of Ohio acquired a new stake in shares of monday.com during the 2nd quarter valued at $970,000. Finally, Plato Investment Management Ltd bought a new stake in shares of monday.com during the 2nd quarter worth $432,000. 73.70% of the stock is currently owned by institutional investors.

monday.com Company Profile

monday.com Ltd. is a software company that provides cloud-based work management and productivity solutions for organizations of various sizes. Its platform is designed to help teams plan projects, manage workflows, coordinate tasks, track progress and collaborate across departments.

The company’s product portfolio includes monday work management, monday CRM, monday dev and monday service. These products support functions such as project and portfolio management, customer relationship management, software development, IT service management and business process automation.