monday.com (NASDAQ:MNDY) Given Buy Rating at Needham & Company LLC

monday.com (NASDAQ:MNDY)‘s stock had its “buy” rating reiterated by equities researchers at Needham & Company LLC in a research report issued on Tuesday, MarketBeat Ratings reports. They currently have a $125.00 target price on the stock. Needham & Company LLC‘s target price suggests a potential upside of 20.46% from the company’s previous close.

A number of other equities research analysts have also issued reports on MNDY. UBS Group increased their price target on monday.com from $85.00 to $95.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 11th. Piper Sandler restated a “neutral” rating and issued a $90.00 price objective on shares of monday.com in a research report on Monday, August 10th. JPMorgan Chase & Co. downgraded monday.com from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $90.00 to $87.00 in a research report on Tuesday, September 29th. Wolfe Research lowered monday.com from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 11th. Finally, BTIG Research reissued a “buy” rating and issued a $105.00 price target on shares of monday.com in a report on Monday, August 10th. Thirteen research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $111.70.

monday.com Price Performance

Shares of NASDAQ MNDY opened at $103.77 on Tuesday. The firm has a fifty day moving average price of $90.10 and a 200-day moving average price of $85.01. The stock has a market cap of $5.31 billion, a PE ratio of 44.16, a price-to-earnings-growth ratio of 2.40 and a beta of 1.14. monday.com has a 1 year low of $57.50 and a 1 year high of $210.49.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, August 10th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.11 by $0.37. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The firm had revenue of $364.62 million for the quarter, compared to the consensus estimate of $355.55 million. During the same period last year, the firm earned $1.09 EPS. The company’s revenue was up 21.9% on a year-over-year basis. On average, research analysts expect that monday.com will post 2.34 EPS for the current year.

Insider Buying and Selling

In other monday.com news, Director Aviad Eyal sold 2,000 shares of the business’s stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $100.04, for a total value of $200,080.00. Following the sale, the director owned 203,455 shares in the company, valued at $20,353,638.20. The trade was a 0.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On monday.com

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC increased its holdings in shares of monday.com by 93.3% in the first quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock worth $150,797,000 after purchasing an additional 1,052,900 shares during the last quarter. RPD Fund Management LLC bought a new position in monday.com during the first quarter valued at approximately $17,529,000. Bank of America Corp DE boosted its stake in monday.com by 33.6% during the first quarter. Bank of America Corp DE now owns 194,635 shares of the company’s stock valued at $13,451,000 after buying an additional 49,002 shares during the last quarter. Swiss National Bank grew its holdings in monday.com by 28.6% during the 1st quarter. Swiss National Bank now owns 159,100 shares of the company’s stock valued at $10,995,000 after buying an additional 35,400 shares in the last quarter. Finally, Ardmore Road Asset Management LP grew its holdings in monday.com by 18.1% during the 1st quarter. Ardmore Road Asset Management LP now owns 118,700 shares of the company’s stock valued at $8,203,000 after buying an additional 18,234 shares in the last quarter. 73.70% of the stock is owned by institutional investors.

About monday.com

monday.com Ltd. is a software company that provides a cloud-based Work Operating System (Work OS) designed to help organizations manage projects, workflows and business operations. Its platform uses configurable boards, dashboards, automations, integrations and collaboration tools, enabling teams to organize work and build workflows without extensive software development.

The company offers products tailored to several business functions, including monday work management for project and task coordination, monday CRM for sales and customer relationship processes, monday dev for software development teams, and monday service for managing customer support and service operations.