monday.com’s (MNDY) Buy Rating Reiterated at Guggenheim

Guggenheim restated their buy rating on shares of monday.com (NASDAQ:MNDY) in a report issued on Tuesday,Benzinga reports. They currently have a $130.00 target price on the stock.

A number of other research firms also recently commented on MNDY. Morgan Stanley set a $105.00 price objective on monday.com in a report on Tuesday. Wolfe Research downgraded monday.com from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 11th. TD Cowen cut monday.com from a “buy” rating to a “hold” rating and decreased their target price for the stock from $110.00 to $105.00 in a research report on Tuesday. Cantor Fitzgerald lowered shares of monday.com from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $112.00 to $90.00 in a research report on Monday, August 10th. Finally, Citigroup reduced their price objective on shares of monday.com from $154.00 to $132.00 and set a “buy” rating for the company in a research note on Tuesday, August 11th. Twelve investment analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, monday.com presently has a consensus rating of “Hold” and an average price target of $107.35.

monday.com Stock Performance

NASDAQ MNDY opened at $93.84 on Tuesday. The stock has a market capitalization of $4.80 billion, a P/E ratio of 39.93, a P/E/G ratio of 2.18 and a beta of 1.06. monday.com has a 1 year low of $57.50 and a 1 year high of $190.72. The business’s fifty day moving average is $90.95 and its two-hundred day moving average is $83.24.

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

Insider Buying and Selling at monday.com

In other news, Director Aviad Eyal sold 2,000 shares of the firm’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 approximately $20,353,638.20. This trade represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 22.30% of the company’s stock.

Hedge Funds Weigh In On monday.com

Several large investors have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC lifted its stake in monday.com by 498.6% during the first quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock worth $29,000 after purchasing an additional 354 shares during the period. First Command Advisory Services Inc. bought a new stake in shares of monday.com in the 3rd quarter valued at approximately $200,000. Oppenheimer & Co. Inc. bought a new stake in shares of monday.com in the 3rd quarter valued at approximately $201,000. Quadrant Capital Group LLC bought a new stake in shares of monday.com in the 3rd quarter valued at approximately $235,000. Finally, Evanson Financial LLC acquired a new position in shares of monday.com in the 2nd quarter worth approximately $219,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

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.