monday.com’s (MNDY) “Buy” Rating Reaffirmed at BTIG Research

monday.com (NASDAQ:MNDY)‘s stock had its “buy” rating reissued by equities researchers at BTIG Research in a note issued to investors on Thursday,Benzinga reports. They presently have a $210.00 price target on the stock. BTIG Research’s target price suggests a potential upside of 61.13% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. JPMorgan Chase & Co. dropped their target price on shares of monday.com from $285.00 to $230.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Robert W. Baird lowered their target price on monday.com from $240.00 to $210.00 and set an “outperform” rating for the company in a report on Tuesday, November 11th. Zacks Research upgraded shares of monday.com from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. DA Davidson decreased their price target on shares of monday.com from $275.00 to $250.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Finally, UBS Group set a $202.00 price target on shares of monday.com in a research note on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, monday.com has an average rating of “Moderate Buy” and a consensus target price of $257.39.

monday.com Trading Down 6.4%

Shares of NASDAQ:MNDY opened at $130.33 on Thursday. The company has a market capitalization of $6.62 billion, a price-to-earnings ratio of 105.96, a PEG ratio of 3.20 and a beta of 1.26. monday.com has a 12-month low of $129.99 and a 12-month high of $342.64. The business has a 50-day moving average price of $151.38 and a 200 day moving average price of $196.15.

monday.com (NASDAQ:MNDY) last announced its earnings results on Monday, November 10th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.27. The company had revenue of $316.86 million during the quarter, compared to analyst estimates of $312.26 million. monday.com had a net margin of 5.58% and a return on equity of 5.99%. monday.com’s revenue was up 26.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.85 earnings per share. As a group, equities research analysts predict that monday.com will post 0.46 earnings per share for the current fiscal year.

Institutional Trading of monday.com

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NewEdge Advisors LLC grew its position in shares of monday.com by 2,120.0% in the 1st quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after buying an additional 106 shares during the last quarter. Promus Capital LLC acquired a new stake in shares of monday.com in the 2nd quarter valued at about $45,000. Advisory Services Network LLC purchased a new position in monday.com during the 3rd quarter worth approximately $28,000. EverSource Wealth Advisors LLC grew its stake in monday.com by 76.5% during the 2nd 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. Finally, Hazlett Burt & Watson Inc. increased its position in monday.com by 60.0% during the second quarter. Hazlett Burt & Watson Inc. now owns 160 shares of the company’s stock worth $50,000 after buying an additional 60 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.

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.