monday.com (NASDAQ:MNDY) Stock Rating Reaffirmed as Buy by Needham & Company LLC

monday.com (NASDAQ:MNDY)‘s stock had its “buy” rating restated by Needham & Company LLC in a research note issued on Tuesday, MarketBeat.com reports. They presently have a $125.00 price target on the stock. Needham & Company LLC‘s price objective would indicate a potential upside of 20.46% from the stock’s previous close.

A number of other research firms have also recently commented on MNDY. Cantor Fitzgerald cut shares of monday.com from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $112.00 to $90.00 in a research report on Monday, August 10th. Jefferies Financial Group reaffirmed a “hold” rating and set a $95.00 price objective on shares of monday.com in a research report on Monday, August 10th. Weiss Ratings raised shares of monday.com from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 15th. TD Cowen reaffirmed a “buy” rating and set a $110.00 price objective on shares of monday.com in a research report on Tuesday, August 11th. Finally, Zacks Research cut shares of monday.com from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 15th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $111.70.

monday.com Trading Down 2.6%

NASDAQ:MNDY opened at $103.77 on Tuesday. monday.com has a 1-year low of $57.50 and a 1-year high of $210.49. The firm has a fifty day simple moving average of $90.10 and a 200 day simple moving average of $85.01. The stock has a market capitalization of $5.31 billion, a PE ratio of 44.16, a P/E/G ratio of 2.40 and a beta of 1.14.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, August 10th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $355.55 million. During the same period in the previous year, the business posted $1.09 earnings per share. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. On average, equities analysts predict that monday.com will post 2.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Aviad Eyal sold 2,000 shares of the company’s stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $100.04, for a total transaction of $200,080.00. Following the completion of the sale, the director owned 203,455 shares of the company’s stock, valued at $20,353,638.20. This represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, 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 owned by corporate insiders.

Institutional Investors Weigh In On monday.com

Several institutional investors and hedge funds have recently bought and sold shares of MNDY. Fulton Bank N.A. boosted its holdings in monday.com by 5.1% in the second quarter. Fulton Bank N.A. now owns 3,339 shares of the company’s stock worth $242,000 after acquiring an additional 162 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in monday.com by 498.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock worth $29,000 after buying an additional 354 shares in the last quarter. USS Investment Management Ltd increased its holdings in monday.com by 5.8% in the 1st quarter. USS Investment Management Ltd now owns 9,509 shares of the company’s stock worth $657,000 after buying an additional 524 shares in the last quarter. Signaturefd LLC increased its holdings in monday.com by 28.3% in the 3rd quarter. Signaturefd LLC now owns 4,469 shares of the company’s stock worth $351,000 after buying an additional 987 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in shares of monday.com by 7.1% during the 1st quarter. Pictet Asset Management Holding SA now owns 18,766 shares of the company’s stock valued at $1,297,000 after acquiring an additional 1,247 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

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.