monday.com’s (MNDY) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of monday.com (NASDAQ:MNDY) in a research note published on Tuesday morning,Benzinga reports. Needham & Company LLC currently has a $400.00 target price on the stock.

Other research analysts have also recently issued reports about the company. DA Davidson cut their price objective on monday.com from $350.00 to $290.00 and set a “buy” rating for the company in a report on Monday, April 14th. Tigress Financial boosted their price objective on monday.com from $340.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. reduced their price target on monday.com from $400.00 to $350.00 and set an “overweight” rating for the company in a research report on Tuesday, May 6th. Piper Sandler decreased their target price on shares of monday.com from $385.00 to $305.00 and set an “overweight” rating for the company in a research note on Wednesday, April 23rd. Finally, Robert W. Baird increased their price target on monday.com from $275.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, monday.com presently has a consensus rating of “Moderate Buy” and an average target price of $346.50.

monday.com Stock Up 0.0%

Shares of MNDY stock opened at $292.97 on Tuesday. The business’s 50 day moving average is $258.41 and its two-hundred day moving average is $265.46. The company has a market cap of $14.87 billion, a PE ratio of 488.28, a price-to-earnings-growth ratio of 16.53 and a beta of 1.32. monday.com has a 12 month low of $188.01 and a 12 month high of $342.64.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.40. monday.com had a net margin of 3.33% and a return on equity of 6.22%. The business had revenue of $282.25 million for the quarter, compared to the consensus estimate of $275.93 million. During the same quarter last year, the company posted $0.61 earnings per share. monday.com’s quarterly revenue was up 30.2% on a year-over-year basis. As a group, equities analysts expect that monday.com will post 0.46 EPS for the current fiscal year.

Institutional Trading of monday.com

Several large investors have recently modified their holdings of the stock. Stonebridge Financial Group LLC acquired a new stake in monday.com in the fourth quarter valued at about $25,000. ASR Vermogensbeheer N.V. acquired a new stake in shares of monday.com during the first quarter valued at about $25,000. Summit Securities Group LLC bought a new position in shares of monday.com during the first quarter worth about $25,000. Arcadia Investment Management Corp MI bought a new position in shares of monday.com during the fourth quarter worth about $28,000. Finally, Grove Bank & Trust bought a new position in shares of monday.com during the first quarter worth about $30,000. 73.70% of the stock is owned by institutional investors and hedge funds.

monday.com Company Profile

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.