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

monday.com (NASDAQ:MNDY)‘s stock had its “buy” rating reissued by investment analysts at Needham & Company LLC in a report issued on Monday,Benzinga reports. They currently have a $250.00 price target on the stock. Needham & Company LLC’s target price indicates a potential upside of 42.26% from the stock’s current price.

Several other analysts have also recently issued reports on the company. Canaccord Genuity Group decreased their price objective on monday.com from $350.00 to $255.00 and set a “buy” rating on the stock in a report on Tuesday, August 12th. Wall Street Zen cut monday.com from a “buy” rating to a “hold” rating in a report on Saturday, July 5th. Morgan Stanley raised monday.com from an “equal weight” rating to an “overweight” rating and decreased their price objective for the stock from $330.00 to $260.00 in a report on Tuesday, August 12th. Jefferies Financial Group reiterated a “buy” rating and issued a $330.00 target price (down previously from $360.00) on shares of monday.com in a report on Monday, August 11th. Finally, UBS Group decreased their price target on monday.com from $310.00 to $215.00 and set a “neutral” rating on the stock in a report on Tuesday, August 12th. Two investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $305.18.

monday.com Trading Down 0.7%

NASDAQ MNDY opened at $175.74 on Monday. The stock’s 50 day moving average is $276.72 and its 200 day moving average is $274.76. monday.com has a 12 month low of $171.54 and a 12 month high of $342.64. The stock has a market cap of $8.92 billion, a PE ratio of 237.49, a P/E/G ratio of 5.91 and a beta of 1.27.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, August 11th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.25. The company had revenue of $299.01 million for the quarter, compared to analysts’ expectations of $293.60 million. monday.com had a return on equity of 6.32% and a net margin of 3.63%. The firm’s revenue was up 26.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 EPS. On average, analysts forecast that monday.com will post 0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On monday.com

A number of institutional investors have recently added to or reduced their stakes in the stock. WCM Investment Management LLC boosted its position in monday.com by 0.4% during the first quarter. WCM Investment Management LLC now owns 4,078,985 shares of the company’s stock valued at $1,007,550,000 after purchasing an additional 17,371 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in monday.com by 45.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,401,580 shares of the company’s stock valued at $583,969,000 after purchasing an additional 745,686 shares in the last quarter. JPMorgan Chase & Co. grew its stake in monday.com by 9.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,833,000 shares of the company’s stock worth $576,442,000 after buying an additional 150,987 shares during the last quarter. Rubicon Global Capital Ltd grew its stake in monday.com by 155.3% during the 2nd quarter. Rubicon Global Capital Ltd now owns 1,442,900 shares of the company’s stock worth $453,763,000 after buying an additional 877,700 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its stake in monday.com by 98.6% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 924,325 shares of the company’s stock worth $224,759,000 after buying an additional 458,794 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

About monday.com

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.