Piper Sandler Issues Positive Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its price objective raised by stock analysts at Piper Sandler from $305.00 to $325.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Piper Sandler’s target price indicates a potential upside of 16.42% from the stock’s previous close.

Other analysts also recently issued research reports about the company. KeyCorp raised monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 price objective on the stock in a research note on Tuesday, February 11th. Tigress Financial boosted their price target on shares of monday.com from $340.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Cantor Fitzgerald upped their price target on shares of monday.com from $292.00 to $380.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Citigroup upgraded shares of monday.com from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $302.00 to $298.00 in a research report on Thursday, January 16th. Finally, Barclays boosted their target price on shares of monday.com from $325.00 to $360.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $343.77.

monday.com Stock Performance

MNDY stock opened at $279.17 on Monday. The stock’s fifty day moving average is $255.67 and its two-hundred day moving average is $265.12. The stock has a market capitalization of $14.17 billion, a price-to-earnings ratio of 465.28, a PEG ratio of 16.53 and a beta of 1.32. monday.com has a 1 year low of $180.66 and a 1 year high of $342.64.

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

Institutional Investors Weigh In On monday.com

Hedge funds and other institutional investors have recently made changes to their positions in the company. ASR Vermogensbeheer N.V. bought a new stake in monday.com in the first quarter worth $25,000. Stonebridge Financial Group LLC bought a new position in monday.com in the fourth quarter worth $25,000. Arcadia Investment Management Corp MI bought a new position in monday.com during the fourth quarter worth about $28,000. Grove Bank & Trust bought a new stake in monday.com in the first quarter valued at $30,000. Finally, R Squared Ltd acquired a new stake in shares of monday.com during the 4th quarter worth about $33,000. 73.70% of the stock is owned by hedge funds and other institutional investors.

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.