Wells Fargo & Company Forecasts Strong Price Appreciation for monday.com (NASDAQ:MNDY) Stock

monday.com (NASDAQ:MNDY) had its price target lifted by Wells Fargo & Company from $310.00 to $335.00 in a report published on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other research firms have also recently commented on MNDY. Loop Capital cut their price objective on shares of monday.com from $385.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday. Tigress Financial boosted their price objective on shares of monday.com from $340.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Citigroup raised shares of monday.com from a “neutral” rating to a “buy” rating and cut their price objective for the company from $302.00 to $298.00 in a research report on Thursday, January 16th. Cantor Fitzgerald boosted their price objective on shares of monday.com from $292.00 to $380.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Finally, The Goldman Sachs Group boosted their price target on shares of monday.com from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $346.50.

monday.com Stock Up 4.1%

Shares of NASDAQ MNDY opened at $290.49 on Tuesday. The company’s fifty day moving average is $256.40 and its 200-day moving average is $265.30. The stock has a market cap of $14.75 billion, a price-to-earnings ratio of 484.15, a P/E/G ratio of 16.53 and a beta of 1.32. monday.com has a twelve month low of $181.00 and a twelve month high of $342.64.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.70 by $0.40. The company had revenue of $282.25 million for the quarter, compared to analysts’ expectations of $275.93 million. monday.com had a net margin of 3.33% and a return on equity of 6.22%. The business’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same period last year, the firm posted $0.61 earnings per share. On average, research analysts anticipate that monday.com will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On monday.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in MNDY. Stonebridge Financial Group LLC bought a new position in monday.com during the fourth quarter worth $25,000. ASR Vermogensbeheer N.V. bought a new position in monday.com during the first quarter worth $25,000. Summit Securities Group LLC bought a new position in monday.com during the first quarter worth $25,000. Arcadia Investment Management Corp MI bought a new position in monday.com during the fourth quarter worth $28,000. Finally, Grove Bank & Trust bought a new position in monday.com during the first quarter worth $30,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

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.