Canaccord Genuity Group Issues Positive Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY - Get Free Report) had its target price boosted by Canaccord Genuity Group from $295.00 to $310.00 in a research report issued on Tuesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Canaccord Genuity Group's target price suggests a potential upside of 18.96% from the company's previous close.

Other analysts have also issued research reports about the company. Needham & Company LLC increased their price objective on monday.com from $300.00 to $350.00 and gave the company a "buy" rating in a research note on Tuesday. Robert W. Baird raised their target price on shares of monday.com from $265.00 to $270.00 and gave the stock a "neutral" rating in a research report on Tuesday. UBS Group boosted their price target on monday.com from $240.00 to $280.00 and gave the company a "neutral" rating in a report on Tuesday, August 13th. Citigroup raised their price objective on monday.com from $296.00 to $327.00 and gave the stock a "neutral" rating in a report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. upped their target price on monday.com from $270.00 to $300.00 and gave the company an "overweight" rating in a research note on Tuesday, August 13th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat.com, monday.com has an average rating of "Moderate Buy" and a consensus price target of $310.10.

monday.com Price Performance

MNDY traded down $14.62 during trading on Tuesday, reaching $260.59. 2,117,804 shares of the stock were exchanged, compared to its average volume of 717,034. The company has a market capitalization of $12.58 billion, a price-to-earnings ratio of 339.61, a P/E/G ratio of 15.22 and a beta of 1.31. monday.com has a 1 year low of $150.10 and a 1 year high of $324.99. The business's 50 day moving average price is $279.07 and its two-hundred day moving average price is $246.86.

monday.com (NASDAQ:MNDY - Get Free Report) last released its quarterly earnings data on Monday, November 11th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.61 by $0.24. monday.com had a net margin of 4.88% and a return on equity of 4.74%. The business had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. During the same period in the previous year, the firm earned $0.15 EPS. The business's revenue for the quarter was up 49.5% compared to the same quarter last year. On average, analysts anticipate that monday.com will post 0.5 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MNDY. Price T Rowe Associates Inc. MD lifted its position in shares of monday.com by 1.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,164,566 shares of the company's stock worth $714,781,000 after purchasing an additional 31,304 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in monday.com by 20.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company's stock worth $270,299,000 after buying an additional 188,800 shares during the last quarter. Jennison Associates LLC grew its position in shares of monday.com by 77.5% in the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company's stock worth $202,905,000 after acquiring an additional 318,837 shares in the last quarter. 1832 Asset Management L.P. raised its position in shares of monday.com by 34.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company's stock valued at $160,707,000 after acquiring an additional 170,800 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its position in shares of monday.com by 2.4% during the 3rd quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company's stock valued at $166,767,000 after acquiring an additional 14,304 shares in the last quarter. Institutional investors and hedge funds own 73.70% of the company's stock.

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.