monday.com (NASDAQ:MNDY) Hits New 1-Year High Following Analyst Upgrade

monday.com Ltd. (NASDAQ:MNDY - Get Free Report)'s share price reached a new 52-week high on Monday after The Goldman Sachs Group raised their price target on the stock from $350.00 to $400.00. The Goldman Sachs Group currently has a buy rating on the stock. monday.com traded as high as $334.30 and last traded at $332.76, with a volume of 1742926 shares changing hands. The stock had previously closed at $258.24.

A number of other equities research analysts have also recently weighed in on MNDY. William Blair reaffirmed an "outperform" rating on shares of monday.com in a research note on Wednesday, December 18th. Oppenheimer lifted their target price on monday.com from $275.00 to $325.00 and gave the company an "outperform" rating in a research report on Tuesday, October 22nd. Barclays increased their price target on shares of monday.com from $325.00 to $360.00 and gave the stock an "overweight" rating in a research report on Tuesday. Wells Fargo & Company lifted their price objective on shares of monday.com from $340.00 to $380.00 and gave the company an "overweight" rating in a report on Tuesday. Finally, Robert W. Baird increased their target price on shares of monday.com from $275.00 to $335.00 and gave the stock a "neutral" rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $353.32.

Institutional Investors Weigh In On monday.com

Hedge funds and other institutional investors have recently made changes to their positions in the business. China Universal Asset Management Co. Ltd. purchased a new position in monday.com in the third quarter valued at approximately $1,667,000. International Assets Investment Management LLC acquired a new position in shares of monday.com in the 3rd quarter valued at $21,989,000. Taylor Frigon Capital Management LLC purchased a new position in shares of monday.com in the 3rd quarter valued at $1,311,000. Jennison Associates LLC raised its stake in monday.com by 77.5% during 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. Finally, Robeco Institutional Asset Management B.V. lifted its position in monday.com by 6.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 36,572 shares of the company's stock valued at $10,159,000 after acquiring an additional 2,196 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company's stock.

monday.com Price Performance

The firm's 50 day simple moving average is $251.81 and its 200-day simple moving average is $263.06. The company has a market cap of $15.46 billion, a price-to-earnings ratio of 780.90, a P/E/G ratio of 7.67 and a beta of 1.31.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its earnings results on Monday, February 10th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.78 by ($0.28). monday.com had a net margin of 2.39% and a return on equity of 4.99%. On average, analysts forecast that monday.com Ltd. will post 0.85 EPS for the current year.

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.