monday.com (NASDAQ:MNDY) Now Covered by Scotiabank

Scotiabank assumed coverage on shares of monday.com (NASDAQ:MNDY - Free Report) in a research report released on Tuesday morning, Marketbeat reports. The brokerage issued a sector outperform rating and a $325.00 target price on the stock.

Several other research firms also recently commented on MNDY. Piper Sandler boosted their target price on shares of monday.com from $340.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, November 11th. Robert W. Baird boosted 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, November 12th. TD Cowen increased their price objective on shares of monday.com from $300.00 to $320.00 and gave the company a "buy" rating in a research note on Thursday, September 26th. Citigroup increased their price objective on shares of monday.com from $296.00 to $327.00 and gave the company a "neutral" rating in a research note on Wednesday, September 25th. Finally, Bank of America increased their price objective on shares of monday.com from $280.00 to $300.00 and gave the company a "buy" rating in a research note on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $310.81.

monday.com Stock Performance

Shares of MNDY stock traded up $1.56 during mid-day trading on Tuesday, hitting $257.02. The company's stock had a trading volume of 668,806 shares, compared to its average volume of 725,332. The company's fifty day simple moving average is $280.74 and its 200-day simple moving average is $249.45. monday.com has a 52 week low of $168.28 and a 52 week high of $324.99. The company has a market cap of $12.41 billion, a PE ratio of 623.07, a P/E/G ratio of 12.26 and a beta of 1.31.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The firm had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. During the same period last year, the company posted $0.15 EPS. The business's quarterly revenue was up 49.5% on a year-over-year basis. On average, equities analysts anticipate that monday.com will post 0.5 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNDY. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of monday.com in the third quarter worth $43,000. Ridgewood Investments LLC purchased a new stake in shares of monday.com in the second quarter worth $45,000. Gilliland Jeter Wealth Management LLC grew its stake in shares of monday.com by 72.9% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company's stock worth $58,000 after acquiring an additional 102 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of monday.com in the second quarter worth $69,000. Finally, Industrial Alliance Investment Management Inc. boosted its position in shares of monday.com by 741.7% during the first quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company's stock valued at $91,000 after buying an additional 356 shares during the last quarter. 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.