monday.com (NASDAQ:MNDY) Price Target Raised to $350.00

monday.com (NASDAQ:MNDY - Get Free Report) had its price target lifted by Piper Sandler from $340.00 to $350.00 in a research report issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the stock. Piper Sandler's target price would suggest a potential upside of 29.07% from the stock's current price.

Several other research firms also recently weighed in on MNDY. Capital One Financial assumed coverage on monday.com in a report on Thursday, October 10th. They issued an "overweight" rating and a $325.00 target price for the company. UBS Group boosted their target price on monday.com from $240.00 to $280.00 and gave the stock a "neutral" rating in a research report on Tuesday, August 13th. Loop Capital upped their target price on shares of monday.com from $285.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. Needham & Company LLC restated a "buy" rating and issued a $300.00 price target on shares of monday.com in a research report on Thursday, September 26th. Finally, DA Davidson upped their price target on shares of monday.com from $250.00 to $300.00 and gave the company a "neutral" rating in a report on Wednesday, September 25th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $306.60.

monday.com Stock Performance

MNDY stock traded down $53.14 during mid-day trading on Monday, reaching $271.17. The company had a trading volume of 2,781,222 shares, compared to its average volume of 704,274. The firm has a fifty day simple moving average of $278.88 and a 200 day simple moving average of $246.22. The company has a market capitalization of $13.09 billion, a price-to-earnings ratio of 341.00, a price-to-earnings-growth ratio of 15.22 and a beta of 1.31. monday.com has a fifty-two week low of $150.10 and a fifty-two week high of $324.99.

monday.com (NASDAQ:MNDY - Get Free Report) last released its quarterly earnings data on Monday, August 12th. The company reported $0.24 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.23. The business had revenue of $236.11 million for the quarter, compared to the consensus estimate of $227.96 million. monday.com had a return on equity of 4.74% and a net margin of 4.88%. As a group, analysts predict that monday.com will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of MNDY. Clearbridge Investments LLC raised its position in shares of monday.com by 2,851.5% in the 1st quarter. Clearbridge Investments LLC now owns 344,525 shares of the company's stock valued at $77,818,000 after purchasing an additional 332,852 shares in the last quarter. Jennison Associates LLC boosted 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 valued at $202,905,000 after acquiring an additional 318,837 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in monday.com by 431.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company's stock worth $107,176,000 after acquiring an additional 313,279 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of monday.com by 20.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company's stock worth $270,299,000 after purchasing an additional 188,800 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of monday.com by 171.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 273,877 shares of the company's stock valued at $65,938,000 after purchasing an additional 172,919 shares in the last quarter. 73.70% of the stock is owned by institutional investors and hedge funds.

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.

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