monday.com (NASDAQ:MNDY) Raised to "Buy" at Citigroup

Citigroup upgraded shares of monday.com (NASDAQ:MNDY - Free Report) from a neutral rating to a buy rating in a report published on Thursday morning, Marketbeat.com reports. They currently have $298.00 price objective on the stock, down from their prior price objective of $302.00.

A number of other brokerages also recently issued reports on MNDY. Robert W. Baird boosted their price target on monday.com from $265.00 to $270.00 and gave the company a "neutral" rating in a report on Tuesday, November 12th. KeyCorp lowered monday.com from an "overweight" rating to a "sector weight" rating in a research report on Friday, December 13th. Scotiabank initiated coverage on monday.com in a report on Tuesday, November 19th. They set a "sector outperform" rating and a $325.00 target price for the company. Wells Fargo & Company lifted their price target on shares of monday.com from $315.00 to $330.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Finally, Capital One Financial started coverage on shares of monday.com in a research report on Thursday, October 10th. They set an "overweight" rating and a $325.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $311.40.

monday.com Trading Up 2.8 %

Shares of NASDAQ:MNDY traded up $6.46 during trading on Thursday, reaching $240.61. 1,295,978 shares of the company traded hands, compared to its average volume of 1,028,458. monday.com has a 52-week low of $174.75 and a 52-week high of $324.99. The firm has a market capitalization of $11.62 billion, a price-to-earnings ratio of 586.85, a P/E/G ratio of 5.41 and a beta of 1.30. The business's fifty day moving average is $259.22 and its 200-day moving average is $259.49.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The business had revenue of $251.00 million during the quarter, compared to analysts' expectations of $246.17 million. During the same quarter in the prior year, the company posted $0.15 EPS. The firm's revenue for the quarter was up 49.5% compared to the same quarter last year. On average, sell-side analysts predict that monday.com will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On monday.com

Hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of monday.com in the 3rd quarter worth about $43,000. Toronto Dominion Bank purchased a new position in monday.com in the second quarter worth about $120,000. Vestcor Inc raised its holdings in monday.com by 31.4% in the third quarter. Vestcor Inc now owns 519 shares of the company's stock worth $144,000 after buying an additional 124 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of monday.com by 645.7% in the third quarter. Larson Financial Group LLC now owns 604 shares of the company's stock worth $168,000 after buying an additional 523 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. grew its holdings in shares of monday.com by 18.2% during the third quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company's stock valued at $181,000 after buying an additional 100 shares during the last quarter. 73.70% of the stock is owned by 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.