Scotiabank Forecasts Strong Price Appreciation for monday.com (NASDAQ:MNDY) Stock

monday.com (NASDAQ:MNDY - Free Report) had its price target lifted by Scotiabank from $300.00 to $400.00 in a research note released on Tuesday,Benzinga reports. They currently have a sector outperform rating on the stock.

Several other brokerages have also recently weighed in on MNDY. Jefferies Financial Group lifted their price target on monday.com from $300.00 to $400.00 and gave the company a "buy" rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on monday.com from $350.00 to $400.00 and gave the stock an "overweight" rating in a research report on Tuesday. KeyCorp upgraded monday.com from a "sector weight" rating to an "overweight" rating and set a $420.00 target price for the company in a research report on Tuesday. William Blair restated an "outperform" rating on shares of monday.com in a research report on Wednesday, December 18th. Finally, Loop Capital reduced their target price on monday.com from $310.00 to $300.00 and set a "buy" rating for the company in a research report on Monday, December 23rd. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $353.32.

monday.com Trading Down 0.6 %

Shares of NASDAQ MNDY traded down $1.86 during mid-day trading on Tuesday, hitting $318.48. The company had a trading volume of 371,407 shares, compared to its average volume of 1,175,707. The company has a market capitalization of $15.38 billion, a price-to-earnings ratio of 775.71, a P/E/G ratio of 7.67 and a beta of 1.31. monday.com has a 1 year low of $174.75 and a 1 year high of $342.64. The stock's 50-day moving average price is $252.51 and its 200-day moving average price is $263.46.

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

Institutional Investors Weigh In On monday.com

Hedge funds and other institutional investors have recently modified their holdings of the stock. China Universal Asset Management Co. Ltd. bought a new stake in shares of monday.com in the 3rd quarter valued at about $1,667,000. International Assets Investment Management LLC bought a new stake in shares of monday.com in the 3rd quarter valued at about $21,989,000. Taylor Frigon Capital Management LLC bought a new stake in shares of monday.com in the 3rd quarter valued at about $1,311,000. Jennison Associates LLC lifted its stake 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 valued at $202,905,000 after acquiring an additional 318,837 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of monday.com by 6.4% in the 3rd 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 own 73.70% of the company's stock.

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.