Cantor Fitzgerald Upgrades monday.com (NASDAQ:MNDY) to Strong-Buy

monday.com (NASDAQ:MNDY - Get Free Report) was upgraded by equities researchers at Cantor Fitzgerald to a "strong-buy" rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm currently has a $292.00 price objective on the stock. Cantor Fitzgerald's target price indicates a potential upside of 20.64% from the stock's current price.

Several other brokerages have also commented on MNDY. Oppenheimer upped their price objective on shares of monday.com from $275.00 to $325.00 and gave the stock an "outperform" rating in a report on Tuesday, October 22nd. Citigroup upgraded shares of monday.com from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $302.00 to $298.00 in a report on Thursday. KeyCorp cut monday.com from an "overweight" rating to a "sector weight" rating in a research report on Friday, December 13th. DA Davidson reissued a "neutral" rating and issued a $300.00 target price on shares of monday.com in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company lifted their price target on monday.com from $315.00 to $330.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, monday.com currently has a consensus rating of "Moderate Buy" and an average target price of $310.48.

monday.com Stock Up 0.6 %

Shares of NASDAQ:MNDY traded up $1.44 during midday trading on Thursday, hitting $242.05. 752,300 shares of the stock traded hands, compared to its average volume of 903,103. The stock has a market capitalization of $11.69 billion, a PE ratio of 590.37, a P/E/G ratio of 5.41 and a beta of 1.30. monday.com has a one year low of $174.75 and a one year high of $324.99. The business's 50 day moving average is $256.02 and its two-hundred day moving average is $259.37.

monday.com (NASDAQ:MNDY - Get Free Report) last released 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. The business had revenue of $251.00 million during the quarter, compared to analysts' expectations of $246.17 million. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The business's revenue was up 49.5% on a year-over-year basis. During the same quarter last year, the business posted $0.15 EPS. As a group, sell-side analysts forecast that monday.com will post 0.85 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

Institutional investors have recently modified their holdings of the business. China Universal Asset Management Co. Ltd. purchased a new stake in monday.com during the 3rd quarter valued at $1,667,000. International Assets Investment Management LLC bought a new position in monday.com in the third quarter valued at about $21,989,000. Taylor Frigon Capital Management LLC purchased a new position in monday.com in the third quarter worth about $1,311,000. Jennison Associates LLC grew its stake in shares of 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 purchasing an additional 318,837 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of monday.com by 6.4% during 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 purchasing an additional 2,196 shares during the period. 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.