Citigroup Raises monday.com (NASDAQ:MNDY) Price Target to $327.00

monday.com (NASDAQ:MNDY - Free Report) had its price target boosted by Citigroup from $296.00 to $327.00 in a research note released on Wednesday morning, Benzinga reports. Citigroup currently has a neutral rating on the stock.

Several other analysts also recently weighed in on MNDY. TD Cowen lifted their price objective on shares of monday.com from $275.00 to $300.00 and gave the company a buy rating in a research report on Tuesday, August 13th. DA Davidson lifted their price objective on shares of monday.com from $250.00 to $300.00 and gave the company a neutral rating in a research report on Wednesday. Canaccord Genuity Group lifted their price objective on shares of monday.com from $250.00 to $295.00 and gave the company a buy rating in a research report on Tuesday, August 13th. Tigress Financial lifted their price objective on shares of monday.com from $280.00 to $340.00 and gave the company a buy rating in a research report on Wednesday, August 21st. Finally, William Blair reiterated an outperform rating on shares of monday.com in a research report on Monday, June 24th. Five investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $293.79.

monday.com Stock Performance

Shares of monday.com stock traded down $0.94 during trading hours on Wednesday, reaching $280.70. The company's stock had a trading volume of 324,760 shares, compared to its average volume of 743,166. The company's 50 day simple moving average is $248.68 and its 200 day simple moving average is $228.33. monday.com has a one year low of $122.13 and a one year high of $285.64. The stock has a market cap of $13.55 billion, a P/E ratio of 738.68, a price-to-earnings-growth ratio of 13.58 and a beta of 1.32.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its quarterly earnings results on Monday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.01 by $0.23. monday.com had a net margin of 4.88% and a return on equity of 4.74%. The company had revenue of $236.11 million for the quarter, compared to the consensus estimate of $227.96 million. On average, sell-side analysts predict that monday.com will post 0.49 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

Hedge funds have recently made changes to their positions in the business. Sei Investments Co. grew its stake in shares of monday.com by 63.9% in the 1st quarter. Sei Investments Co. now owns 107,331 shares of the company's stock worth $24,243,000 after purchasing an additional 41,840 shares during the last quarter. Norden Group LLC acquired a new position in shares of monday.com in the 1st quarter worth approximately $840,000. Boulder Hill Capital Management LP acquired a new position in shares of monday.com in the 4th quarter worth approximately $2,197,000. Bessemer Group Inc. acquired a new position in shares of monday.com in the 1st quarter worth approximately $1,314,000. Finally, Toth Financial Advisory Corp acquired a new position in shares of monday.com in the 1st quarter worth approximately $782,000. Institutional investors and hedge funds 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.