Needham & Company LLC Increases monday.com (NASDAQ:MNDY) Price Target to $350.00

monday.com (NASDAQ:MNDY - Get Free Report) had its target price lifted by Needham & Company LLC from $300.00 to $350.00 in a report released on Tuesday,Benzinga reports. The firm currently has a "buy" rating on the stock. Needham & Company LLC's price objective points to a potential upside of 34.31% from the stock's current price.

Several other equities analysts have also weighed in on the stock. UBS Group lifted their target price on shares of monday.com from $240.00 to $280.00 and gave the company a "neutral" rating in a report on Tuesday, August 13th. Wells Fargo & Company lifted their target price on monday.com from $315.00 to $330.00 and gave the stock an "overweight" rating in a report on Monday, November 4th. Capital One Financial started coverage on shares of monday.com in a report on Thursday, October 10th. They issued an "overweight" rating and a $325.00 price target for the company. TD Cowen boosted their price objective on shares of monday.com from $300.00 to $320.00 and gave the stock a "buy" rating in a research note on Thursday, September 26th. Finally, Loop Capital lifted their price objective on shares of monday.com from $285.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, September 25th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $310.10.

monday.com Trading Down 5.3 %

NASDAQ MNDY traded down $14.62 on Tuesday, hitting $260.59. 2,117,767 shares of the company were exchanged, compared to its average volume of 717,002. monday.com has a 1-year low of $150.10 and a 1-year high of $324.99. The company has a market cap of $12.58 billion, a P/E ratio of 339.61, a P/E/G ratio of 15.22 and a beta of 1.31. The firm has a 50 day moving average of $279.07 and a two-hundred day moving average of $246.86.

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

Institutional Investors Weigh In On monday.com

Hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. acquired a new position in monday.com in the 3rd quarter valued at $43,000. Ridgewood Investments LLC bought a new position in shares of monday.com in the second quarter worth about $45,000. Gilliland Jeter Wealth Management LLC raised its holdings in shares of monday.com by 72.9% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company's stock valued at $58,000 after purchasing an additional 102 shares in the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of monday.com during the 2nd quarter worth approximately $69,000. Finally, Industrial Alliance Investment Management Inc. boosted its stake in shares of monday.com by 741.7% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company's stock valued at $91,000 after buying an additional 356 shares during the period. Hedge funds and other 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.