monday.com (NASDAQ:MNDY) Given Overweight Rating at Piper Sandler

Piper Sandler restated their overweight rating on shares of monday.com (NASDAQ:MNDY - Free Report) in a report released on Wednesday,Benzinga reports. The brokerage currently has a $350.00 price target on the stock.

MNDY has been the subject of a number of other reports. Barclays upped their price objective on monday.com from $300.00 to $325.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 1st. Loop Capital increased their price target on shares of monday.com from $285.00 to $310.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. TD Cowen lifted their price objective on shares of monday.com from $300.00 to $320.00 and gave the stock a "buy" rating in a research report on Thursday, September 26th. Canaccord Genuity Group boosted their price objective on shares of monday.com from $295.00 to $310.00 and gave the stock a "buy" rating in a research note on Tuesday, November 12th. Finally, Tigress Financial raised their target price on shares of monday.com from $280.00 to $340.00 and gave the company a "buy" rating in a research note on Wednesday, August 21st. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, monday.com has an average rating of "Moderate Buy" and an average target price of $309.62.

monday.com Price Performance

NASDAQ MNDY traded down $19.81 during trading on Wednesday, reaching $231.99. 2,941,914 shares of the company's stock traded hands, compared to its average volume of 741,178. The company's 50 day simple moving average is $284.33 and its two-hundred day simple moving average is $258.70. monday.com has a 12-month low of $170.00 and a 12-month high of $324.99. The firm has a market cap of $11.20 billion, a price-to-earnings ratio of 565.83, a price-to-earnings-growth ratio of 7.75 and a beta of 1.25.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.24. The company had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. monday.com's revenue was up 49.5% compared to the same quarter last year. During the same period last year, the company posted $0.15 earnings per share. Research analysts expect that monday.com will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of monday.com

A number of hedge funds and other institutional investors have recently made changes to their positions in MNDY. FMR LLC boosted its holdings in monday.com by 112.0% in the third quarter. FMR LLC now owns 1,512,094 shares of the company's stock valued at $420,014,000 after purchasing an additional 798,791 shares during the last quarter. Jennison Associates LLC grew its holdings in monday.com by 77.5% during the third quarter. Jennison Associates LLC now owns 730,478 shares of the company's stock worth $202,905,000 after acquiring an additional 318,837 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in monday.com by 431.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company's stock worth $107,176,000 after acquiring an additional 313,279 shares during the period. Renaissance Technologies LLC raised its position in monday.com by 20.2% during the second quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company's stock valued at $270,299,000 after acquiring an additional 188,800 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in monday.com by 171.3% in the second quarter. Bank of New York Mellon Corp now owns 273,877 shares of the company's stock valued at $65,938,000 after acquiring an additional 172,919 shares during the period. Institutional investors and hedge funds own 73.70% of the company's stock.

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.