Wells Fargo & Company Issues Positive Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY - Free Report) had its target price increased by Wells Fargo & Company from $340.00 to $380.00 in a research report report published on Tuesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts have also recently commented on the company. Loop Capital cut their price target on monday.com from $310.00 to $300.00 and set a "buy" rating for the company in a report on Monday, December 23rd. Oppenheimer raised their price target on monday.com from $275.00 to $325.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 22nd. DA Davidson reiterated a "neutral" rating and issued a $300.00 price objective on shares of monday.com in a research note on Tuesday, November 12th. Piper Sandler increased their price objective on monday.com from $345.00 to $385.00 and gave the company an "overweight" rating in a research note on Monday. Finally, William Blair restated an "outperform" rating on shares of monday.com in a research note on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $353.32.

monday.com Price Performance

NASDAQ MNDY traded down $1.85 during trading hours on Tuesday, reaching $318.49. The company's stock had a trading volume of 371,407 shares, compared to its average volume of 1,175,707. The firm 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 company's 50-day moving average is $252.51 and its two-hundred day moving average is $263.46.

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

Institutional Trading of monday.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC acquired a new position in shares of monday.com in the 4th quarter valued at about $25,000. Arcadia Investment Management Corp MI acquired a new position in shares of monday.com in the 4th quarter valued at about $28,000. R Squared Ltd acquired a new position in shares of monday.com in the 4th quarter valued at about $33,000. Signaturefd LLC lifted its stake in shares of monday.com by 157.1% in the 4th quarter. Signaturefd LLC now owns 144 shares of the company's stock valued at $34,000 after purchasing an additional 88 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its stake in shares of monday.com by 64.8% in the 4th quarter. Global Retirement Partners LLC now owns 150 shares of the company's stock valued at $35,000 after purchasing an additional 59 shares in the last quarter. 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.