monday.com (NASDAQ:MNDY) Earns Outperform Rating from Analysts at Wolfe Research

Wolfe Research started coverage on shares of monday.com (NASDAQ:MNDY) in a research note published on Tuesday, MarketBeat reports. The firm issued an outperform rating and a $300.00 price objective on the stock.

A number of other analysts also recently weighed in on MNDY. Barclays initiated coverage on shares of monday.com in a research report on Wednesday, June 26th. They set an overweight rating and a $275.00 target price for the company. Wells Fargo & Company boosted their target price on shares of monday.com from $260.00 to $275.00 and gave the company an overweight rating in a report on Thursday, May 16th. William Blair reiterated an outperform rating on shares of monday.com in a report on Monday, June 24th. Citigroup downgraded monday.com from a buy rating to a neutral rating and dropped their price objective for the company from $277.00 to $250.00 in a research note on Wednesday, April 10th. Finally, DA Davidson raised their target price on monday.com from $190.00 to $230.00 and gave the stock a neutral rating in a research note on Thursday, May 16th. Three research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus target price of $255.83.

monday.com Stock Performance

Shares of NASDAQ MNDY opened at $231.33 on Tuesday. The firm has a 50 day moving average price of $224.02 and a two-hundred day moving average price of $212.80. The stock has a market cap of $11.17 billion, a P/E ratio of 608.78, a price-to-earnings-growth ratio of 46.92 and a beta of 1.30. monday.com has a 52-week low of $122.13 and a 52-week high of $251.48.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Wednesday, May 15th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.25. monday.com had a return on equity of 2.42% and a net margin of 2.53%. The business had revenue of $216.91 million during the quarter, compared to the consensus estimate of $210.33 million. Analysts predict that monday.com will post 0.12 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

A number of hedge funds have recently added to or reduced their stakes in the stock. WCM Investment Management LLC bought a new position in shares of monday.com in the first quarter valued at approximately $728,521,000. Jennison Associates LLC purchased a new position in monday.com during the 4th quarter worth $131,086,000. Baillie Gifford & Co. bought a new stake in shares of monday.com in the 1st quarter worth $76,534,000. Clearbridge Investments LLC grew its stake in shares of monday.com by 2,851.5% in the 1st quarter. Clearbridge Investments LLC now owns 344,525 shares of the company’s stock worth $77,818,000 after acquiring an additional 332,852 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in shares of monday.com during the fourth quarter valued at about $58,689,000. 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.