monday.com (NASDAQ:MNDY) Earns Outperform Rating from William Blair

William Blair reaffirmed their outperform rating on shares of monday.com (NASDAQ:MNDY) in a research report report published on Wednesday,RTT News reports.

A number of other research firms also recently commented on MNDY. Scotiabank initiated coverage on shares of monday.com in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $325.00 price objective for the company. KeyCorp downgraded monday.com from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Loop Capital upped their target price on monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Tigress Financial boosted their target price on monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company lifted their price objective on shares of monday.com from $315.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $309.62.

monday.com Stock Performance

NASDAQ MNDY traded down $3.96 on Wednesday, reaching $228.03. 290,539 shares of the company’s stock traded hands, compared to its average volume of 739,086. The stock has a 50 day moving average price of $284.33 and a 200-day moving average price of $258.70. The firm has a market cap of $11.01 billion, a price-to-earnings ratio of 556.17, a P/E/G ratio of 7.75 and a beta of 1.25. monday.com has a fifty-two week low of $170.00 and a fifty-two week high of $324.99.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. The company had revenue of $251.00 million during the quarter, compared to the consensus estimate of $246.17 million. monday.com had a return on equity of 4.99% and a net margin of 2.39%. monday.com’s revenue for the quarter was up 49.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.15 earnings per share. As a group, equities research analysts anticipate that monday.com will post 0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in monday.com by 14.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,606 shares of the company’s stock worth $15,555,000 after acquiring an additional 8,106 shares during the period. Raymond James & Associates boosted its stake in shares of monday.com by 9.8% in the second quarter. Raymond James & Associates now owns 31,845 shares of the company’s stock valued at $7,667,000 after purchasing an additional 2,850 shares during the period. Gilliland Jeter Wealth Management LLC grew its holdings in monday.com by 72.9% during 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. McAdam LLC purchased a new stake in monday.com during the 2nd quarter worth $611,000. Finally, Bank of New York Mellon Corp lifted its holdings in monday.com by 171.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 273,877 shares of the company’s stock worth $65,938,000 after buying an additional 172,919 shares in the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

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.