monday.com (NASDAQ:MNDY) Raised to “Buy” at Citigroup

monday.com (NASDAQ:MNDY) was upgraded by equities researchers at Citigroup from a “neutral” rating to a “buy” rating in a research report issued on Thursday, Marketbeat Ratings reports. The brokerage currently has a $298.00 target price on the stock, down from their prior target price of $302.00. Citigroup’s price objective points to a potential upside of 23.12% from the stock’s previous close.

Several other equities analysts have also issued reports on MNDY. Loop Capital decreased their target price on monday.com from $310.00 to $300.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. William Blair reissued an “outperform” rating on shares of monday.com in a research note on Wednesday, December 18th. Piper Sandler cut their price target on monday.com from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Scotiabank assumed coverage on monday.com in a report on Tuesday, November 19th. They set a “sector outperform” rating and a $325.00 price target on the stock. Finally, KeyCorp downgraded monday.com from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $310.48.

monday.com Stock Up 0.6 %

Shares of monday.com stock opened at $242.05 on Thursday. monday.com has a 52 week low of $174.75 and a 52 week high of $324.99. The business’s fifty day simple moving average is $257.66 and its 200-day simple moving average is $259.36. The firm has a market cap of $11.69 billion, a PE ratio of 590.37, a price-to-earnings-growth ratio of 5.41 and a beta of 1.30.

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

Institutional Trading of monday.com

Hedge funds have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new stake in monday.com during the 3rd quarter worth approximately $43,000. Toronto Dominion Bank acquired a new stake in monday.com during the 2nd quarter worth approximately $120,000. Vestcor Inc lifted its position in monday.com by 31.4% during the 3rd quarter. Vestcor Inc now owns 519 shares of the company’s stock worth $144,000 after acquiring an additional 124 shares during the period. Larson Financial Group LLC lifted its position in monday.com by 645.7% during the 3rd quarter. Larson Financial Group LLC now owns 604 shares of the company’s stock worth $168,000 after acquiring an additional 523 shares during the period. Finally, Northwest & Ethical Investments L.P. lifted its position in monday.com by 18.2% during the 3rd quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company’s stock worth $181,000 after acquiring an additional 100 shares during the period. 73.70% of the stock is owned by institutional investors and hedge funds.

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.