monday.com (NASDAQ:MNDY) Stock Price Expected to Rise, Barclays Analyst Says

monday.com (NASDAQ:MNDY) had its target price raised by equities research analysts at Barclays from $325.00 to $360.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 7.69% from the stock’s current price.

A number of other research firms also recently commented on MNDY. Jefferies Financial Group raised their price objective on shares of monday.com from $300.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday. Needham & Company LLC lifted their price objective on monday.com from $350.00 to $400.00 and gave the company a “buy” rating in a report on Monday. Canaccord Genuity Group upped their target price on shares of monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. KeyCorp upgraded shares of monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 price target on the stock in a research report on Tuesday. Finally, Cantor Fitzgerald assumed coverage on monday.com in a report on Friday, January 17th. They issued an “overweight” rating and a $292.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, monday.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $341.36.

monday.com Stock Performance

Shares of MNDY stock traded up $7.72 on Tuesday, reaching $334.30. 159,008 shares of the company’s stock traded hands, compared to its average volume of 1,131,497. The business’s 50 day moving average price is $250.37 and its two-hundred day moving average price is $262.04. The company has a market capitalization of $16.14 billion, a P/E ratio of 812.32, a price-to-earnings-growth ratio of 7.67 and a beta of 1.31. monday.com has a 12-month low of $174.75 and a 12-month high of $342.64.

monday.com (NASDAQ:MNDY) last announced 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%. Research analysts predict that monday.com will post 0.85 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. FMR LLC raised its stake in monday.com by 112.0% in the 3rd quarter. FMR LLC now owns 1,512,094 shares of the company’s stock valued at $420,014,000 after acquiring an additional 798,791 shares during the period. SG Americas Securities LLC increased its stake in shares of monday.com by 1,024.7% during the fourth quarter. SG Americas Securities LLC now owns 476,392 shares of the company’s stock worth $112,162,000 after purchasing an additional 434,035 shares during the period. Jennison Associates LLC lifted its holdings in monday.com by 77.5% during the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock worth $202,905,000 after purchasing an additional 318,837 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in monday.com by 431.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock valued at $107,176,000 after buying an additional 313,279 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in monday.com during the 4th quarter worth $27,010,000. 73.70% of the stock is owned by institutional investors and hedge funds.

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.