monday.com (NASDAQ:MNDY) Hits New 1-Year High Following Analyst Upgrade

monday.com Ltd. (NASDAQ:MNDY)’s share price reached a new 52-week high during trading on Monday after The Goldman Sachs Group raised their price target on the stock from $350.00 to $400.00. The Goldman Sachs Group currently has a buy rating on the stock. monday.com traded as high as $334.30 and last traded at $332.76, with a volume of 1742926 shares traded. The stock had previously closed at $258.24.

Other equities analysts have also recently issued research reports about the company. Loop Capital reduced their target price on monday.com from $310.00 to $300.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Robert W. Baird lifted their price objective on monday.com from $275.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday. Citigroup upgraded monday.com from a “neutral” rating to a “buy” rating and dropped their target price for the company from $302.00 to $298.00 in a report on Thursday, January 16th. William Blair reiterated an “outperform” rating on shares of monday.com in a report on Wednesday, December 18th. Finally, Scotiabank upped their price objective on shares of monday.com from $300.00 to $400.00 and gave the company a “sector outperform” rating in a report on Tuesday. Four research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $353.32.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in MNDY. Prudential Financial Inc. increased its holdings in monday.com by 1.3% during the 4th quarter. Prudential Financial Inc. now owns 4,122 shares of the company’s stock worth $970,000 after purchasing an additional 53 shares during the period. Global Retirement Partners LLC increased its stake in shares of monday.com by 64.8% during the fourth quarter. Global Retirement Partners LLC now owns 150 shares of the company’s stock worth $35,000 after buying an additional 59 shares during the period. Avior Wealth Management LLC raised its holdings in monday.com by 2.6% in the third quarter. Avior Wealth Management LLC now owns 2,611 shares of the company’s stock valued at $725,000 after acquiring an additional 67 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in monday.com by 7.6% in the fourth quarter. Venturi Wealth Management LLC now owns 1,076 shares of the company’s stock worth $253,000 after acquiring an additional 76 shares during the last quarter. Finally, Vestcor Inc grew its holdings in monday.com by 16.0% during the 4th quarter. Vestcor Inc now owns 602 shares of the company’s stock worth $142,000 after acquiring an additional 83 shares in the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Trading Up 0.4 %

The firm’s fifty day simple moving average is $251.31 and its 200 day simple moving average is $262.68. The company has a market cap of $15.83 billion, a price-to-earnings ratio of 799.80, a PEG ratio of 7.67 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, February 10th. The company reported $0.50 EPS 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%. As a group, sell-side analysts expect that monday.com Ltd. will post 0.85 EPS for the current year.

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.