monday.com (NASDAQ:MNDY) Earns Overweight Rating from Analysts at Cantor Fitzgerald

Investment analysts at Cantor Fitzgerald started coverage on shares of monday.com (NASDAQ:MNDY) in a note issued to investors on Friday, Marketbeat reports. The firm set an “overweight” rating and a $292.00 price target on the stock. Cantor Fitzgerald’s target price would indicate a potential upside of 20.64% from the company’s current price.

Several other equities research analysts also recently commented on the company. Citigroup raised monday.com from a “neutral” rating to a “buy” rating and cut their price objective for the company from $302.00 to $298.00 in a report on Thursday. Scotiabank cut their price target on shares of monday.com from $325.00 to $300.00 and set a “sector outperform” rating for the company in a research note on Thursday. Barclays lifted their price objective on shares of monday.com from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Piper Sandler dropped their target price on shares of monday.com from $350.00 to $345.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Finally, Loop Capital reduced their price target on monday.com from $310.00 to $300.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, monday.com presently has an average rating of “Moderate Buy” and an average target price of $310.48.

monday.com Trading Up 0.6 %

Shares of MNDY stock opened at $242.05 on Friday. The firm’s fifty day moving average price is $256.02 and its two-hundred day moving average price is $259.53. monday.com has a 1 year low of $174.75 and a 1 year high of $324.99. The firm has a market capitalization of $11.69 billion, a P/E ratio of 590.37, a PEG ratio of 5.41 and a beta of 1.30.

monday.com (NASDAQ:MNDY) last released its 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. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The business had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. During the same quarter in the previous year, the business earned $0.15 earnings per share. monday.com’s quarterly revenue was up 49.5% on a year-over-year basis. As a group, equities research analysts forecast that monday.com will post 0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SG Americas Securities LLC grew its stake in 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 buying an additional 434,035 shares in the last quarter. Legal Advantage Investments Inc. acquired a new stake in shares of monday.com during the 4th quarter worth approximately $235,000. Oak Ridge Investments LLC bought a new position in monday.com in the fourth quarter valued at approximately $633,000. Channel Wealth LLC acquired a new position in monday.com during the fourth quarter valued at approximately $986,000. Finally, Park Avenue Securities LLC bought a new stake in monday.com during the fourth quarter worth $241,000. 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.