monday.com (NASDAQ:MNDY) Price Target Raised to $310.00

monday.com (NASDAQ:MNDY) had its price objective boosted by Canaccord Genuity Group from $295.00 to $310.00 in a research note released on Tuesday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research analysts also recently weighed in on the company. UBS Group increased their price target on monday.com from $240.00 to $280.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. The Goldman Sachs Group increased their price target on monday.com from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Capital One Financial began coverage on monday.com in a research note on Thursday, October 10th. They set an “overweight” rating and a $325.00 price target for the company. Robert W. Baird increased their price target on monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Barclays increased their price target on monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $310.10.

monday.com Stock Performance

NASDAQ:MNDY traded down $9.56 during trading on Tuesday, reaching $259.34. The company’s stock had a trading volume of 300,867 shares, compared to its average volume of 721,730. The firm has a market cap of $12.52 billion, a price-to-earnings ratio of 655.85, a price-to-earnings-growth ratio of 12.55 and a beta of 1.31. The firm has a 50 day moving average of $280.09 and a 200-day moving average of $247.65. monday.com has a 12 month low of $166.86 and a 12 month high of $324.99.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data 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 firm 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%. The business’s revenue for the quarter was up 49.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. Equities research analysts forecast that monday.com will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

Large investors have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of monday.com during the 3rd quarter valued at about $43,000. Ridgewood Investments LLC bought a new position in monday.com during the 2nd quarter worth approximately $45,000. Gilliland Jeter Wealth Management LLC grew its position in monday.com by 72.9% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock worth $58,000 after acquiring an additional 102 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in monday.com during the 2nd quarter worth approximately $69,000. Finally, Industrial Alliance Investment Management Inc. grew its position in monday.com by 741.7% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock worth $91,000 after acquiring an additional 356 shares during the last quarter. 73.70% of the stock is 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.