TD Cowen Increases monday.com (NASDAQ:MNDY) Price Target to $300.00

monday.com (NASDAQ:MNDY) had its price objective lifted by TD Cowen from $275.00 to $300.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. TD Cowen’s price target indicates a potential upside of 15.31% from the company’s previous close.

Several other research firms also recently commented on MNDY. Piper Sandler restated an “overweight” rating and set a $300.00 price objective (up previously from $270.00) on shares of monday.com in a report on Monday. Baird R W upgraded monday.com to a “hold” rating in a report on Tuesday, July 23rd. Wells Fargo & Company upped their price target on monday.com from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Loop Capital upped their price target on monday.com from $245.00 to $285.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, The Goldman Sachs Group upped their price target on monday.com from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $282.63.

monday.com Trading Up 0.4 %

MNDY stock traded up $1.12 during mid-day trading on Tuesday, reaching $260.17. The company’s stock had a trading volume of 630,834 shares, compared to its average volume of 798,685. The company has a market cap of $12.56 billion, a price-to-earnings ratio of 689.26, a price-to-earnings-growth ratio of 43.41 and a beta of 1.30. The business’s 50 day moving average price is $228.86 and its 200 day moving average price is $218.68. monday.com has a 12 month low of $122.13 and a 12 month high of $265.97.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Wednesday, May 15th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of ($0.11) by $0.25. The firm had revenue of $216.91 million during the quarter, compared to the consensus estimate of $210.33 million. monday.com had a return on equity of 2.42% and a net margin of 2.53%. As a group, equities analysts expect that monday.com will post 0.12 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. WCM Investment Management LLC purchased a new position in shares of monday.com in the 1st quarter valued at approximately $728,521,000. Price T Rowe Associates Inc. MD lifted its stake in shares of monday.com by 1.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,164,566 shares of the company’s stock valued at $714,781,000 after purchasing an additional 31,304 shares during the period. Renaissance Technologies LLC lifted its stake in shares of monday.com by 20.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock valued at $270,299,000 after purchasing an additional 188,800 shares during the period. 1832 Asset Management L.P. lifted its stake in shares of monday.com by 12.1% in the 4th quarter. 1832 Asset Management L.P. now owns 860,300 shares of the company’s stock valued at $161,573,000 after purchasing an additional 92,600 shares during the period. Finally, Jennison Associates LLC lifted its stake in shares of monday.com by 12.1% in the 1st quarter. Jennison Associates LLC now owns 782,154 shares of the company’s stock valued at $176,665,000 after purchasing an additional 84,182 shares during the period. Hedge funds and other institutional investors 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.