monday.com (NASDAQ:MNDY) Upgraded by Citigroup to Buy Rating

monday.com (NASDAQ:MNDY) was upgraded by research analysts at Citigroup from a “neutral” rating to a “buy” rating in a note issued to investors on Thursday,Benzinga reports. The firm currently has a $298.00 price objective on the stock, down from their previous price objective of $302.00. Citigroup’s price target would indicate a potential upside of 27.27% from the stock’s previous close.

A number of other research firms have also issued reports on MNDY. Needham & Company LLC boosted their target price on monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Capital One Financial initiated coverage on monday.com in a research note on Thursday, October 10th. They set an “overweight” rating and a $325.00 target price for the company. William Blair restated an “outperform” rating on shares of monday.com in a research note on Wednesday, December 18th. Piper Sandler cut their price objective on monday.com from $350.00 to $345.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Finally, Canaccord Genuity Group boosted their target price on shares of monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, monday.com presently has a consensus rating of “Moderate Buy” and an average target price of $312.65.

monday.com Trading Up 6.4 %

Shares of NASDAQ:MNDY opened at $234.15 on Thursday. monday.com has a 12-month low of $174.75 and a 12-month high of $324.99. The company has a market capitalization of $11.30 billion, a price-to-earnings ratio of 571.10, a PEG ratio of 5.41 and a beta of 1.30. The business has a 50-day moving average price of $260.86 and a 200 day moving average price of $259.67.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, topping 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 analyst estimates of $246.17 million. During the same quarter in the prior year, the company earned $0.15 earnings per share. The company’s revenue was up 49.5% on a year-over-year basis. As a group, equities research analysts predict that monday.com will post 0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

A number of institutional investors have recently made changes to their positions in MNDY. FMR LLC increased its position in monday.com by 112.0% during the 3rd quarter. FMR LLC now owns 1,512,094 shares of the company’s stock worth $420,014,000 after purchasing an additional 798,791 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of 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. 1832 Asset Management L.P. boosted its stake in shares of monday.com by 34.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock worth $160,707,000 after purchasing an additional 170,800 shares during the last quarter. Westfield Capital Management Co. LP grew its holdings in shares of monday.com by 2.4% during the third quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company’s stock worth $166,767,000 after buying an additional 14,304 shares in the last quarter. Finally, State Street Corp raised its position in shares of monday.com by 3.8% in the third quarter. State Street Corp now owns 587,879 shares of the company’s stock valued at $163,295,000 after buying an additional 21,585 shares during the last quarter. 73.70% of the stock is owned by institutional investors and hedge funds.

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.