monday.com (NASDAQ:MNDY) Upgraded to Buy at DA Davidson

monday.com (NASDAQ:MNDY) was upgraded by investment analysts at DA Davidson from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Monday, Marketbeat Ratings reports. The brokerage currently has a $350.00 target price on the stock. DA Davidson’s target price points to a potential upside of 36.79% from the stock’s previous close.

A number of other research analysts also recently weighed in on MNDY. JPMorgan Chase & Co. upped their price target on monday.com from $350.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. William Blair reaffirmed an “outperform” rating on shares of monday.com in a research report on Wednesday, December 18th. Robert W. Baird lifted their price target on shares of monday.com from $275.00 to $335.00 and gave the company a “neutral” rating in a research report on Tuesday, February 11th. Scotiabank upped their price objective on shares of monday.com from $300.00 to $400.00 and gave the stock a “sector outperform” rating in a report on Tuesday, February 11th. Finally, Tigress Financial raised their price objective on shares of monday.com from $340.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $358.32.

monday.com Stock Performance

monday.com stock opened at $255.87 on Monday. The stock has a market capitalization of $12.35 billion, a price-to-earnings ratio of 426.45, a PEG ratio of 16.53 and a beta of 1.27. monday.com has a 52-week low of $174.75 and a 52-week high of $342.64. The stock’s 50 day moving average price is $265.97 and its two-hundred day moving average price is $269.63.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, February 10th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a return on equity of 6.22% and a net margin of 3.33%. On average, equities research analysts forecast that monday.com will post 0.46 EPS for the current year.

Institutional Trading of monday.com

Several hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer & Co. Inc. raised its holdings in shares of monday.com by 24.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 6,765 shares of the company’s stock worth $1,593,000 after purchasing an additional 1,318 shares during the period. Jennison Associates LLC raised its stake in shares of monday.com by 77.5% in the third quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after buying an additional 318,837 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of monday.com during the 4th quarter valued at $245,000. Swiss National Bank grew its stake in shares of monday.com by 2.2% during the 3rd quarter. Swiss National Bank now owns 111,400 shares of the company’s stock worth $30,944,000 after acquiring an additional 2,400 shares during the period. Finally, Brown Capital Management LLC increased its holdings in monday.com by 2.4% in the 3rd quarter. Brown Capital Management LLC now owns 110,720 shares of the company’s stock worth $30,755,000 after acquiring an additional 2,583 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

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.