monday.com (NASDAQ:MNDY) Price Target Raised to $310.00 at Canaccord Genuity Group

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

MNDY has been the subject of a number of other reports. TD Cowen raised their price objective on monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Robert W. Baird boosted their price target on shares of monday.com from $265.00 to $270.00 and gave the company a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price objective on shares of monday.com from $270.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. The Goldman Sachs Group lifted their target price on shares of monday.com from $300.00 to $340.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Finally, Piper Sandler upped their price target on monday.com from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $310.10.

monday.com Price Performance

NASDAQ:MNDY opened at $260.59 on Tuesday. The company’s 50-day moving average is $279.27 and its two-hundred day moving average is $247.35. monday.com has a 1-year low of $150.10 and a 1-year high of $324.99. The firm has a market capitalization of $12.58 billion, a price-to-earnings ratio of 635.59, a PEG ratio of 12.91 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, November 11th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. The firm had revenue of $251.00 million for the quarter, compared to analysts’ expectations of $246.17 million. monday.com had a return on equity of 5.15% and a net margin of 2.39%. The firm’s quarterly revenue was up 49.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 earnings per share. As a group, equities analysts anticipate that monday.com will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

A number of institutional investors and hedge funds have recently modified their holdings of the company. Quent Capital LLC purchased a new stake in monday.com during the 1st quarter worth about $565,000. Envestnet Portfolio Solutions Inc. acquired a new position in monday.com in the first quarter valued at approximately $1,204,000. Oppenheimer Asset Management Inc. acquired a new position in monday.com in the first quarter valued at approximately $446,000. Swiss National Bank increased its stake in monday.com by 4.1% in the first quarter. Swiss National Bank now owns 86,400 shares of the company’s stock valued at $19,515,000 after purchasing an additional 3,400 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in monday.com by 63.9% during the first quarter. Sei Investments Co. now owns 107,331 shares of the company’s stock worth $24,243,000 after purchasing an additional 41,840 shares in the last quarter. Institutional investors and hedge funds 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.