monday.com (NASDAQ:MNDY) Price Target Increased to $250.00 by Analysts at Canaccord Genuity Group

monday.com (NASDAQ:MNDY) had its price objective boosted by research analysts at Canaccord Genuity Group from $220.00 to $250.00 in a note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective points to a potential upside of 9.94% from the company’s current price.

Several other research firms have also issued reports on MNDY. DA Davidson lifted their price target on shares of monday.com from $190.00 to $230.00 and gave the stock a “neutral” rating in a report on Thursday. Needham & Company LLC boosted their target price on shares of monday.com from $230.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday. Tigress Financial raised their price target on shares of monday.com from $240.00 to $280.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. The Goldman Sachs Group boosted their price objective on shares of monday.com from $270.00 to $300.00 and gave the company a “buy” rating in a report on Thursday. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $270.00 price target (up previously from $250.00) on shares of monday.com in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $252.50.

monday.com Stock Up 3.0 %

MNDY traded up $6.67 during trading hours on Thursday, reaching $227.39. 956,046 shares of the company’s stock traded hands, compared to its average volume of 863,130. monday.com has a 52-week low of $122.13 and a 52-week high of $239.22. The firm has a 50-day moving average price of $204.61 and a 200 day moving average price of $194.62. The firm has a market capitalization of $10.98 billion, a PE ratio of -3,240.97 and a beta of 1.24.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, February 12th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.33. monday.com had a negative net margin of 0.26% and a negative return on equity of 0.43%. The company had revenue of $202.60 million during the quarter, compared to the consensus estimate of $197.97 million. During the same quarter in the previous year, the firm posted ($0.03) earnings per share. monday.com’s revenue for the quarter was up 35.5% compared to the same quarter last year. Equities analysts predict that monday.com will post -0.16 EPS for the current fiscal year.

Institutional Trading of monday.com

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Raymond James & Associates raised its holdings in shares of monday.com by 55.2% during the fourth quarter. Raymond James & Associates now owns 12,525 shares of the company’s stock valued at $2,352,000 after acquiring an additional 4,457 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in monday.com during the 4th quarter worth $25,925,000. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of monday.com by 19.9% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 47,864 shares of the company’s stock worth $8,989,000 after buying an additional 7,955 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of monday.com by 58.0% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 156,609 shares of the company’s stock valued at $29,413,000 after buying an additional 57,500 shares during the last quarter. Finally, Andar Capital Management HK Ltd purchased a new position in shares of monday.com in the fourth quarter worth about $3,005,000. Hedge funds and other 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.