monday.com (NASDAQ:MNDY) Stock Keeps Buy Rating at Guggenheim

Key Points

• Guggenheim reaffirmed its Buy rating on monday.com and maintained a $130 price target, implying 44.47% upside from the prior close.
• Analyst sentiment is mixed: MarketBeat reports a consensus Hold rating from 25 analysts, with an average price target of $107.35; several firms recently downgraded the stock or lowered their targets.
• monday.com exceeded quarterly expectations, reporting $1.48 in EPS versus $1.11 expected and $364.62 million in revenue, up 21.9% year over year.

monday.com (NASDAQ:MNDY - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at Guggenheim in a research report issued to clients and investors on Tuesday, Benzinga reports. They presently have a $130.00 price target on the stock. Guggenheim's price objective would indicate a potential upside of 44.47% from the company's previous close.

MNDY has been the topic of several other reports. Barclays cut monday.com from an "overweight" rating to an "equal weight" rating and set a $100.00 price target on the stock. in a research report on Monday, October 12th. TD Cowen lowered shares of monday.com from a "buy" rating to a "hold" rating and cut their price objective for the company from $110.00 to $105.00 in a research report on Tuesday. Morgan Stanley set a $105.00 price objective on shares of monday.com in a research note on Tuesday. Needham & Company LLC reaffirmed a "buy" rating and set a $125.00 target price on shares of monday.com in a report on Tuesday, October 27th. Finally, Cantor Fitzgerald lowered shares of monday.com from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $112.00 to $90.00 in a report on Monday, August 10th. Twelve analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $107.35.

monday.com Stock Performance

Shares of NASDAQ MNDY opened at $89.98 on Tuesday. The stock has a market cap of $4.60 billion, a PE ratio of 38.16, a price-to-earnings-growth ratio of 2.21 and a beta of 1.14. monday.com has a fifty-two week low of $57.50 and a fifty-two week high of $200.62. The stock has a fifty day moving average of $90.87 and a 200-day moving average of $83.77.

monday.com (NASDAQ:MNDY - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.37. The company had revenue of $364.62 million for the quarter, compared to analyst estimates of $355.55 million. monday.com had a return on equity of 9.09% and a net margin of 8.87%. The firm's revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.09 EPS. On average, sell-side analysts predict that monday.com will post 2.34 EPS for the current year.

Insider Buying and Selling at monday.com

In other news, Director Aviad Eyal sold 2,000 shares of monday.com stock in a transaction dated Tuesday, October 20th. The stock was sold at an average price of $100.04, for a total transaction of $200,080.00. Following the completion of the sale, the director owned 203,455 shares in the company, valued at approximately $20,353,638.20. This trade represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.30% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. SEB Asset Management AB bought a new stake in monday.com during the first quarter valued at approximately $1,639,000. Swiss National Bank grew its stake in monday.com by 28.6% in the 1st quarter. Swiss National Bank now owns 159,100 shares of the company's stock worth $10,995,000 after buying an additional 35,400 shares in the last quarter. Empowered Funds LLC grew its stake in monday.com by 4,194.6% in the 1st quarter. Empowered Funds LLC now owns 14,430 shares of the company's stock worth $997,000 after buying an additional 14,094 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in shares of monday.com in the 2nd quarter worth $970,000. Finally, Arkadios Wealth Advisors bought a new position in shares of monday.com in the 1st quarter worth $1,534,000. 73.70% of the stock is currently owned by institutional investors.

About monday.com

monday.com Ltd. is a software company that provides a cloud-based Work Operating System (Work OS) designed to help organizations manage projects, workflows and business operations. Its platform uses configurable boards, dashboards, automations, integrations and collaboration tools, enabling teams to organize work and build workflows without extensive software development.

The company offers products tailored to several business functions, including monday work management for project and task coordination, monday CRM for sales and customer relationship processes, monday dev for software development teams, and monday service for managing customer support and service operations.

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