monday.com (NASDAQ:MNDY) Stock Rating Reaffirmed as "Buy" by BTIG Research

Key Points

• BTIG Research reaffirmed its “Buy” rating on monday.com and set a $105 price target, implying approximately 7.34% upside from the reported current price.
• Analyst sentiment remains broadly positive but mixed: monday.com has a consensus “Moderate Buy” rating and an average price target of $111.70, based on 13 Buy and 12 Hold ratings.
• The company recently exceeded quarterly expectations, reporting $1.48 in EPS versus $1.11 expected and revenue of $364.62 million, up 21.9% year over year. Shares opened at $97.82 and were down 1.8% in the session.

monday.com (NASDAQ:MNDY - Get Free Report)'s stock had its "buy" rating reaffirmed by equities research analysts at BTIG Research in a research note issued to investors on Thursday, Benzinga reports. They currently have a $105.00 target price on the stock. BTIG Research's price objective would suggest a potential upside of 7.34% from the stock's current price.

Other analysts also recently issued reports about the company. Needham & Company LLC reiterated a "buy" rating and issued a $125.00 price target on shares of monday.com in a report on Tuesday. Barclays cut monday.com from an "overweight" rating to an "equal weight" rating and set a $100.00 price objective on the stock. in a research note on Monday, October 12th. Wells Fargo & Company lowered their target price on monday.com from $130.00 to $120.00 and set an "overweight" rating for the company in a research note on Tuesday, August 11th. Cantor Fitzgerald downgraded monday.com from an "overweight" rating to a "neutral" rating and dropped their target price for the company from $112.00 to $90.00 in a report on Monday, August 10th. Finally, Capital One Financial lowered monday.com from an "overweight" rating to an "equal weight" rating and set a $95.00 price target on the stock. in a research report on Monday, August 10th. Thirteen equities research analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $111.70.

monday.com Stock Down 1.8%

MNDY opened at $97.82 on Thursday. monday.com has a 52-week low of $57.50 and a 52-week high of $210.49. The company has a 50 day moving average of $90.62 and a two-hundred day moving average of $84.51. The company has a market cap of $5.00 billion, a P/E ratio of 41.63, a P/E/G ratio of 2.40 and a beta of 1.14.

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

Insider Buying and Selling

In other monday.com news, Director Aviad Eyal sold 2,000 shares of the business's stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $100.04, for a total value of $200,080.00. Following the transaction, the director owned 203,455 shares in the company, valued at $20,353,638.20. The trade was a 0.97% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.30% of the stock is owned by corporate insiders.

Institutional Trading of monday.com

Several large investors have recently modified their holdings of MNDY. Renaissance Technologies LLC boosted its holdings in monday.com by 93.3% in the first quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company's stock valued at $150,797,000 after purchasing an additional 1,052,900 shares during the last quarter. RPD Fund Management LLC acquired a new stake in monday.com during the 1st quarter valued at approximately $17,529,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in monday.com during the 2nd quarter worth approximately $5,098,000. Counterpoint Mutual Funds LLC increased its holdings in monday.com by 2,038.1% during the 1st quarter. Counterpoint Mutual Funds LLC now owns 73,507 shares of the company's stock worth $5,080,000 after purchasing an additional 70,069 shares during the last quarter. Finally, Bank of America Corp DE increased its holdings in monday.com by 33.6% during the 1st quarter. Bank of America Corp DE now owns 194,635 shares of the company's stock worth $13,451,000 after purchasing an additional 49,002 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

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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