monday.com (NASDAQ:MNDY) Upgraded to "Buy" at Wall Street Zen

Key Points

• Wall Street Zen upgraded monday.com to “Buy” from “Hold,” contributing to a consensus “Moderate Buy” rating and an average analyst price target of $117.91.
• monday.com exceeded quarterly expectations, reporting $1.48 in EPS versus the $1.11 consensus and $364.62 million in revenue, up 21.9% year over year.
• The stock opened at $85.13 after declining 5.7%; institutional investors own 73.7% of the company, with several major funds significantly increasing their positions.

monday.com (NASDAQ:MNDY - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a report issued on Saturday, Wall Street Zen reports.

A number of other research firms have also commented on MNDY. BTIG Research reaffirmed a "buy" rating and set a $105.00 price objective on shares of monday.com in a research note on Monday, August 10th. Jefferies Financial Group reissued a "hold" rating and issued a $95.00 target price on shares of monday.com in a research note on Monday, August 10th. Wells Fargo & Company decreased their price target on shares of monday.com from $130.00 to $120.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 11th. Capital One Financial cut shares of monday.com from an "overweight" rating to an "equal weight" rating and set a $95.00 price target on the stock. in a research note on Monday, August 10th. Finally, Citigroup cut their price objective on shares of monday.com from $154.00 to $132.00 and set a "buy" rating for the company in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, monday.com has a consensus rating of "Moderate Buy" and an average price target of $117.91.

monday.com Trading Down 5.7%

NASDAQ:MNDY opened at $85.13 on Friday. The company has a market capitalization of $4.36 billion, a P/E ratio of 36.23, a price-to-earnings-growth ratio of 2.12 and a beta of 1.15. The firm has a 50-day moving average price of $88.12 and a two-hundred day moving average price of $78.96. monday.com has a twelve month low of $57.50 and a twelve month high of $220.80.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.11 by $0.37. The business had revenue of $364.62 million during the quarter, compared to analysts' expectations of $355.55 million. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The company's revenue was up 21.9% on a year-over-year basis. During the same period last year, the company posted $1.09 EPS. On average, equities research analysts predict that monday.com will post 2.25 earnings per share for the current year.

Hedge Funds Weigh In On monday.com

A number of large investors have recently bought and sold shares of MNDY. Capital World Investors boosted its holdings in monday.com by 91.4% in the fourth quarter. Capital World Investors now owns 3,286,461 shares of the company's stock valued at $484,950,000 after purchasing an additional 1,569,198 shares during the last quarter. Renaissance Technologies LLC increased its holdings in monday.com by 93.3% during the 1st quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company's stock worth $150,797,000 after purchasing an additional 1,052,900 shares during the last quarter. Norges Bank acquired a new position in shares of monday.com in the 4th quarter valued at approximately $79,789,000. RPD Fund Management LLC purchased a new position in shares of monday.com during the 1st quarter valued at approximately $17,529,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of monday.com by 1,517.6% during the 4th quarter. BNP Paribas Financial Markets now owns 172,016 shares of the company's stock valued at $25,383,000 after buying an additional 161,382 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company's stock.

About monday.com

monday.com Ltd. is a software company that provides cloud-based work management and productivity solutions for organizations of various sizes. Its platform is designed to help teams plan projects, manage workflows, coordinate tasks, track progress and collaborate across departments.

The company's product portfolio includes monday work management, monday CRM, monday dev and monday service. These products support functions such as project and portfolio management, customer relationship management, software development, IT service management and business process automation.

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