monday.com (NASDAQ:MNDY) Stock Keeps Buy Rating at Needham & Company LLC

monday.com (NASDAQ:MNDY - Get Free Report)'s stock had its "buy" rating reiterated by investment analysts at Needham & Company LLC in a research note issued on Tuesday, Marketbeat.com reports. They presently have a $125.00 price objective on the stock. Needham & Company LLC's target price would suggest a potential upside of 20.46% from the company's current price.

Other research analysts have also issued reports about the company. Capital One Financial lowered monday.com from an "overweight" rating to an "equal weight" rating and set a $95.00 price objective on the stock. in a report on Monday, August 10th. Barclays lowered shares of monday.com from an "overweight" rating to an "equal weight" rating and set a $100.00 price target for the company. in a research report on Monday, October 12th. Piper Sandler reaffirmed a "neutral" rating and issued a $90.00 price objective on shares of monday.com in a report on Monday, August 10th. Wolfe Research lowered shares of monday.com from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, August 11th. Finally, Cantor Fitzgerald cut shares of monday.com from an "overweight" rating to a "neutral" rating and reduced their target price for the stock from $112.00 to $90.00 in a report on Monday, August 10th. Thirteen analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $111.70.

monday.com Trading Down 2.6%

NASDAQ:MNDY opened at $103.77 on Tuesday. The company has a market capitalization of $5.31 billion, a P/E ratio of 44.16, a PEG ratio of 2.40 and a beta of 1.14. monday.com has a 12 month low of $57.50 and a 12 month high of $210.49. The firm has a fifty day simple moving average of $90.10 and a 200-day simple moving average of $85.01.

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

Insider Buying and Selling

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

Institutional Trading of monday.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Oppenheimer & Co. Inc. purchased a new position in shares of monday.com in the 3rd quarter valued at about $201,000. Signaturefd LLC boosted its position in monday.com by 28.3% during the third quarter. Signaturefd LLC now owns 4,469 shares of the company's stock worth $351,000 after purchasing an additional 987 shares in the last quarter. Quadrant Capital Group LLC purchased a new position in monday.com during the third quarter worth approximately $235,000. Sequoia Financial Advisors LLC grew its holdings in monday.com by 60.2% in the second quarter. Sequoia Financial Advisors LLC now owns 6,312 shares of the company's stock valued at $457,000 after purchasing an additional 2,373 shares during the period. Finally, Engineers Gate Manager LP increased its position in shares of monday.com by 29.5% in the second quarter. Engineers Gate Manager LP now owns 38,981 shares of the company's stock valued at $2,822,000 after buying an additional 8,891 shares in the last quarter. Institutional investors and hedge funds own 73.70% of the company's stock.

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.