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

Key Points

• Wall Street Zen upgraded monday.com from “hold” to “buy,” while the broader analyst consensus remains “Moderate Buy” with an average price target of $111.70.
• monday.com reported quarterly earnings of $1.48 per share, surpassing the $1.11 estimate, while revenue reached $364.62 million and grew 21.9% year over year.
• The stock opened at $78.80, with a market capitalization of approximately $4.03 billion; institutional investors own 73.70% of the company.

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

Other analysts have also issued reports about the stock. Weiss Ratings restated a "sell (d+)" rating on shares of monday.com in a research note on Tuesday, September 8th. Wolfe Research downgraded shares of monday.com from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, August 11th. UBS Group increased their price target on shares of monday.com from $85.00 to $95.00 and gave the company a "neutral" rating in a report on Tuesday, August 11th. Zacks Research raised shares of monday.com from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 12th. Finally, Cantor Fitzgerald lowered shares of monday.com from an "overweight" rating to a "neutral" rating and decreased their price objective for the stock from $112.00 to $90.00 in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, monday.com currently has a consensus rating of "Moderate Buy" and an average price target of $111.70.

monday.com Stock Performance

monday.com stock opened at $78.80 on Monday. The business's fifty day simple moving average is $88.95 and its two-hundred day simple moving average is $79.42. monday.com has a 12 month low of $57.50 and a 12 month high of $210.49. The company has a market capitalization of $4.03 billion, a price-to-earnings ratio of 33.53, a price-to-earnings-growth ratio of 1.78 and a beta of 1.14.

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

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC raised its stake in monday.com by 498.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company's stock worth $29,000 after acquiring an additional 354 shares during the period. Evanson Financial LLC bought a new position in shares of monday.com in the second quarter worth approximately $219,000. State of Wyoming boosted its position in shares of monday.com by 96.6% in the first quarter. State of Wyoming now owns 3,497 shares of the company's stock worth $242,000 after purchasing an additional 1,718 shares during the period. Fulton Bank N.A. boosted its position in shares of monday.com by 5.1% in the second quarter. Fulton Bank N.A. now owns 3,339 shares of the company's stock worth $242,000 after purchasing an additional 162 shares during the period. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of monday.com in the first quarter worth $272,000. 73.70% of the stock is owned by hedge funds and other institutional investors.

About monday.com

monday.com Ltd. develops cloud-based software designed to help organizations plan, manage and track work. Its platform provides customizable workflows, visual boards, dashboards, automations and collaboration tools that teams can use to coordinate projects, processes and day-to-day operations.

The company offers a portfolio of products built on its Work Operating System, including monday work management for project and task coordination, monday CRM for sales and customer-management activities, monday dev for software-development teams and monday service for service-management workflows.

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