monday.com Ltd. (NASDAQ:MNDY) Receives Average Rating of "Moderate Buy" from Brokerages

Key Points

• Analysts rate monday.com “Moderate Buy” overall: Of 25 analysts, 14 recommend buying, nine suggest holding, one recommends selling and one gives a strong-buy rating. The average 12-month price target is $117.91, compared with the stock’s reported $90.29 price.
• Institutional ownership is substantial and growing: Hedge funds and other institutions own 73.70% of MNDY, with major investors including Capital World Investors and Renaissance Technologies increasing their positions significantly.
• Recent quarterly results exceeded expectations: monday.com reported $1.48 in earnings per share versus the $1.11 consensus estimate, while revenue reached $364.62 million, up 21.9% year over year and above analyst expectations.

Shares of monday.com Ltd. (NASDAQ:MNDY - Get Free Report) have been given an average recommendation of "Moderate Buy" by the twenty-five ratings firms that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating, fourteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $117.9130.

MNDY has been the topic of several analyst reports. Piper Sandler reiterated a "neutral" rating and set a $90.00 price target on shares of monday.com in a report on Monday, August 10th. BTIG Research restated a "buy" rating and issued a $105.00 price objective on shares of monday.com in a research note on Monday, August 10th. Capital One Financial downgraded shares of monday.com from an "overweight" rating to an "equal weight" rating and set a $95.00 price objective for the company. in a report on Monday, August 10th. Jefferies Financial Group reiterated a "hold" rating and issued a $95.00 target price on shares of monday.com in a research note on Monday, August 10th. Finally, Weiss Ratings reiterated a "sell (d+)" rating on shares of monday.com in a report on Tuesday, September 8th.

Institutional Investors Weigh In On monday.com

Several hedge funds and other institutional investors have recently made changes to their positions in MNDY. Capital World Investors lifted its position in shares of monday.com by 91.4% during the 4th quarter. Capital World Investors now owns 3,286,461 shares of the company's stock worth $484,950,000 after purchasing an additional 1,569,198 shares during the last quarter. Renaissance Technologies LLC boosted its stake in monday.com by 93.3% during the 1st 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 period. Norges Bank acquired a new stake in monday.com in the 4th quarter valued at approximately $79,789,000. Geode Capital Management LLC grew its holdings in monday.com by 10.8% in the 4th quarter. Geode Capital Management LLC now owns 438,076 shares of the company's stock valued at $64,295,000 after buying an additional 42,655 shares during the last quarter. Finally, Ibex Investors LLC increased its position in monday.com by 56.7% in the 4th quarter. Ibex Investors LLC now owns 282,000 shares of the company's stock worth $41,612,000 after buying an additional 102,000 shares during the period. 73.70% of the stock is owned by institutional investors and hedge funds.

monday.com Stock Performance

MNDY opened at $90.29 on Friday. The company has a market cap of $4.62 billion, a PE ratio of 38.42, a price-to-earnings-growth ratio of 2.20 and a beta of 1.15. The stock has a 50-day moving average of $88.06 and a 200-day moving average of $78.92. monday.com has a 52-week low of $57.50 and a 52-week 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, beating analysts' consensus estimates of $1.11 by $0.37. monday.com had a return on equity of 9.09% and a net margin of 8.87%.The business had revenue of $364.62 million for the quarter, compared to the consensus estimate of $355.55 million. During the same period last year, the business earned $1.09 EPS. The firm's revenue was up 21.9% compared to the same quarter last year. On average, research analysts predict that monday.com will post 2.25 earnings per share for the current year.

monday.com Company Profile

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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