monday.com (NASDAQ:MNDY) Coverage Initiated by Analysts at Morgan Stanley

Investment analysts at Morgan Stanley initiated coverage on shares of monday.com (NASDAQ:MNDY - Get Free Report) in a research report issued on Tuesday,Briefing.com Automated Import reports. The firm set an "equal weight" rating and a $330.00 price target on the stock. Morgan Stanley's target price suggests a potential upside of 13.98% from the company's previous close.

Other equities analysts also recently issued reports about the company. Scotiabank raised their price objective on monday.com from $315.00 to $330.00 and gave the stock a "sector outperform" rating in a research report on Friday, May 2nd. Wells Fargo & Company set a $365.00 target price on shares of monday.com and gave the company an "overweight" rating in a research report on Friday. Wall Street Zen upgraded shares of monday.com from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Tigress Financial increased their price objective on shares of monday.com from $340.00 to $450.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, Needham & Company LLC reissued a "buy" rating and set a $400.00 target price on shares of monday.com in a research note on Tuesday, May 13th. Four analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company's stock. According to MarketBeat, monday.com currently has a consensus rating of "Moderate Buy" and a consensus target price of $347.09.

monday.com Price Performance

MNDY opened at $289.53 on Tuesday. monday.com has a fifty-two week low of $188.01 and a fifty-two week high of $342.64. The company's 50 day moving average price is $279.09 and its two-hundred day moving average price is $266.91. The firm has a market capitalization of $14.70 billion, a price-to-earnings ratio of 482.55, a PEG ratio of 16.53 and a beta of 1.30.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.40. The company had revenue of $282.25 million for the quarter, compared to analysts' expectations of $275.93 million. monday.com had a net margin of 3.33% and a return on equity of 6.22%. monday.com's revenue for the quarter was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.61 earnings per share. As a group, equities research analysts predict that monday.com will post 0.46 EPS for the current year.

Institutional Trading of monday.com

Several hedge funds have recently bought and sold shares of the business. ASR Vermogensbeheer N.V. bought a new position in shares of monday.com in the first quarter valued at $25,000. Summit Securities Group LLC acquired a new stake in shares of monday.com in the 1st quarter worth about $25,000. NewEdge Advisors LLC lifted its position in monday.com by 2,120.0% in the 1st quarter. NewEdge Advisors LLC now owns 111 shares of the company's stock valued at $27,000 after acquiring an additional 106 shares in the last quarter. Arcadia Investment Management Corp MI acquired a new position in monday.com during the 4th quarter valued at about $28,000. Finally, Grove Bank & Trust purchased a new stake in shares of monday.com in the first quarter worth approximately $30,000. Institutional investors and hedge funds own 73.70% of the company's stock.

monday.com Company Profile

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.

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