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

Research analysts at Morgan Stanley assumed coverage on shares of monday.com (NASDAQ:MNDY - Get Free Report) in a note issued to investors on Tuesday, MarketBeat reports. The brokerage set an "equal weight" rating and a $330.00 price target on the stock. Morgan Stanley's price target would suggest a potential upside of 17.66% from the stock's previous close.

Other equities analysts have also issued reports about the company. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 price objective on shares of monday.com in a research note on Tuesday, May 13th. Canaccord Genuity Group cut their price target on monday.com from $375.00 to $350.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Jefferies Financial Group lowered their price objective on shares of monday.com from $400.00 to $360.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. JPMorgan Chase & Co. reduced their price target on shares of monday.com from $400.00 to $350.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, UBS Group decreased their price target on shares of monday.com from $350.00 to $310.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Four investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $347.09.

monday.com Price Performance

MNDY traded down $6.97 on Tuesday, reaching $280.46. 525,027 shares of the company traded hands, compared to its average volume of 742,403. monday.com has a 52-week low of $188.01 and a 52-week high of $342.64. The company has a market cap of $14.24 billion, a price-to-earnings ratio of 286.18, a PEG ratio of 104.01 and a beta of 1.30. The stock's 50 day moving average price is $281.43 and its 200-day moving average price is $267.29.

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, beating the consensus estimate of $0.70 by $0.40. monday.com had a net margin of 5.08% and a return on equity of 7.87%. The firm had revenue of $282.25 million for the quarter, compared to analyst estimates of $275.93 million. During the same quarter last year, the firm earned $0.61 earnings per share. The company's revenue for the quarter was up 30.2% on a year-over-year basis. As a group, equities research analysts forecast that monday.com will post 0.46 earnings per share for the current fiscal year.

Institutional Trading of monday.com

Several institutional investors have recently added to or reduced their stakes in MNDY. WCM Investment Management LLC boosted its stake in shares of monday.com by 0.4% during the first quarter. WCM Investment Management LLC now owns 4,078,985 shares of the company's stock valued at $1,007,550,000 after purchasing an additional 17,371 shares during the period. FMR LLC raised its holdings in monday.com by 78.7% during the 4th quarter. FMR LLC now owns 2,701,952 shares of the company's stock valued at $636,147,000 after buying an additional 1,189,858 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in monday.com by 45.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,401,580 shares of the company's stock valued at $583,969,000 after buying an additional 745,686 shares during the period. JPMorgan Chase & Co. grew its holdings in monday.com by 102.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,682,013 shares of the company's stock worth $408,999,000 after acquiring an additional 851,231 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. increased its position in shares of monday.com by 98.6% in the first quarter. T. Rowe Price Investment Management Inc. now owns 924,325 shares of the company's stock valued at $224,759,000 after acquiring an additional 458,794 shares during the period. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

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.