monday.com (NASDAQ:MNDY) Receives "Overweight" Rating from Piper Sandler

Piper Sandler restated their overweight rating on shares of monday.com (NASDAQ:MNDY - Free Report) in a report issued on Friday morning,Benzinga reports. They currently have a $325.00 price objective on the stock.

MNDY has been the topic of several other reports. Jefferies Financial Group lowered their target price on shares of monday.com from $400.00 to $360.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Needham & Company LLC reiterated a "buy" rating and set a $400.00 target price on shares of monday.com in a research report on Tuesday, May 13th. Wall Street Zen raised monday.com from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. DA Davidson cut their price target on monday.com from $350.00 to $290.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Finally, UBS Group decreased their price objective 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 research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to MarketBeat, monday.com presently has a consensus rating of "Moderate Buy" and a consensus target price of $347.09.

monday.com Stock Performance

MNDY traded up $6.52 during trading on Friday, reaching $314.48. The company's stock had a trading volume of 502,434 shares, compared to its average volume of 738,773. The company's fifty day moving average price is $287.44 and its 200-day moving average price is $267.52. monday.com has a 52-week low of $188.01 and a 52-week high of $342.64. The company has a market capitalization of $15.97 billion, a price-to-earnings ratio of 320.90, a price-to-earnings-growth ratio of 111.43 and a beta of 1.30.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.40. The firm had revenue of $282.25 million for the quarter, compared to analyst estimates of $275.93 million. monday.com had a return on equity of 7.87% and a net margin of 5.08%. monday.com's quarterly revenue was up 30.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.61 earnings per share. Equities analysts predict that monday.com will post 0.46 earnings per share for the current year.

Hedge Funds Weigh In On monday.com

Several hedge funds and other institutional investors have recently modified their holdings of MNDY. Rhumbline Advisers boosted its stake in shares of monday.com by 4.6% during the 4th quarter. Rhumbline Advisers now owns 10,561 shares of the company's stock valued at $2,486,000 after buying an additional 465 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in monday.com in the fourth quarter valued at $290,000. Truist Financial Corp boosted its stake in monday.com by 8.6% during the 4th quarter. Truist Financial Corp now owns 4,048 shares of the company's stock valued at $953,000 after acquiring an additional 322 shares during the last quarter. Global Retirement Partners LLC grew its holdings in monday.com by 64.8% during the 4th quarter. Global Retirement Partners LLC now owns 150 shares of the company's stock worth $35,000 after acquiring an additional 59 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of monday.com by 3.4% in the 4th quarter. Bank of New York Mellon Corp now owns 255,455 shares of the company's stock worth $60,144,000 after purchasing an additional 8,329 shares during the last quarter. 73.70% of the stock is owned by institutional investors and hedge funds.

About monday.com

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.