monday.com (NASDAQ:MNDY) Raised to Strong-Buy at Baird R W

Key Points

• monday.com (NASDAQ:MNDY) received an upgrade from a "hold" rating to a "strong-buy" rating by Baird R W, indicating a positive shift in analysts' outlook.
• The stock currently has a consensus rating of "Moderate Buy" with an average price target of $348.09, reflecting varying assessments from multiple analysts.
• In its latest earnings report, monday.com exceeded expectations with a net revenue increase of 30.2% year-over-year, reporting $282.25 million for the quarter.

monday.com (NASDAQ:MNDY - Get Free Report) was upgraded by equities researchers at Baird R W from a "hold" rating to a "strong-buy" rating in a research report issued on Wednesday,Zacks.com reports.

A number of other analysts also recently issued reports on MNDY. Wall Street Zen downgraded shares of monday.com from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Scotiabank lifted their target price on shares of monday.com from $315.00 to $330.00 and gave the stock a "sector outperform" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. decreased their target price on monday.com from $400.00 to $350.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. DA Davidson reduced their price target on shares of monday.com from $350.00 to $290.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Robert W. Baird set a $310.00 target price on shares of monday.com and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Three research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $348.09.

monday.com Price Performance

Shares of monday.com stock traded down $66.29 on Wednesday, hitting $181.76. The company had a trading volume of 5,940,987 shares, compared to its average volume of 821,429. The firm has a market capitalization of $9.23 billion, a P/E ratio of 185.47, a P/E/G ratio of 89.75 and a beta of 1.27. The stock has a 50-day moving average of $289.71 and a 200-day moving average of $277.38. monday.com has a twelve month low of $175.05 and a twelve month high of $342.64.

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

Institutional Investors Weigh In On monday.com

Several institutional investors and hedge funds have recently added to or reduced their stakes in MNDY. American Century Companies Inc. lifted its holdings in monday.com by 5.7% in the 4th quarter. American Century Companies Inc. now owns 2,622 shares of the company's stock worth $617,000 after purchasing an additional 141 shares during the last quarter. LPL Financial LLC increased its position in monday.com by 10.2% in the 4th quarter. LPL Financial LLC now owns 17,405 shares of the company's stock worth $4,098,000 after buying an additional 1,605 shares during the period. Vanguard Group Inc. increased its position in monday.com by 2.1% in the 4th quarter. Vanguard Group Inc. now owns 69,888 shares of the company's stock worth $16,454,000 after buying an additional 1,426 shares during the period. Orion Portfolio Solutions LLC increased its position in monday.com by 19.9% in the 4th quarter. Orion Portfolio Solutions LLC now owns 1,289 shares of the company's stock worth $303,000 after buying an additional 214 shares during the period. Finally, Wellington Management Group LLP increased its position in monday.com by 49.2% in the 4th quarter. Wellington Management Group LLP now owns 41,959 shares of the company's stock worth $9,879,000 after buying an additional 13,827 shares during the period. 73.70% of the stock is currently owned by institutional investors and hedge funds.

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.