monday.com (NASDAQ:MNDY) Upgraded at Morgan Stanley

Key Points

• Morgan Stanley upgraded monday.com from an "equal weight" rating to an "overweight" rating, with a revised target price of $260.00, indicating a potential upside of 49.31% from current levels.
• monday.com reported $299.01 million in revenue for the last quarter, exceeding expectations and showing a year-over-year growth of 26.6%.
• The stock is currently rated as a "Moderate Buy" with an average target price of $326.86, supported by the majority of analysts who favor a buy rating.

monday.com (NASDAQ:MNDY - Get Free Report) was upgraded by Morgan Stanley from an "equal weight" rating to an "overweight" rating in a research report issued on Tuesday, Marketbeat.com reports. The firm currently has a $260.00 price target on the stock, down from their prior price target of $330.00. Morgan Stanley's price target suggests a potential upside of 47.95% from the stock's current price.

MNDY has been the topic of a number of other reports. Wall Street Zen lowered monday.com from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Canaccord Genuity Group decreased their price objective on monday.com from $375.00 to $350.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. KeyCorp reaffirmed an "overweight" rating and issued a $330.00 price objective on shares of monday.com in a report on Monday. JPMorgan Chase & Co. decreased their price objective on monday.com from $400.00 to $350.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Finally, Scotiabank upped their price objective on monday.com from $315.00 to $330.00 and gave the company a "sector outperform" rating in a report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $305.18.

monday.com Trading Down 0.7%

Shares of monday.com stock traded down $1.18 on Tuesday, reaching $175.74. 1,660,523 shares of the company were exchanged, compared to its average volume of 1,540,328. monday.com has a one year low of $171.54 and a one year high of $342.64. The company has a market capitalization of $8.92 billion, a price-to-earnings ratio of 237.49, a PEG ratio of 5.95 and a beta of 1.27. The company has a 50-day moving average of $276.72 and a 200 day moving average of $274.37.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported $1.09 earnings per share for the quarter, topping analysts' consensus estimates of $0.84 by $0.25. The business had revenue of $299.01 million for the quarter, compared to analyst estimates of $293.60 million. monday.com had a return on equity of 6.32% and a net margin of 3.63%. The firm's revenue was up 26.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.94 EPS. Analysts predict that monday.com will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

Institutional investors and hedge funds have recently made changes to their positions in the stock. ASR Vermogensbeheer N.V. acquired a new stake in shares of monday.com in the first quarter valued at about $25,000. Summit Securities Group LLC acquired a new stake in shares of monday.com in the first quarter valued at about $25,000. NewEdge Advisors LLC increased its stake in shares of monday.com by 2,120.0% in the first quarter. NewEdge Advisors LLC now owns 111 shares of the company's stock valued at $27,000 after buying an additional 106 shares during the period. Grove Bank & Trust acquired a new stake in shares of monday.com in the first quarter valued at about $30,000. Finally, First Horizon Advisors Inc. increased its stake in shares of monday.com by 72.9% in the first quarter. First Horizon Advisors Inc. now owns 166 shares of the company's stock valued at $40,000 after buying an additional 70 shares during the period. 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.