monday.com (NASDAQ:MNDY) Upgraded by Zacks Research to Strong-Buy Rating

Key Points

• Zacks Research upgraded monday.com from “hold” to “strong buy,” though broader analyst sentiment remains “moderate buy” with an average price target of $117.91.
• monday.com reported quarterly EPS of $1.48, beating estimates of $1.11, while revenue reached $364.62 million and increased 21.9% year over year.
• The stock opened at $94.29 after rising 9.7%; institutional investors own 73.7% of the company, with several firms recently initiating or expanding positions.

monday.com (NASDAQ:MNDY - Get Free Report) was upgraded by analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Wednesday,Zacks.com reports.

A number of other research analysts also recently issued reports on the stock. Weiss Ratings restated a "sell (d+)" rating on shares of monday.com in a research report on Thursday, June 11th. Wall Street Zen raised shares of monday.com from a "hold" rating to a "buy" rating in a research note on Sunday, July 12th. Wolfe Research downgraded shares of monday.com from an "outperform" rating to a "peer perform" rating in a research note on Tuesday. Tigress Financial cut their price objective on shares of monday.com to $165.00 and set a "buy" rating on the stock in a report on Friday, May 22nd. Finally, Oppenheimer set a $115.00 price objective on shares of monday.com in a research note on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $117.91.

monday.com Stock Up 9.7%

MNDY stock opened at $94.29 on Wednesday. monday.com has a twelve month low of $57.50 and a twelve month high of $220.80. The company has a market cap of $4.82 billion, a P/E ratio of 40.12, a PEG ratio of 2.17 and a beta of 1.24. The business has a fifty day moving average of $80.67 and a 200-day moving average of $78.52.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.37. The business had revenue of $364.62 million for the quarter, compared to analysts' expectations of $355.55 million. monday.com had a return on equity of 8.10% and a net margin of 8.87%.The firm's quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.09 earnings per share. As a group, equities research analysts anticipate that monday.com will post 2.09 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Plato Investment Management Ltd acquired a new stake in shares of monday.com in the 2nd quarter valued at about $432,000. S&CO Inc. acquired a new position in shares of monday.com during the second quarter worth about $786,000. Fulton Bank N.A. grew its stake in shares of monday.com by 5.1% during the 2nd quarter. Fulton Bank N.A. now owns 3,339 shares of the company's stock worth $242,000 after acquiring an additional 162 shares in the last quarter. Evanson Financial LLC bought a new position in monday.com in the second quarter valued at $219,000. Finally, AMS Capital Ltda grew its holdings in shares of monday.com by 144.4% in the 1st quarter. AMS Capital Ltda now owns 67,172 shares of the company's stock valued at $4,642,000 after acquiring an additional 39,692 shares in the last quarter. Institutional investors own 73.70% of the company's stock.

About monday.com

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com's visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company's product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.

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