monday.com (NASDAQ:MNDY) Sets New 1-Year High After Analyst Upgrade

monday.com Ltd. (NASDAQ:MNDY) shares hit a new 52-week high during trading on Monday after The Goldman Sachs Group raised their price target on the stock from $350.00 to $400.00. The Goldman Sachs Group currently has a buy rating on the stock. monday.com traded as high as $334.30 and last traded at $332.76, with a volume of 1742926 shares traded. The stock had previously closed at $258.24.

MNDY has been the topic of a number of other reports. Cantor Fitzgerald raised their price target on monday.com from $292.00 to $380.00 and gave the company an “overweight” rating in a report on Tuesday. Scotiabank raised their target price on monday.com from $300.00 to $400.00 and gave the company a “sector outperform” rating in a research note on Tuesday. Canaccord Genuity Group lifted their price target on shares of monday.com from $310.00 to $375.00 and gave the stock a “buy” rating in a research report on Tuesday. Needham & Company LLC boosted their price objective on monday.com from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday. Finally, DA Davidson boosted their target price on shares of monday.com from $300.00 to $350.00 and gave the company a “neutral” rating in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $353.32.

Institutional Trading of monday.com

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC grew its holdings in monday.com by 112.0% during the third quarter. FMR LLC now owns 1,512,094 shares of the company’s stock valued at $420,014,000 after purchasing an additional 798,791 shares during the last quarter. Jennison Associates LLC increased its stake in monday.com by 13.7% during the fourth quarter. Jennison Associates LLC now owns 830,811 shares of the company’s stock valued at $195,606,000 after acquiring an additional 100,333 shares during the period. Westfield Capital Management Co. LP increased its position in shares of monday.com by 2.4% during the third quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company’s stock valued at $166,767,000 after purchasing an additional 14,304 shares during the period. State Street Corp increased its holdings in monday.com by 3.8% in the 3rd quarter. State Street Corp now owns 587,879 shares of the company’s stock valued at $163,295,000 after buying an additional 21,585 shares during the period. Finally, Two Sigma Advisers LP raised its position in monday.com by 2.9% in the third quarter. Two Sigma Advisers LP now owns 540,300 shares of the company’s stock worth $150,079,000 after purchasing an additional 15,300 shares in the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Trading Up 0.4 %

The firm has a market capitalization of $15.83 billion, a price-to-earnings ratio of 799.80, a PEG ratio of 7.67 and a beta of 1.31. The stock has a fifty day moving average price of $251.31 and a 200-day moving average price of $262.68.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, February 10th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a return on equity of 4.99% and a net margin of 2.39%. On average, equities analysts expect that monday.com Ltd. will post 0.85 EPS for the current year.

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.