monday.com (NASDAQ:MNDY) Rating Increased to Buy at Citigroup

Citigroup upgraded shares of monday.com (NASDAQ:MNDY) from a neutral rating to a buy rating in a report issued on Thursday morning, MarketBeat.com reports. Citigroup currently has $298.00 price objective on the stock, down from their prior price objective of $302.00.

Several other equities research analysts have also recently issued reports on MNDY. Wells Fargo & Company lifted their target price on monday.com from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Barclays lifted their target price on monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Capital One Financial started coverage on monday.com in a research note on Thursday, October 10th. They set an “overweight” rating and a $325.00 price objective on the stock. TD Cowen boosted their price objective on monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Finally, KeyCorp cut monday.com from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat.com, monday.com has an average rating of “Moderate Buy” and an average target price of $311.40.

monday.com Stock Up 2.8 %

NASDAQ:MNDY opened at $240.61 on Thursday. The business’s 50-day simple moving average is $259.22 and its two-hundred day simple moving average is $259.49. The stock has a market cap of $11.62 billion, a PE ratio of 586.85, a P/E/G ratio of 5.41 and a beta of 1.30. monday.com has a 52 week low of $174.75 and a 52 week high of $324.99.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The firm had revenue of $251.00 million for the quarter, compared to analysts’ expectations of $246.17 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The business’s revenue was up 49.5% compared to the same quarter last year. Sell-side analysts anticipate that monday.com will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of monday.com

A number of large investors have recently modified their holdings of MNDY. Mirae Asset Global Investments Co. Ltd. purchased a new stake in monday.com during the third quarter worth $43,000. Toronto Dominion Bank purchased a new stake in monday.com during the second quarter worth $120,000. Vestcor Inc lifted its holdings in monday.com by 31.4% during the third quarter. Vestcor Inc now owns 519 shares of the company’s stock worth $144,000 after buying an additional 124 shares during the period. Larson Financial Group LLC lifted its holdings in monday.com by 645.7% during the third quarter. Larson Financial Group LLC now owns 604 shares of the company’s stock worth $168,000 after buying an additional 523 shares during the period. Finally, Northwest & Ethical Investments L.P. lifted its holdings in monday.com by 18.2% during the third quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company’s stock worth $181,000 after buying an additional 100 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

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.