Canaccord Genuity Group Forecasts Strong Price Appreciation for monday.com (NASDAQ:MNDY) Stock

monday.com (NASDAQ:MNDYGet Free Report) had its target price hoisted by equities researchers at Canaccord Genuity Group from $310.00 to $375.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price target would suggest a potential upside of 18.02% from the stock’s previous close.

MNDY has been the subject of several other research reports. Jefferies Financial Group boosted their price target on shares of monday.com from $300.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday. Wells Fargo & Company increased their price target on monday.com from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Tuesday. William Blair reiterated an “outperform” rating on shares of monday.com in a report on Wednesday, December 18th. Robert W. Baird increased their target price on monday.com from $275.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Piper Sandler raised their target price on shares of monday.com from $345.00 to $385.00 and gave the stock an “overweight” rating in a report on Monday. Four equities research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $353.32.

Check Out Our Latest Research Report on monday.com

monday.com Trading Down 3.1 %

NASDAQ MNDY opened at $317.73 on Tuesday. monday.com has a 12 month low of $174.75 and a 12 month high of $342.64. The stock has a 50-day simple moving average of $251.81 and a 200 day simple moving average of $263.06. The company has a market capitalization of $15.34 billion, a PE ratio of 774.95, a P/E/G ratio of 7.67 and a beta of 1.31.

monday.com (NASDAQ:MNDYGet Free Report) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a net margin of 2.39% and a return on equity of 4.99%. As a group, sell-side analysts predict that monday.com will post 0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

A number of institutional investors have recently bought and sold shares of MNDY. Sanctuary Advisors LLC acquired a new stake in shares of monday.com during the 2nd quarter worth about $285,000. Inspire Investing LLC acquired a new stake in monday.com during the third quarter worth approximately $870,000. Sapient Capital LLC bought a new stake in shares of monday.com during the third quarter worth approximately $1,282,000. Chicago Capital LLC grew its position in shares of monday.com by 18.9% in the third quarter. Chicago Capital LLC now owns 1,795 shares of the company’s stock valued at $499,000 after purchasing an additional 285 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of monday.com by 431.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock worth $107,176,000 after purchasing an additional 313,279 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Company Profile

(Get Free Report)

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.

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