The Goldman Sachs Group Forecasts Strong Price Appreciation for monday.com (NASDAQ:MNDY) Stock

monday.com (NASDAQ:MNDY) had its price target boosted by stock analysts at The Goldman Sachs Group from $350.00 to $400.00 in a report released on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 22.03% from the company’s current price.

Several other equities research analysts have also issued reports on the stock. KeyCorp raised shares of monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 target price for the company in a report on Tuesday. Jefferies Financial Group upped their price objective on monday.com from $300.00 to $400.00 and gave the stock a “buy” rating in a research note on Tuesday. Cantor Fitzgerald lifted their target price on monday.com from $292.00 to $380.00 and gave the company an “overweight” rating in a research note on Tuesday. Oppenheimer increased their price objective on shares of monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Citigroup upgraded shares of monday.com from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $302.00 to $298.00 in a research report on Thursday, January 16th. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $353.32.

monday.com Trading Up 0.4 %

MNDY stock traded up $1.20 on Tuesday, hitting $327.78. The company had a trading volume of 655,800 shares, compared to its average volume of 1,147,016. The stock has a market cap of $15.83 billion, a price-to-earnings ratio of 799.47, a P/E/G ratio of 7.67 and a beta of 1.31. The stock’s 50-day simple moving average is $250.37 and its 200 day simple moving average is $262.04. monday.com has a 12-month low of $174.75 and a 12-month high of $342.64.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data 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%. Research analysts forecast that monday.com will post 0.85 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of MNDY. Stonebridge Financial Group LLC purchased a new stake in shares of monday.com during the fourth quarter valued at $25,000. Arcadia Investment Management Corp MI purchased a new stake in monday.com during the 4th quarter valued at about $28,000. R Squared Ltd purchased a new stake in monday.com in the fourth quarter valued at approximately $33,000. Signaturefd LLC lifted its stake in monday.com by 157.1% during the 4th quarter. Signaturefd LLC now owns 144 shares of the company’s stock valued at $34,000 after acquiring an additional 88 shares during the period. Finally, Global Retirement Partners LLC lifted its position in monday.com by 64.8% during the fourth quarter. Global Retirement Partners LLC now owns 150 shares of the company’s stock valued at $35,000 after purchasing an additional 59 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.