monday.com (NASDAQ:MNDY) Upgraded at Scotiabank

monday.com (NASDAQ:MNDY) was upgraded by equities researchers at Scotiabank to a “strong-buy” rating in a note issued to investors on Monday,Zacks.com reports.

Other equities research analysts have also issued reports about the stock. DA Davidson reissued a “neutral” rating and issued a $300.00 target price on shares of monday.com in a report on Tuesday, November 12th. Canaccord Genuity Group lifted their target price on shares of monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price objective on monday.com from $270.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. UBS Group increased their target price on monday.com from $240.00 to $280.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Finally, Needham & Company LLC upped their price target on monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, monday.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $310.81.

monday.com Stock Performance

monday.com stock opened at $257.02 on Monday. monday.com has a one year low of $168.28 and a one year high of $324.99. The stock has a fifty day moving average of $281.02 and a 200 day moving average of $249.95. The stock has a market cap of $12.41 billion, a PE ratio of 626.88, a price-to-earnings-growth ratio of 12.26 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, November 11th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The firm had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The business’s revenue for the quarter was up 49.5% compared to the same quarter last year. As a group, sell-side analysts predict that monday.com will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On monday.com

Hedge funds and other institutional investors have recently modified their holdings of the business. Bessemer Group Inc. bought a new stake in monday.com during the first quarter valued at about $1,314,000. China Universal Asset Management Co. Ltd. purchased a new stake in monday.com during the third quarter valued at approximately $1,667,000. International Assets Investment Management LLC acquired a new stake in monday.com in the third quarter valued at approximately $21,989,000. Taylor Frigon Capital Management LLC purchased a new position in monday.com in the third quarter worth $1,311,000. Finally, Quent Capital LLC acquired a new position in shares of monday.com during the first quarter worth $565,000. 73.70% of the stock is currently owned by institutional investors.

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.