monday.com (NASDAQ:MNDY) Price Target Raised to $375.00 at Canaccord Genuity Group

monday.com (NASDAQ:MNDY) had its price target raised by equities researchers at Canaccord Genuity Group from $310.00 to $375.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective indicates a potential upside of 14.80% from the stock’s current price.

Other equities research analysts have also recently issued research reports about the company. William Blair reiterated an “outperform” rating on shares of monday.com in a research note on Wednesday, December 18th. Cantor Fitzgerald initiated coverage on shares of monday.com in a research note on Friday, January 17th. They set an “overweight” rating and a $292.00 price target for the company. Robert W. Baird lifted their price objective on shares of monday.com from $275.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday. JPMorgan Chase & Co. increased their target price on shares of monday.com from $350.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday. Finally, Oppenheimer boosted their price target on monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $350.59.

monday.com Price Performance

Shares of monday.com stock traded up $0.09 during trading hours on Tuesday, hitting $326.67. The company had a trading volume of 529,929 shares, compared to its average volume of 1,137,157. The company’s 50-day moving average is $250.37 and its two-hundred day moving average is $262.04. monday.com has a twelve month low of $174.75 and a twelve month high of $342.64. The company has a market cap of $15.77 billion, a P/E ratio of 796.22, a price-to-earnings-growth ratio of 7.67 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.50 earnings per share (EPS) 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%. Sell-side analysts expect that monday.com will post 0.85 EPS for the current year.

Institutional Investors Weigh In On monday.com

A number of hedge funds and other institutional investors have recently made changes to their positions in MNDY. Magnetar Financial LLC purchased a new position in monday.com during the fourth quarter worth about $222,000. Teacher Retirement System of Texas increased its position in monday.com by 138.4% during the fourth quarter. Teacher Retirement System of Texas now owns 9,992 shares of the company’s stock worth $2,353,000 after purchasing an additional 5,800 shares during the last quarter. Vinva Investment Management Ltd purchased a new position in monday.com during the fourth quarter worth approximately $804,000. Andar Capital Management HK Ltd acquired a new position in shares of monday.com in the 4th quarter valued at $2,373,000. Finally, Signaturefd LLC grew its stake in shares of 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 buying an additional 88 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.