Wells Fargo & Company Issues Positive Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its price objective boosted by Wells Fargo & Company from $315.00 to $330.00 in a report issued on Monday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other research firms also recently commented on MNDY. Loop Capital boosted their price target on shares of monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Barclays boosted their price objective on monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Robert W. Baird raised their target price on shares of monday.com from $250.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Needham & Company LLC reiterated a “buy” rating and set a $300.00 price target on shares of monday.com in a report on Thursday, September 26th. Finally, Oppenheimer raised 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. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $306.10.

monday.com Trading Up 6.4 %

MNDY opened at $316.03 on Monday. The stock’s 50-day moving average price is $275.43 and its 200 day moving average price is $243.37. monday.com has a 12-month low of $133.20 and a 12-month high of $316.39. The firm has a market cap of $15.26 billion, a price-to-earnings ratio of 395.04, a PEG ratio of 13.88 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.23. The business had revenue of $236.11 million for the quarter, compared to analysts’ expectations of $227.96 million. monday.com had a net margin of 4.88% and a return on equity of 4.74%. On average, research analysts forecast that monday.com will post 0.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of MNDY. Allspring Global Investments Holdings LLC grew its position in monday.com by 4,419.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 60,104 shares of the company’s stock valued at $13,576,000 after buying an additional 58,774 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in monday.com by 18.0% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 56,500 shares of the company’s stock valued at $12,762,000 after purchasing an additional 8,636 shares during the period. Commonwealth Equity Services LLC boosted its holdings in monday.com by 21.8% in the 1st quarter. Commonwealth Equity Services LLC now owns 3,213 shares of the company’s stock valued at $726,000 after purchasing an additional 575 shares in the last quarter. Van ECK Associates Corp increased its position in monday.com by 4.7% during the 1st quarter. Van ECK Associates Corp now owns 8,764 shares of the company’s stock worth $1,980,000 after purchasing an additional 391 shares during the period. Finally, Norden Group LLC acquired a new stake in shares of monday.com in the 1st quarter valued at approximately $840,000. 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.