monday.com (NASDAQ:MNDY) Upgraded to “Strong-Buy” at Scotiabank

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

A number of other research firms have also recently commented on MNDY. JPMorgan Chase & Co. increased their target price on shares of monday.com from $270.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Loop Capital upped their target price on monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Piper Sandler boosted their price target on monday.com from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Baird R W raised shares of monday.com to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Tigress Financial lifted their price objective on shares of monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.81.

monday.com Price Performance

MNDY stock opened at $257.02 on Monday. monday.com has a 1-year low of $168.28 and a 1-year high of $324.99. The business has a 50-day moving average price of $281.02 and a 200 day moving average price of $249.95. The company has a market capitalization of $12.41 billion, a P/E ratio of 626.88, a PEG ratio of 12.26 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.24. The company had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. monday.com’s revenue was up 49.5% compared to the same quarter last year. During the same period last year, the company posted $0.15 earnings per share. On average, analysts anticipate that monday.com will post 0.5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

Several large investors have recently made changes to their positions in the company. Bessemer Group Inc. purchased a new position in monday.com in the first quarter valued at $1,314,000. China Universal Asset Management Co. Ltd. purchased a new position in monday.com during the third quarter worth 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 stake in shares of monday.com in the third quarter valued at approximately $1,311,000. Finally, Quent Capital LLC acquired a new position in shares of monday.com during the 1st quarter worth approximately $565,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

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.