JPMorgan Chase & Co. Issues Positive Forecast for monday.com (NASDAQ:MNDY) Stock Price

monday.com (NASDAQ:MNDY) had its target price increased by JPMorgan Chase & Co. from $350.00 to $400.00 in a research note published on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other research analysts also recently issued research reports about the company. Wells Fargo & Company boosted their price target on monday.com from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Tuesday. DA Davidson restated a “neutral” rating and set a $300.00 price target on shares of monday.com in a report on Tuesday, November 12th. William Blair reaffirmed an “outperform” rating on shares of monday.com in a research report on Wednesday, December 18th. Jefferies Financial Group cut their price objective on monday.com from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Tuesday, January 21st. Finally, Piper Sandler lifted their price objective on monday.com from $345.00 to $385.00 and gave the company an “overweight” rating in a research report on Monday. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $353.32.

monday.com Price Performance

Shares of NASDAQ:MNDY opened at $327.92 on Tuesday. monday.com has a 1 year low of $174.75 and a 1 year high of $342.64. The company has a market cap of $15.83 billion, a PE ratio of 799.80, a P/E/G ratio of 7.67 and a beta of 1.31. The stock’s 50-day moving average is $251.31 and its 200 day moving average is $262.68.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.50 earnings per share (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%. Analysts expect that monday.com will post 0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On monday.com

Hedge funds and other institutional investors have recently modified their holdings of the stock. Stonebridge Financial Group LLC purchased a new stake in shares of monday.com in the 4th quarter worth $25,000. Arcadia Investment Management Corp MI purchased a new stake in shares of monday.com in the 4th quarter worth $28,000. R Squared Ltd purchased a new stake in shares of monday.com in the 4th quarter worth $33,000. Signaturefd LLC increased its stake in shares of monday.com by 157.1% in the 4th quarter. Signaturefd LLC now owns 144 shares of the company’s stock worth $34,000 after purchasing an additional 88 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in shares of monday.com by 64.8% in the 4th quarter. Global Retirement Partners LLC now owns 150 shares of the company’s stock worth $35,000 after purchasing an additional 59 shares in the last quarter. 73.70% of the stock is currently owned by hedge funds and other 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.