monday.com (NASDAQ:MNDY) Now Covered by Scotiabank

Scotiabank began coverage on shares of monday.com (NASDAQ:MNDY) in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage issued a sector outperform rating and a $325.00 price objective on the stock.

MNDY has been the subject of a number of other research reports. Piper Sandler raised their price target on shares of monday.com from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Canaccord Genuity Group boosted their target price on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Loop Capital raised their price target on monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Capital One Financial initiated coverage on monday.com in a report on Thursday, October 10th. They set an “overweight” rating and a $325.00 price objective for the company. Finally, Bank of America raised their target price on shares of monday.com from $280.00 to $300.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat, monday.com presently has a consensus rating of “Moderate Buy” and an average price target of $310.81.

monday.com Stock Performance

Shares of MNDY opened at $257.02 on Tuesday. The company has a market cap of $12.41 billion, a price-to-earnings ratio of 626.88, a PEG ratio of 12.26 and a beta of 1.31. The stock has a fifty day moving average price of $281.02 and a two-hundred day moving average price of $249.95. monday.com has a 52-week low of $168.28 and a 52-week high of $324.99.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping 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 business had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. During the same quarter in the prior year, the company earned $0.15 EPS. The firm’s quarterly revenue was up 49.5% on a year-over-year basis. As a group, research analysts predict that monday.com will post 0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bessemer Group Inc. acquired a new stake in shares of monday.com during the first quarter worth about $1,314,000. China Universal Asset Management Co. Ltd. acquired a new stake in monday.com during the 3rd quarter worth approximately $1,667,000. International Assets Investment Management LLC bought a new position in monday.com in the third quarter valued at approximately $21,989,000. Taylor Frigon Capital Management LLC bought a new position in monday.com in the third quarter valued at approximately $1,311,000. Finally, Quent Capital LLC bought a new stake in shares of monday.com during the first quarter worth $565,000. 73.70% of the stock is owned by institutional investors and hedge funds.

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.