monday.com (NASDAQ:MNDY – Get Free Report) posted its earnings results on Monday. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.37, FiscalAI reports. monday.com had a net margin of 9.17% and a return on equity of 5.10%. The firm had revenue of $364.62 million for the quarter, compared to analyst estimates of $355.55 million.
monday.com Stock Performance
Shares of NASDAQ MNDY opened at $93.13 on Monday. The company’s 50 day moving average price is $80.75 and its 200-day moving average price is $79.61. monday.com has a 52-week low of $57.50 and a 52-week high of $252.86. The company has a market capitalization of $4.76 billion, a P/E ratio of 40.49, a price-to-earnings-growth ratio of 4.66 and a beta of 1.24.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on MNDY. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $112.00 price target on shares of monday.com in a research note on Monday, August 3rd. Jefferies Financial Group reissued a “hold” rating on shares of monday.com in a research note on Tuesday, May 12th. Tigress Financial decreased their price objective on monday.com to $165.00 and set a “buy” rating for the company in a report on Friday, May 22nd. TD Cowen raised their target price on monday.com from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, Oppenheimer set a $115.00 target price on monday.com in a report on Monday, May 11th. Seventeen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, monday.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.78.
Hedge Funds Weigh In On monday.com
A number of hedge funds have recently bought and sold shares of the company. NewEdge Advisors LLC boosted its position in monday.com by 2,120.0% during the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after acquiring an additional 106 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of monday.com in the 3rd quarter worth about $28,000. Quarry LP bought a new position in shares of monday.com in the 4th quarter worth about $29,000. EverSource Wealth Advisors LLC lifted its stake in shares of monday.com by 76.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $47,000 after purchasing an additional 65 shares during the period. Finally, Empowered Funds LLC acquired a new position in shares of monday.com in the 4th quarter valued at about $50,000. Institutional investors own 73.70% of the company’s stock.
monday.com Company Profile
monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.
The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.
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