Morgan Stanley Begins Coverage on monday.com (NASDAQ:MNDY)

Investment analysts at Morgan Stanley started coverage on shares of monday.com (NASDAQ:MNDY) in a report released on Tuesday,Briefing.com Automated Import reports. The brokerage set an “equal weight” rating and a $330.00 price target on the stock. Morgan Stanley’s target price points to a potential upside of 13.98% from the stock’s previous close.

A number of other equities research analysts have also recently issued reports on MNDY. Loop Capital lowered their price objective on monday.com from $385.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Wells Fargo & Company set a $365.00 price target on shares of monday.com and gave the company an “overweight” rating in a research report on Friday. Tigress Financial upped their price target on shares of monday.com from $340.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Piper Sandler lifted their price objective on shares of monday.com from $305.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, May 12th. Finally, JPMorgan Chase & Co. lowered their target price on shares of monday.com from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Four equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, monday.com presently has an average rating of “Moderate Buy” and an average price target of $347.09.

monday.com Stock Performance

Shares of MNDY stock opened at $289.53 on Tuesday. The company has a market capitalization of $14.70 billion, a price-to-earnings ratio of 482.55, a PEG ratio of 16.53 and a beta of 1.30. monday.com has a 52-week low of $188.01 and a 52-week high of $342.64. The company has a 50-day simple moving average of $279.09 and a two-hundred day simple moving average of $266.91.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.40. The company had revenue of $282.25 million during the quarter, compared to analyst estimates of $275.93 million. monday.com had a return on equity of 6.22% and a net margin of 3.33%. monday.com’s quarterly revenue was up 30.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 earnings per share. On average, sell-side analysts forecast that monday.com will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On monday.com

A number of large investors have recently modified their holdings of the company. FMR LLC boosted its stake in monday.com by 78.7% in the fourth quarter. FMR LLC now owns 2,701,952 shares of the company’s stock worth $636,147,000 after buying an additional 1,189,858 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of monday.com by 102.5% in the 1st quarter. JPMorgan Chase & Co. now owns 1,682,013 shares of the company’s stock worth $408,999,000 after acquiring an additional 851,231 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of monday.com by 45.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,401,580 shares of the company’s stock valued at $583,969,000 after purchasing an additional 745,686 shares in the last quarter. Rubicon Global Capital Ltd bought a new position in shares of monday.com during the 1st quarter valued at $137,434,000. Finally, Norges Bank bought a new position in shares of monday.com during the 4th quarter valued at $116,686,000. 73.70% of the stock is owned by hedge funds and other institutional investors.

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.