Monday.com Ltd (NASDAQ: MNDY) is trading higher Wednesday after several analyst firms maintained bullish ratings on the stock and raised price targets following the company's better-than-expected second-quarter financial results.
Monday.com reported a quarterly earnings loss of 26 cents per share, which beat the estimate for a loss of $1 per share. The company reported quarterly revenue of $70.6 million, which beat the estimate of $62.11 million.
Analyst Assessment: Needham analyst Scott Berg maintained Monday.com with a Buy rating and raised the price target from $265 to $350.
Oppenheimer analyst Patrick Trucchio maintained Monday.com with an Outperform rating and raised the price target from $260 to $340.
Canaccord Genuity analyst David Hynes maintained Monday.com with a Buy rating and raised the price target from $275 to $330.
Monday.com operates a project management tool that enables organizations to manage tasks, projects and teamwork.
Price Action: Monday.com is making a new 52-week high in trading today.
At last check Wednesday, the stock was up 10.70% at $337.73.
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