monday.com (NASDAQ:MNDY) Shares Up 6% – Time to Buy?
by Sarita Garza · The Markets Dailymonday.com Ltd. (NASDAQ:MNDY – Get Free Report)’s share price shot up 6% on Thursday . The stock traded as high as $81.85 and last traded at $80.5550. 922,736 shares were traded during trading, a decline of 67% from the average session volume of 2,832,532 shares. The stock had previously closed at $76.03.
Wall Street Analysts Forecast Growth
A number of equities analysts have issued reports on MNDY shares. Guggenheim cut their target price on monday.com from $250.00 to $180.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Jefferies Financial Group downgraded shares of monday.com from a “buy” rating to a “hold” rating and dropped their target price for the stock from $260.00 to $80.00 in a research report on Monday, February 23rd. DA Davidson set a $100.00 price target on monday.com in a research note on Tuesday, February 10th. Zacks Research upgraded monday.com from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, Piper Sandler decreased their price objective on shares of monday.com from $170.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $155.38.
Get Our Latest Report on monday.com
monday.com Trading Up 4.2%
The firm’s 50-day simple moving average is $110.56 and its 200 day simple moving average is $153.86. The stock has a market cap of $4.02 billion, a P/E ratio of 35.20, a PEG ratio of 1.36 and a beta of 1.31.
monday.com (NASDAQ:MNDY – Get Free Report) last issued its quarterly earnings data on Monday, February 9th. The company reported $1.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.13. monday.com had a return on equity of 4.80% and a net margin of 9.64%.The business had revenue of $333.88 million during the quarter, compared to the consensus estimate of $329.71 million. During the same period in the previous year, the firm posted $1.08 earnings per share. The business’s revenue was up 24.6% on a year-over-year basis. On average, analysts anticipate that monday.com Ltd. will post 0.46 EPS for the current year.
Institutional Investors Weigh In On monday.com
A number of hedge funds and other institutional investors have recently modified their holdings of MNDY. NewEdge Advisors LLC lifted its holdings in shares of monday.com by 2,120.0% in the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after purchasing an additional 106 shares in the last quarter. Advisory Services Network LLC purchased a new stake in monday.com in the 3rd quarter worth about $28,000. Quarry LP acquired a new stake in shares of monday.com during the fourth quarter worth approximately $29,000. Abound Wealth Management purchased a new position in shares of monday.com during the 4th quarter valued at $30,000. Finally, Promus Capital LLC acquired a new position in monday.com in the 2nd quarter worth about $45,000. 73.70% of the stock is currently owned by institutional investors.
About monday.com
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.