monday.com (NASDAQ:MNDY) Trading Up 6.2% – Time to Buy?

monday.com Ltd. (NASDAQ:MNDY) shot up 6.2% on Tuesday . The company traded as high as $260.72 and last traded at $261.11. 201,640 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 890,584 shares. The stock had previously closed at $245.97.

Analyst Ratings Changes

A number of research firms recently weighed in on MNDY. Piper Sandler decreased their price objective on monday.com from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Cantor Fitzgerald began coverage on monday.com in a report on Friday, January 17th. They issued an “overweight” rating and a $292.00 price objective for the company. Loop Capital decreased their price objective on monday.com from $310.00 to $300.00 and set a “buy” rating for the company in a report on Monday, December 23rd. Scotiabank decreased their price target on monday.com from $325.00 to $300.00 and set a “sector outperform” rating for the company in a report on Thursday, January 16th. Finally, Robert W. Baird increased their price target on monday.com from $270.00 to $275.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, monday.com has an average rating of “Moderate Buy” and a consensus target price of $310.68.

monday.com Trading Up 7.2 %

The firm has a market cap of $12.73 billion, a P/E ratio of 643.21, a PEG ratio of 6.29 and a beta of 1.30. The company’s 50-day moving average is $253.90 and its two-hundred day moving average is $259.97.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, beating 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 analysts’ expectations of $246.17 million. During the same quarter last year, the firm earned $0.15 EPS. The firm’s revenue for the quarter was up 49.5% compared to the same quarter last year. Research analysts anticipate that monday.com Ltd. will post 0.85 EPS for the current fiscal year.

Hedge Funds Weigh In On monday.com

Several hedge funds have recently modified their holdings of the company. FMR LLC lifted its position in shares of monday.com by 112.0% during the 3rd quarter. FMR LLC now owns 1,512,094 shares of the company’s stock worth $420,014,000 after buying an additional 798,791 shares in the last quarter. Jennison Associates LLC lifted its position in shares of monday.com by 13.7% during the 4th quarter. Jennison Associates LLC now owns 830,811 shares of the company’s stock worth $195,606,000 after buying an additional 100,333 shares in the last quarter. Westfield Capital Management Co. LP lifted its position in shares of monday.com by 2.4% during the 3rd quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company’s stock worth $166,767,000 after buying an additional 14,304 shares in the last quarter. State Street Corp lifted its position in shares of monday.com by 3.8% during the 3rd quarter. State Street Corp now owns 587,879 shares of the company’s stock worth $163,295,000 after buying an additional 21,585 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in shares of monday.com by 2.9% during the 3rd quarter. Two Sigma Advisers LP now owns 540,300 shares of the company’s stock worth $150,079,000 after purchasing an additional 15,300 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

About monday.com

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.