monday.com (NASDAQ:MNDY) Trading 4.7% Higher – Time to Buy?

Shares of monday.com Ltd. (NASDAQ:MNDY) were up 4.7% during mid-day trading on Tuesday . The stock traded as high as $86.68 and last traded at $87.2090. Approximately 113,523 shares changed hands during trading, a decline of 94% from the average daily volume of 1,978,469 shares. The stock had previously closed at $83.33.

Analyst Ratings Changes

Several analysts have recently weighed in on MNDY shares. Citigroup reduced their target price on monday.com from $154.00 to $132.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Wolfe Research downgraded monday.com from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 11th. Capital One Financial cut monday.com from an “overweight” rating to an “equal weight” rating and set a $95.00 price objective for the company. in a research note on Monday, August 10th. Zacks Research raised monday.com from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Finally, TD Cowen restated a “buy” rating and set a $110.00 target price on shares of monday.com in a research report on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $117.91.

monday.com Price Performance

The firm has a market cap of $4.50 billion, a price-to-earnings ratio of 37.40, a P/E/G ratio of 2.21 and a beta of 1.24. The firm’s 50 day moving average price is $80.69 and its two-hundred day moving average price is $77.92.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.37. monday.com had a return on equity of 9.09% and a net margin of 8.87%.The firm had revenue of $364.62 million for the quarter, compared to analysts’ expectations of $355.55 million. During the same quarter in the previous year, the firm posted $1.09 EPS. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. On average, analysts anticipate that monday.com Ltd. will post 2.09 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

Several hedge funds have recently modified their holdings of the stock. Public Employees Retirement System of Ohio purchased a new position in monday.com in the 2nd quarter valued at $970,000. Plato Investment Management Ltd acquired a new stake in shares of monday.com in the 2nd quarter worth $432,000. S&CO Inc. acquired a new stake in shares of monday.com in the 2nd quarter worth $786,000. Fulton Bank N.A. boosted its holdings in shares of monday.com by 5.1% in the second quarter. Fulton Bank N.A. now owns 3,339 shares of the company’s stock valued at $242,000 after acquiring an additional 162 shares in the last quarter. Finally, Evanson Financial LLC acquired a new position in shares of monday.com during the second quarter worth about $219,000. 73.70% of the stock is owned by institutional investors and hedge funds.

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.