monday.com (NASDAQ:MNDY) Stock Price Up 8.3% – Time to Buy?

Shares of monday.com Ltd. (NASDAQ:MNDY) rose 8.3% on Thursday . The company traded as high as $99.86 and last traded at $100.2650. 172,157 shares were traded during trading, a decline of 91% from the average session volume of 1,942,854 shares. The stock had previously closed at $92.55.

Analysts Set New Price Targets

Several analysts have commented on MNDY shares. Canaccord Genuity Group cut their target price on monday.com from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Cantor Fitzgerald downgraded shares of monday.com from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $112.00 to $90.00 in a research report on Monday, August 10th. TD Cowen reiterated a “buy” rating and set a $110.00 price objective on shares of monday.com in a research note on Tuesday, August 11th. Tigress Financial lowered their price objective on monday.com to $165.00 and set a “buy” rating on the stock in a research report on Friday, May 22nd. Finally, Citigroup dropped their target price on shares of monday.com from $154.00 to $132.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. One 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 given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $117.91.

monday.com Price Performance

The firm has a 50-day moving average price of $83.69 and a two-hundred day moving average price of $77.19. The firm has a market capitalization of $5.15 billion, a P/E ratio of 42.86, a P/E/G ratio of 2.33 and a beta of 1.24.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.37. The business had revenue of $364.62 million during the quarter, compared to analyst estimates of $355.55 million. monday.com had a return on equity of 9.09% and a net margin of 8.87%.monday.com’s revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 EPS. Sell-side analysts predict that monday.com Ltd. will post 2.25 earnings per share for the current fiscal year.

Institutional Trading of monday.com

Hedge funds have recently modified their holdings of the company. NewEdge Advisors LLC grew its holdings in monday.com by 2,120.0% in the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares during the last quarter. Advisory Services Network LLC purchased a new position in shares of monday.com during the 3rd quarter valued at approximately $28,000. EverSource Wealth Advisors LLC raised its position in shares of monday.com by 76.5% in the second quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock worth $47,000 after acquiring an additional 65 shares during the period. Quarry LP acquired a new stake in monday.com in the fourth quarter valued at approximately $29,000. Finally, Huntington National Bank grew its stake in monday.com by 6,040.0% in the 4th quarter. Huntington National Bank now owns 307 shares of the company’s stock valued at $45,000 after acquiring an additional 302 shares during the period. 73.70% of the stock is owned by hedge funds and other institutional investors.

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.