monday.com (NASDAQ:MNDY) Shares Gap Up – Here’s What Happened

monday.com Ltd. (NASDAQ:MNDY) shares gapped up prior to trading on Wednesday . The stock had previously closed at $72.39, but opened at $75.35. monday.com shares last traded at $77.8340, with a volume of 140,792 shares.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MNDY. Barclays upped their price target on shares of monday.com from $95.00 to $100.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 12th. UBS Group cut their target price on shares of monday.com from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. BTIG Research reduced their target price on shares of monday.com from $135.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Zacks Research cut shares of monday.com from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Finally, Tigress Financial decreased their price target on shares of monday.com to $165.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. Seventeen analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $126.48.

monday.com Price Performance

The company’s 50-day simple moving average is $75.30 and its 200-day simple moving average is $91.83. The company has a market cap of $3.93 billion, a price-to-earnings ratio of 33.38, a P/E/G ratio of 3.68 and a beta of 1.24.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Friday, March 13th. The company reported $1.15 earnings per share (EPS) for the quarter. monday.com had a net margin of 9.17% and a return on equity of 5.10%. The company had revenue of $351.26 million for the quarter. Equities analysts predict that monday.com Ltd. will post 1.59 EPS for the current fiscal year.

Institutional Investors Weigh In On monday.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. AMS Capital Ltda grew its stake in shares of monday.com by 144.4% during the first quarter. AMS Capital Ltda now owns 67,172 shares of the company’s stock valued at $4,642,000 after acquiring an additional 39,692 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of monday.com by 4,194.6% in the first quarter. Empowered Funds LLC now owns 14,430 shares of the company’s stock worth $997,000 after acquiring an additional 14,094 shares in the last quarter. Bank of America Corp DE boosted its holdings in monday.com by 33.6% in the first quarter. Bank of America Corp DE now owns 194,635 shares of the company’s stock valued at $13,451,000 after purchasing an additional 49,002 shares during the last quarter. Arkadios Wealth Advisors purchased a new position in monday.com in the first quarter valued at about $1,534,000. Finally, EverSource Wealth Advisors LLC grew its stake in monday.com by 498.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock valued at $29,000 after purchasing an additional 354 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

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.