monday.com (NASDAQ:MNDY) Shares Up 6.6% – Should You Buy?

monday.com Ltd. (NASDAQ:MNDY)’s share price traded up 6.6% during mid-day trading on Monday . The company traded as high as $75.75 and last traded at $76.7230. 248,470 shares traded hands during mid-day trading, a decline of 89% from the average session volume of 2,203,902 shares. The stock had previously closed at $71.97.

Analyst Ratings Changes

MNDY has been the subject of a number of research analyst reports. Piper Sandler upped their price objective on shares of monday.com from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Wall Street Zen upgraded shares of monday.com from a “hold” rating to a “buy” rating in a research report on Saturday. DA Davidson set a $100.00 price target on shares of monday.com in a research note on Tuesday, February 10th. Robert W. Baird reiterated a “neutral” rating and set a $90.00 price objective (down from $175.00) on shares of monday.com in a research note on Tuesday, February 10th. Finally, Jefferies Financial Group reissued a “hold” rating on shares of monday.com in a report on Tuesday, May 12th. Seventeen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.78.

monday.com Trading Up 7.7%

The stock’s fifty day simple moving average is $70.27 and its 200 day simple moving average is $111.47. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 33.73, a P/E/G ratio of 3.12 and a beta of 1.17.

monday.com (NASDAQ:MNDY) last issued its earnings results on Friday, March 13th. The company reported $1.15 earnings per share for the quarter. monday.com had a return on equity of 5.10% and a net margin of 9.17%.The business had revenue of $351.27 million for the quarter. On average, analysts predict that monday.com Ltd. will post 1.83 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Capital World Investors lifted its stake in shares of monday.com by 91.4% in the 4th quarter. Capital World Investors now owns 3,286,461 shares of the company’s stock valued at $484,950,000 after purchasing an additional 1,569,198 shares during the last quarter. Renaissance Technologies LLC raised its holdings in monday.com by 93.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock valued at $150,797,000 after buying an additional 1,052,900 shares during the period. Norges Bank acquired a new position in monday.com in the fourth quarter valued at about $79,789,000. SG Americas Securities LLC lifted its position in monday.com by 110.9% in the fourth quarter. SG Americas Securities LLC now owns 932,912 shares of the company’s stock valued at $137,660,000 after buying an additional 490,491 shares during the last quarter. Finally, Baillie Gifford & Co. boosted its stake in monday.com by 136.5% during the third quarter. Baillie Gifford & Co. now owns 708,278 shares of the company’s stock worth $137,186,000 after buying an additional 408,848 shares during the period. 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.