monday.com (NASDAQ:MNDY) Shares Gap Up – What’s Next?

monday.com Ltd. (NASDAQ:MNDY) gapped up before the market opened 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.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on MNDY. Piper Sandler upped their price objective on shares of monday.com from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Citigroup reduced their target price on shares of monday.com from $176.00 to $154.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. BTIG Research decreased 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. UBS Group dropped their price target on shares of monday.com from $93.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Finally, TD Cowen raised their price target on shares of monday.com from $100.00 to $110.00 and gave the stock a “buy” rating in a report on Tuesday, May 12th. Seventeen research 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. Based on data from MarketBeat.com, monday.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $126.48.

monday.com Price Performance

The business has a 50 day simple moving average of $75.70 and a 200 day simple moving average of $90.68. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of 34.68, a PEG ratio of 3.82 and a beta of 1.26.

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

Hedge Funds Weigh In On monday.com

Several institutional investors have recently bought and sold shares of MNDY. NewEdge Advisors LLC lifted its position in shares of monday.com by 2,120.0% during the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares in the last quarter. Advisory Services Network LLC purchased a new stake in monday.com during the 3rd quarter worth approximately $28,000. EverSource Wealth Advisors LLC lifted its holdings in monday.com by 498.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock worth $29,000 after buying an additional 354 shares in the last quarter. Quarry LP acquired a new stake in monday.com during the 4th quarter worth approximately $29,000. Finally, Abound Wealth Management purchased a new position in monday.com in the 4th quarter valued at approximately $30,000. 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.