monday.com (NASDAQ:MNDY) Trading 6.2% Higher – Should You Buy?

monday.com Ltd. (NASDAQ:MNDY)’s stock price traded up 6.2% on Tuesday . The stock traded as high as $260.72 and last traded at $261.11. 201,640 shares changed hands during trading, a decline of 77% from the average session volume of 890,584 shares. The stock had previously closed at $245.97.

Analyst Ratings Changes

A number of brokerages recently issued reports on MNDY. Piper Sandler decreased their price objective on shares of monday.com from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Loop Capital cut their price objective on shares of monday.com from $310.00 to $300.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. Robert W. Baird raised their price target on shares of monday.com from $270.00 to $275.00 and gave the stock a “neutral” rating in a research note on Tuesday, January 21st. Needham & Company LLC raised their price objective on shares of monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company raised their price target on monday.com from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday, January 21st. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $310.68.

monday.com Stock Performance

The firm has a market capitalization of $11.68 billion, a price-to-earnings ratio of 589.90, a P/E/G ratio of 6.29 and a beta of 1.30. The business’s 50-day moving average is $253.86 and its two-hundred day moving average is $260.13.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The company had revenue of $251.00 million during the quarter, compared to the consensus estimate of $246.17 million. During the same quarter last year, the firm earned $0.15 earnings per share. The company’s revenue was up 49.5% on a year-over-year basis. Analysts forecast that monday.com Ltd. will post 0.85 EPS for the current year.

Hedge Funds Weigh In On monday.com

Several institutional investors have recently added to or reduced their stakes in the stock. FMR LLC raised its position in shares of monday.com by 112.0% in the third quarter. FMR LLC now owns 1,512,094 shares of the company’s stock worth $420,014,000 after buying an additional 798,791 shares in the last quarter. Jennison Associates LLC increased its position in shares of monday.com by 13.7% in the fourth quarter. Jennison Associates LLC now owns 830,811 shares of the company’s stock valued at $195,606,000 after acquiring an additional 100,333 shares during the period. Westfield Capital Management Co. LP lifted its stake in monday.com by 2.4% in the third quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company’s stock worth $166,767,000 after acquiring an additional 14,304 shares during the period. State Street Corp raised its stake in monday.com by 3.8% in the third quarter. State Street Corp now owns 587,879 shares of the company’s stock worth $163,295,000 after buying an additional 21,585 shares in the last quarter. Finally, Two Sigma Advisers LP lifted its stake in shares of monday.com by 2.9% in the 3rd quarter. Two Sigma Advisers LP now owns 540,300 shares of the company’s stock valued at $150,079,000 after purchasing an additional 15,300 shares during the period. Institutional investors own 73.70% of the company’s stock.

monday.com Company Profile

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.