monday.com (NASDAQ:MNDY) Stock Price Up 4.7% – Time to Buy?
by Mitch Edgeman · The Markets Dailymonday.com Ltd. (NASDAQ:MNDY – Get Free Report)’s share price rose 4.7% during mid-day trading on Friday . The company traded as high as $75.45 and last traded at $75.1370. Approximately 263,851 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 1,988,639 shares. The stock had previously closed at $71.74.
Analyst Upgrades and Downgrades
MNDY has been the topic of a number of research analyst reports. Wall Street Zen raised shares of monday.com from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. BTIG Research reduced their target price on shares of monday.com from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. Canaccord Genuity Group decreased their price target on shares of monday.com from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. TD Cowen raised their price target on shares of monday.com from $100.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Finally, Weiss Ratings restated a “sell (d+)” rating on shares of monday.com in a research report on Thursday, June 11th. Seventeen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $126.04.
Read Our Latest Research Report on monday.com
monday.com Price Performance
The stock has a market capitalization of $3.87 billion, a price-to-earnings ratio of 32.98, a price-to-earnings-growth ratio of 3.70 and a beta of 1.26. The stock has a 50-day moving average of $78.52 and a 200 day moving average of $83.62.
monday.com (NASDAQ:MNDY – Get Free Report) last released its earnings results on Friday, March 13th. The company reported $1.15 earnings per share (EPS) for the quarter. The company had revenue of $351.26 million for the quarter. monday.com had a net margin of 9.17% and a return on equity of 5.10%. Sell-side analysts anticipate that monday.com Ltd. will post 1.59 earnings per share for the current fiscal year.
Hedge Funds Weigh In On monday.com
Several large investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its holdings in monday.com by 76.5% during the 2nd 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. CoreCap Advisors LLC lifted its stake in shares of monday.com by 29.8% in the 4th quarter. CoreCap Advisors LLC now owns 388 shares of the company’s stock valued at $57,000 after purchasing an additional 89 shares during the period. NewEdge Advisors LLC grew its stake 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 during the period. Royal London Asset Management Ltd. grew its stake in shares of monday.com by 8.5% during the fourth quarter. Royal London Asset Management Ltd. now owns 1,792 shares of the company’s stock worth $264,000 after purchasing an additional 140 shares during the period. Finally, Advisory Services Network LLC bought a new stake in monday.com in the third quarter valued at about $28,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.
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.