monday.com (NASDAQ:MNDY) Trading Up 5.8% - Here's Why

monday.com Ltd. (NASDAQ:MNDY - Get Free Report) rose 5.8% on Tuesday . The company traded as high as $255.15 and last traded at $257.37. Approximately 331,751 shares were traded during trading, a decline of 58% from the average daily volume of 788,848 shares. The stock had previously closed at $243.16.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Scotiabank lowered their price objective on monday.com from $400.00 to $315.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. Jefferies Financial Group cut their price objective on shares of monday.com from $400.00 to $360.00 and set a "buy" rating for the company in a report on Monday, March 31st. Robert W. Baird increased their price target on monday.com from $275.00 to $335.00 and gave the stock a "neutral" rating in a research report on Tuesday, February 11th. KeyCorp raised monday.com from a "sector weight" rating to an "overweight" rating and set a $420.00 price objective for the company in a report on Tuesday, February 11th. Finally, Loop Capital decreased their price target on monday.com from $310.00 to $300.00 and set a "buy" rating on the stock in a research report on Monday, December 23rd. Three research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $352.64.

monday.com Stock Down 6.8 %

The stock has a market capitalization of $11.06 billion, a PE ratio of 362.95, a PEG ratio of 16.53 and a beta of 1.27. The stock's 50 day moving average price is $272.65 and its 200-day moving average price is $269.77.

Remove Ads

monday.com (NASDAQ:MNDY - Get Free Report) last issued its earnings results on Monday, February 10th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a net margin of 3.33% and a return on equity of 6.22%. On average, analysts forecast that monday.com Ltd. will post 0.46 earnings per share for the current year.

Hedge Funds Weigh In On monday.com

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Stonebridge Financial Group LLC bought a new stake in shares of monday.com during the 4th quarter worth approximately $25,000. Arcadia Investment Management Corp MI purchased a new stake in monday.com in the fourth quarter worth $28,000. R Squared Ltd bought a new stake in shares of monday.com during the fourth quarter worth $33,000. Signaturefd LLC lifted its holdings in monday.com by 157.1% during the 4th quarter. Signaturefd LLC now owns 144 shares of the company's stock valued at $34,000 after buying an additional 88 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its position in monday.com by 64.8% in the 4th quarter. Global Retirement Partners LLC now owns 150 shares of the company's stock valued at $35,000 after buying an additional 59 shares during the period. Hedge funds and other institutional investors own 73.70% of the company's stock.

About monday.com

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.