Stock Traders Purchase Large Volume of monday.com Call Options (NASDAQ:MNDY)

monday.com Ltd. (NASDAQ:MNDY - Get Free Report) was the target of unusually large options trading activity on Monday. Traders acquired 8,091 call options on the company. This is an increase of 302% compared to the average daily volume of 2,015 call options.

Wall Street Analysts Forecast Growth

A number of research firms have commented on MNDY. Loop Capital lifted their target price on shares of monday.com from $285.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, September 25th. DA Davidson increased their target price on monday.com from $250.00 to $300.00 and gave the company a "neutral" rating in a research note on Wednesday, September 25th. Baird R W raised shares of monday.com to a "hold" rating in a research note on Tuesday, July 23rd. Capital One Financial assumed coverage on shares of monday.com in a research note on Thursday, October 10th. They issued an "overweight" rating and a $325.00 target price for the company. Finally, Canaccord Genuity Group boosted their target price on monday.com from $250.00 to $295.00 and gave the company a "buy" rating in a research note on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, monday.com has a consensus rating of "Moderate Buy" and a consensus price target of $306.60.

monday.com Price Performance

Shares of monday.com stock traded down $49.10 during trading on Monday, hitting $275.21. The company's stock had a trading volume of 4,009,604 shares, compared to its average volume of 710,558. monday.com has a 52 week low of $150.10 and a 52 week high of $324.99. The stock has a market cap of $13.29 billion, a price-to-earnings ratio of 341.00, a price-to-earnings-growth ratio of 15.22 and a beta of 1.31. The stock has a 50-day moving average price of $278.88 and a two-hundred day moving average price of $246.22.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings results on Monday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.23. The firm had revenue of $236.11 million for the quarter, compared to analyst estimates of $227.96 million. monday.com had a return on equity of 4.74% and a net margin of 4.88%. On average, equities analysts predict that monday.com will post 0.5 EPS for the current fiscal year.

Institutional Investors Weigh In On monday.com

Several hedge funds and other institutional investors have recently made changes to their positions in MNDY. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of monday.com during the 3rd quarter worth $43,000. Ridgewood Investments LLC purchased a new stake in shares of monday.com in the 2nd quarter valued at about $45,000. Gilliland Jeter Wealth Management LLC lifted its position in monday.com by 72.9% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company's stock valued at $58,000 after purchasing an additional 102 shares during the last quarter. Opal Wealth Advisors LLC purchased a new position in monday.com in the second quarter worth $69,000. Finally, Industrial Alliance Investment Management Inc. increased its position in shares of monday.com by 741.7% during the 1st quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company's stock valued at $91,000 after purchasing an additional 356 shares during the last quarter. 73.70% of the stock is owned by institutional investors.

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.