monday.com (NASDAQ:MNDY) Shares Climb 7.9% – What’s Next?

monday.com Ltd. (NASDAQ:MNDY) shares rose 7.9% on Thursday. The company traded as high as $106.25 and last traded at $108.0230. Approximately 309,339 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 1,784,513 shares. The stock had previously closed at $100.15.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Weiss Ratings upgraded shares of monday.com from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 15th. UBS Group lifted their target price on shares of monday.com from $85.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, August 11th. Wolfe Research downgraded shares of monday.com from an “outperform” rating to a “peer perform” rating in a report on Tuesday, August 11th. Piper Sandler reissued a “neutral” rating and set a $90.00 price target on shares of monday.com in a report on Monday, August 10th. Finally, Zacks Research downgraded monday.com from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 15th. Twelve research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $111.70.

monday.com Price Performance

The stock has a market cap of $5.47 billion, a P/E ratio of 45.47, a PEG ratio of 2.28 and a beta of 1.14. The firm’s 50-day moving average price is $89.21 and its 200-day moving average price is $81.11.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, August 10th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.37. monday.com had a return on equity of 9.09% and a net margin of 8.87%. The company had revenue of $364.62 million for the quarter, compared to the consensus estimate of $355.55 million. During the same period in the previous year, the business earned $1.09 earnings per share. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. Sell-side analysts expect that monday.com Ltd. will post 2.34 earnings per share for the current year.

Insider Activity at monday.com

In other news, Director Aviad Eyal sold 2,000 shares of the stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $100.04, for a total value of $200,080.00. Following the sale, the director directly owned 203,455 shares in the company, valued at approximately $20,353,638.20. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On monday.com

Several large investors have recently added to or reduced their stakes in MNDY. Fulton Bank N.A. boosted its stake in shares of monday.com by 5.1% during the second quarter. Fulton Bank N.A. now owns 3,339 shares of the company’s stock valued at $242,000 after purchasing an additional 162 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in monday.com by 498.6% during the first quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock valued at $29,000 after purchasing an additional 354 shares in the last quarter. USS Investment Management Ltd boosted its position in monday.com by 5.8% during the first quarter. USS Investment Management Ltd now owns 9,509 shares of the company’s stock valued at $657,000 after purchasing an additional 524 shares in the last quarter. Pictet Asset Management Holding SA boosted its position in monday.com by 7.1% during the first quarter. Pictet Asset Management Holding SA now owns 18,766 shares of the company’s stock valued at $1,297,000 after purchasing an additional 1,247 shares in the last quarter. Finally, Hsbc Holdings PLC grew its stake in monday.com by 6.4% in the fourth quarter. Hsbc Holdings PLC now owns 21,774 shares of the company’s stock valued at $3,226,000 after purchasing an additional 1,301 shares during the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

monday.com Company Profile

monday.com Ltd. is a software company that provides a cloud-based Work Operating System (Work OS) designed to help organizations manage projects, workflows and business operations. Its platform uses configurable boards, dashboards, automations, integrations and collaboration tools, enabling teams to organize work and build workflows without extensive software development.

The company offers products tailored to several business functions, including monday work management for project and task coordination, monday CRM for sales and customer relationship processes, monday dev for software development teams, and monday service for managing customer support and service operations.