monday.com Ltd. (NASDAQ:MNDY) Sees Significant Growth in Short Interest

monday.com Ltd. (NASDAQ:MNDY) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 3,040,000 shares, a growth of 19.2% from the February 28th total of 2,550,000 shares. Based on an average daily trading volume, of 1,050,000 shares, the days-to-cover ratio is currently 2.9 days. Currently, 7.9% of the company’s shares are sold short.

Hedge Funds Weigh In On monday.com

A number of institutional investors have recently bought and sold shares of MNDY. Charles Schwab Investment Management Inc. increased its position in shares of monday.com by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 24,039 shares of the company’s stock worth $6,677,000 after acquiring an additional 1,353 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in monday.com by 8.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,349 shares of the company’s stock worth $3,708,000 after purchasing an additional 994 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in monday.com by 10.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 104,437 shares of the company’s stock worth $29,009,000 after purchasing an additional 10,285 shares in the last quarter. Verition Fund Management LLC raised its stake in monday.com by 52.2% during the 3rd quarter. Verition Fund Management LLC now owns 15,475 shares of the company’s stock valued at $4,298,000 after purchasing an additional 5,306 shares during the period. Finally, Paloma Partners Management Co acquired a new stake in shares of monday.com in the third quarter worth $371,000. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Trading Down 10.6 %

MNDY stock traded down $28.20 during trading hours on Thursday, hitting $238.40. 673,303 shares of the stock traded hands, compared to its average volume of 792,807. The stock has a 50-day simple moving average of $273.56 and a 200 day simple moving average of $270.34. The company has a market cap of $12.10 billion, a P/E ratio of 397.33, a P/E/G ratio of 16.53 and a beta of 1.27. monday.com has a one year low of $174.75 and a one year high of $342.64.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data 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 return on equity of 6.22% and a net margin of 3.33%. Analysts forecast that monday.com will post 0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of monday.com from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, February 11th. Loop Capital decreased their price target 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. KeyCorp upgraded 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. Wells Fargo & Company lifted their target price on monday.com from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, Robert W. Baird lifted their price objective on monday.com from $275.00 to $335.00 and gave the company a “neutral” rating in a research note on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, monday.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $352.64.

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.