monday.com (NASDAQ:MNDY) Shares Up 5.8% – What’s Next?

monday.com Ltd. (NASDAQ:MNDY)’s share price traded up 5.8% during mid-day trading on Tuesday . The stock traded as high as $255.15 and last traded at $257.37. 331,751 shares were traded during trading, a decline of 58% from the average session volume of 788,848 shares. The stock had previously closed at $243.16.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MNDY. Cantor Fitzgerald lifted their target price on monday.com from $292.00 to $380.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Canaccord Genuity Group upped their price objective on monday.com from $310.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. DA Davidson raised shares of monday.com from a “neutral” rating to a “buy” rating and set a $350.00 target price for the company in a report on Monday, March 17th. Citigroup raised shares of monday.com from a “neutral” rating to a “buy” rating and decreased their price target for the company from $302.00 to $298.00 in a research note on Thursday, January 16th. Finally, Needham & Company LLC lifted their price objective on shares of monday.com from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, February 10th. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $352.64.

monday.com Price Performance

The firm has a fifty day moving average of $273.56 and a two-hundred day moving average of $270.34. The stock has a market capitalization of $12.71 billion, a P/E ratio of 418.65, a P/E/G ratio of 16.53 and a beta of 1.27.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, February 10th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a net margin of 3.33% and a return on equity of 6.22%. As a group, sell-side analysts forecast that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On monday.com

A number of institutional investors have recently added to or reduced their stakes in MNDY. Charles Schwab Investment Management Inc. grew its position in shares of monday.com by 6.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 24,039 shares of the company’s stock worth $6,677,000 after buying an additional 1,353 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of monday.com by 8.0% during the third 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 in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 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 valued at $29,009,000 after purchasing an additional 10,285 shares during the last quarter. Verition Fund Management LLC boosted its position in shares of monday.com by 52.2% in the 3rd quarter. Verition Fund Management LLC now owns 15,475 shares of the company’s stock worth $4,298,000 after purchasing an additional 5,306 shares in the last quarter. Finally, Paloma Partners Management Co purchased a new position in monday.com during the 3rd quarter worth $371,000. Institutional investors own 73.70% of the company’s stock.

monday.com Company Profile

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.