Short Interest in monday.com Ltd. (NASDAQ:MNDY) Declines By 31.5%

monday.com Ltd. (NASDAQ:MNDYGet Rating) was the recipient of a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 2,410,000 shares, a decrease of 31.5% from the May 15th total of 3,520,000 shares. Based on an average daily trading volume, of 645,100 shares, the short-interest ratio is currently 3.7 days. Currently, 18.3% of the company’s stock are short sold.

A number of large investors have recently modified their holdings of the stock. Winch Advisory Services LLC acquired a new stake in monday.com during the 4th quarter worth $33,000. Royal Bank of Canada boosted its stake in monday.com by 49.6% during the 1st quarter. Royal Bank of Canada now owns 347 shares of the company’s stock worth $55,000 after purchasing an additional 115 shares during the period. Arlington Partners LLC purchased a new position in monday.com during the 4th quarter worth $48,000. Clal Insurance Enterprises Holdings Ltd purchased a new position in monday.com during the 4th quarter worth $51,000. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in monday.com by 0.7% during the 1st quarter. Migdal Insurance & Financial Holdings Ltd. now owns 25,000 shares of the company’s stock worth $3,952,000 after buying an additional 176 shares during the last quarter. Hedge funds and other institutional investors own 76.31% of the company’s stock.

Shares of monday.com stock traded up $2.27 during trading hours on Tuesday, hitting $95.16. The company had a trading volume of 4,227 shares, compared to its average volume of 575,821. The company’s 50-day moving average is $123.30 and its two-hundred day moving average is $185.74. monday.com has a twelve month low of $87.05 and a twelve month high of $450.00. The company has a market cap of $4.20 billion and a P/E ratio of -20.51.

monday.com (NASDAQ:MNDYGet Rating) last issued its quarterly earnings results on Monday, May 16th. The company reported ($0.96) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.51) by $0.55. The firm had revenue of $108.50 million during the quarter, compared to analysts’ expectations of $101.31 million. monday.com had a negative net margin of 43.90% and a negative return on equity of 22.46%. The business’s quarterly revenue was up 83.9% on a year-over-year basis. Equities research analysts expect that monday.com will post -5.48 earnings per share for the current fiscal year.

Several brokerages recently weighed in on MNDY. Piper Sandler cut their target price on shares of monday.com to $200.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 17th. Tigress Financial cut their target price on shares of monday.com from $432.00 to $240.00 in a research note on Wednesday, June 1st. Cowen lowered their price target on shares of monday.com from $240.00 to $200.00 in a report on Tuesday, May 17th. Canaccord Genuity Group lowered their price target on shares of monday.com from $200.00 to $150.00 and set a “buy” rating for the company in a report on Tuesday, May 17th. Finally, The Goldman Sachs Group lowered their price target on shares of monday.com from $390.00 to $270.00 and set a “buy” rating for the company in a report on Thursday, April 14th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, monday.com has an average rating of “Buy” and an average target price of $248.85.

monday.com Company Profile (Get Rating)

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, and internationally. It 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.

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