monday.com (NASDAQ:MNDY) Trading Up 4.7% – Time to Buy?

monday.com Ltd. (NASDAQ:MNDY) shares shot up 4.7% on Friday . The company traded as high as $75.45 and last traded at $75.1370. 263,851 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 1,988,639 shares. The stock had previously closed at $71.74.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MNDY shares. Wall Street Zen raised shares of monday.com from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Citigroup lowered their target price on shares of monday.com from $176.00 to $154.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Jefferies Financial Group reaffirmed a “hold” rating on shares of monday.com in a report on Tuesday, May 12th. Canaccord Genuity Group cut their price target on monday.com from $140.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Finally, Piper Sandler raised their price target on monday.com from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Seventeen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, monday.com currently has an average rating of “Moderate Buy” and an average target price of $126.04.

monday.com Trading Up 7.9%

The firm’s 50-day moving average price is $78.63 and its 200-day moving average price is $83.58. The stock has a market capitalization of $3.96 billion, a PE ratio of 33.67, a PEG ratio of 3.88 and a beta of 1.26.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Friday, March 13th. The company reported $1.15 EPS for the quarter. monday.com had a return on equity of 5.10% and a net margin of 9.17%.The company had revenue of $351.26 million during the quarter. On average, equities research analysts predict that monday.com Ltd. will post 1.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

Institutional investors and hedge funds have recently modified their holdings of the stock. Capital World Investors raised its holdings in monday.com by 91.4% during the 4th quarter. Capital World Investors now owns 3,286,461 shares of the company’s stock valued at $484,950,000 after buying an additional 1,569,198 shares during the period. Renaissance Technologies LLC lifted its position in monday.com by 93.3% in the first quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock worth $150,797,000 after buying an additional 1,052,900 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in monday.com by 15.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,274,910 shares of the company’s stock worth $188,126,000 after buying an additional 165,996 shares during the period. Baillie Gifford & Co. boosted its stake in monday.com by 2.2% during the fourth quarter. Baillie Gifford & Co. now owns 723,655 shares of the company’s stock worth $106,783,000 after buying an additional 15,377 shares during the period. Finally, State Street Corp increased its position in monday.com by 3.8% during the fourth quarter. State Street Corp now owns 688,751 shares of the company’s stock valued at $101,632,000 after acquiring an additional 25,009 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

About monday.com

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.