monday.com (NASDAQ:MNDY) Shares Gap Up – Should You Buy?

monday.com Ltd. (NASDAQ:MNDY)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $255.87, but opened at $264.04. monday.com shares last traded at $262.35, with a volume of 66,747 shares trading hands.

Analyst Upgrades and Downgrades

MNDY has been the topic of a number of research analyst reports. Barclays increased their price target on monday.com from $325.00 to $360.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Needham & Company LLC upped their target price on monday.com from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, February 10th. Piper Sandler lifted their price objective on shares of monday.com from $345.00 to $385.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Loop Capital dropped their price objective on monday.com from $310.00 to $300.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Finally, The Goldman Sachs Group raised their price target on shares of monday.com from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, monday.com has a consensus rating of “Moderate Buy” and an average target price of $358.32.

monday.com Trading Up 2.1 %

The firm has a market cap of $12.61 billion, a PE ratio of 436.83, a price-to-earnings-growth ratio of 16.53 and a beta of 1.27. The stock has a fifty day simple moving average of $265.97 and a two-hundred day simple moving average of $269.63.

monday.com (NASDAQ:MNDY) last issued 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 return on equity of 6.22% and a net margin of 3.33%. As a group, sell-side analysts predict that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in MNDY. Lansforsakringar Fondforvaltning AB publ bought a new position in monday.com during the 4th quarter worth approximately $1,905,000. Employees Retirement System of Texas purchased a new position in shares of monday.com in the 4th quarter valued at approximately $187,000. Polar Asset Management Partners Inc. bought a new stake in shares of monday.com during the 4th quarter valued at $9,629,000. Mackenzie Financial Corp lifted its holdings in shares of monday.com by 18.2% during the fourth quarter. Mackenzie Financial Corp now owns 2,430 shares of the company’s stock valued at $572,000 after purchasing an additional 374 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in monday.com by 12.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 117,436 shares of the company’s stock valued at $27,649,000 after buying an additional 12,999 shares during the last quarter. 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.