monday.com Ltd. (NASDAQ:MNDY) Short Interest Up 19.9% in February

monday.com Ltd. (NASDAQ:MNDY) was the recipient of a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 5,024,842 shares, an increase of 19.9% from the January 29th total of 4,191,242 shares. Approximately 12.7% of the shares of the stock are short sold. Based on an average trading volume of 5,320,174 shares, the short-interest ratio is presently 0.9 days. Based on an average trading volume of 5,320,174 shares, the short-interest ratio is presently 0.9 days. Approximately 12.7% of the shares of the stock are short sold.

monday.com Price Performance

Shares of NASDAQ:MNDY opened at $73.56 on Wednesday. The firm has a market capitalization of $3.73 billion, a PE ratio of 32.69, a price-to-earnings-growth ratio of 1.31 and a beta of 1.31. The business has a 50 day simple moving average of $111.95 and a two-hundred day simple moving average of $154.41. monday.com has a 1 year low of $68.68 and a 1 year high of $316.98.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, February 9th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. monday.com had a return on equity of 4.80% and a net margin of 9.64%.The company had revenue of $333.88 million during the quarter, compared to analysts’ expectations of $329.71 million. During the same quarter in the previous year, the business earned $1.08 EPS. monday.com’s revenue was up 24.6% compared to the same quarter last year. Equities research analysts expect that monday.com will post 0.46 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Robert W. Baird reaffirmed a “neutral” rating and set a $90.00 price objective (down from $175.00) on shares of monday.com in a report on Tuesday, February 10th. Tigress Financial lifted their price target on shares of monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Guggenheim reduced their target price on monday.com from $250.00 to $180.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Loop Capital set a $80.00 target price on shares of monday.com in a report on Tuesday, February 10th. Finally, Citigroup dropped their price objective on shares of monday.com from $230.00 to $176.00 and set a “buy” rating for the company in a research note on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $155.38.

Hedge Funds Weigh In On monday.com

A number of hedge funds have recently added to or reduced their stakes in MNDY. NewEdge Advisors LLC boosted its holdings in shares of monday.com by 2,120.0% in the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after purchasing an additional 106 shares during the period. Advisory Services Network LLC purchased a new position in shares of monday.com during the third quarter valued at $28,000. Quarry LP purchased a new position in shares of monday.com during the fourth quarter valued at $29,000. Abound Wealth Management bought a new stake in shares of monday.com in the fourth quarter valued at about $30,000. Finally, Promus Capital LLC purchased a new stake in monday.com in the second quarter worth about $45,000. 73.70% of the stock is currently owned by institutional investors.

monday.com Company Profile

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.