monday.com (NASDAQ:MNDY) Trading Up 6.6% – Here’s What Happened

Shares of monday.com Ltd. (NASDAQ:MNDY) traded up 6.6% during trading on Monday . The stock traded as high as $75.75 and last traded at $76.7230. 248,470 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 2,203,902 shares. The stock had previously closed at $71.97.

Analyst Ratings Changes

Several research firms recently weighed in on MNDY. Weiss Ratings reiterated a “sell (d)” rating on shares of monday.com in a report on Thursday, January 22nd. Needham & Company LLC decreased their price target on monday.com from $250.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. Jefferies Financial Group restated a “hold” rating on shares of monday.com in a research report on Tuesday, May 12th. BTIG Research cut their price objective on monday.com from $135.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Finally, DA Davidson set a $100.00 target price on monday.com in a research note on Tuesday, February 10th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $132.78.

monday.com Trading Up 7.7%

The firm’s fifty day simple moving average is $70.27 and its 200 day simple moving average is $111.47. The company has a market cap of $3.97 billion, a price-to-earnings ratio of 33.73, a PEG ratio of 3.12 and a beta of 1.17.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Friday, March 13th. The company reported $1.15 earnings per share for the quarter. The business had revenue of $351.27 million for the quarter. monday.com had a net margin of 9.17% and a return on equity of 5.10%. As a group, sell-side analysts expect that monday.com Ltd. will post 1.83 EPS for the current year.

Institutional Trading of monday.com

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Empowered Funds LLC boosted its position in shares of monday.com by 4,194.6% during the 1st quarter. Empowered Funds LLC now owns 14,430 shares of the company’s stock worth $997,000 after acquiring an additional 14,094 shares in the last quarter. Quantinno Capital Management LP raised its position in shares of monday.com by 155.1% during the 1st quarter. Quantinno Capital Management LP now owns 31,676 shares of the company’s stock worth $2,189,000 after acquiring an additional 19,258 shares in the last quarter. RPD Fund Management LLC purchased a new stake in monday.com during the first quarter worth approximately $17,529,000. Ardmore Road Asset Management LP boosted its holdings in monday.com by 18.1% in the first quarter. Ardmore Road Asset Management LP now owns 118,700 shares of the company’s stock valued at $8,203,000 after purchasing an additional 18,234 shares in the last quarter. Finally, Entropy Technologies LP boosted its holdings in monday.com by 64.8% in the first quarter. Entropy Technologies LP now owns 21,590 shares of the company’s stock valued at $1,492,000 after purchasing an additional 8,490 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

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.