monday.com (NASDAQ:MNDY) Trading 6.2% Higher – Here’s What Happened

monday.com Ltd. (NASDAQ:MNDY) shares rose 6.2% on Tuesday . The company traded as high as $260.72 and last traded at $261.11. Approximately 201,640 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 890,584 shares. The stock had previously closed at $245.97.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MNDY. Capital One Financial assumed coverage on monday.com in a report on Thursday, October 10th. They set an “overweight” rating and a $325.00 price objective for the company. Needham & Company LLC boosted their price target on monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Canaccord Genuity Group upped their price target on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Robert W. Baird raised their price objective on shares of monday.com from $270.00 to $275.00 and gave the stock a “neutral” rating in a report on Tuesday, January 21st. Finally, Loop Capital lowered their target price on shares of monday.com from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Five equities research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $310.68.

monday.com Trading Down 3.3 %

The company has a 50-day moving average of $253.86 and a 200-day moving average of $260.13. The firm has a market capitalization of $11.68 billion, a P/E ratio of 589.90, a price-to-earnings-growth ratio of 6.29 and a beta of 1.30.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The firm had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $246.17 million. During the same quarter last year, the firm posted $0.15 earnings per share. The company’s revenue for the quarter was up 49.5% compared to the same quarter last year. Research analysts predict that monday.com Ltd. will post 0.85 EPS for the current year.

Hedge Funds Weigh In On monday.com

Hedge funds have recently bought and sold shares of the company. Bank of Montreal Can raised its position in monday.com by 11.1% in the 2nd quarter. Bank of Montreal Can now owns 14,601 shares of the company’s stock worth $3,523,000 after purchasing an additional 1,464 shares during the period. Toronto Dominion Bank bought a new position in monday.com in the second quarter worth $120,000. MBB Public Markets I LLC lifted its position in monday.com by 93.9% during the 2nd quarter. MBB Public Markets I LLC now owns 1,970 shares of the company’s stock valued at $474,000 after acquiring an additional 954 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of monday.com by 19.6% during the second quarter. The Manufacturers Life Insurance Company now owns 12,355 shares of the company’s stock valued at $2,975,000 after purchasing an additional 2,023 shares during the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in monday.com by 23.0% in the second quarter. Mackenzie Financial Corp now owns 1,981 shares of the company’s stock worth $477,000 after acquiring an additional 371 shares in the last quarter. Hedge funds and other 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.