monday.com (NASDAQ:MNDY) Stock Price Up 5.1% – Still a Buy?

Shares of monday.com Ltd. (NASDAQ:MNDY) traded up 5.1% during mid-day trading on Wednesday. The stock traded as high as $80.75 and last traded at $79.9430. 146,400 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 1,847,412 shares. The stock had previously closed at $76.05.

Analyst Ratings Changes

Several research firms have commented on MNDY. Citigroup lowered their target price on shares of monday.com from $154.00 to $132.00 and set a “buy” rating on the stock in a research report on Tuesday, August 11th. Wall Street Zen cut monday.com from a “buy” rating to a “hold” rating in a research report on Sunday. Piper Sandler reiterated a “neutral” rating and set a $90.00 price target on shares of monday.com in a research note on Monday, August 10th. Zacks Research raised monday.com from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Finally, JPMorgan Chase & Co. downgraded monday.com from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $90.00 to $87.00 in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $111.70.

monday.com Price Performance

The business has a 50 day moving average price of $88.66 and a 200 day moving average price of $79.32. The firm has a market capitalization of $4.06 billion, a P/E ratio of 33.71, a price-to-earnings-growth ratio of 1.85 and a beta of 1.15.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.37. monday.com had a return on equity of 9.09% and a net margin of 8.87%.The business had revenue of $364.62 million during the quarter, compared to analysts’ expectations of $355.55 million. During the same quarter in the previous year, the firm earned $1.09 EPS. The firm’s revenue was up 21.9% compared to the same quarter last year. As a group, equities analysts expect that monday.com Ltd. will post 2.25 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Fulton Bank N.A. grew its holdings in monday.com by 5.1% during the 2nd quarter. Fulton Bank N.A. now owns 3,339 shares of the company’s stock worth $242,000 after acquiring an additional 162 shares during the last quarter. Huntington National Bank increased its position in monday.com by 6,040.0% in the 4th quarter. Huntington National Bank now owns 307 shares of the company’s stock valued at $45,000 after acquiring an additional 302 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of monday.com by 498.6% in the first quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock worth $29,000 after acquiring an additional 354 shares during the last quarter. DGS Capital Management LLC raised its stake in shares of monday.com by 37.0% in the fourth quarter. DGS Capital Management LLC now owns 1,922 shares of the company’s stock worth $284,000 after acquiring an additional 519 shares during the last quarter. Finally, USS Investment Management Ltd lifted its position in shares of monday.com by 5.8% during the first quarter. USS Investment Management Ltd now owns 9,509 shares of the company’s stock worth $657,000 after purchasing an additional 524 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 Ltd. is a software company that provides cloud-based work management and productivity solutions for organizations of various sizes. Its platform is designed to help teams plan projects, manage workflows, coordinate tasks, track progress and collaborate across departments.

The company’s product portfolio includes monday work management, monday CRM, monday dev and monday service. These products support functions such as project and portfolio management, customer relationship management, software development, IT service management and business process automation.