monday.com (NASDAQ:MNDY) Shares Gap Up – What’s Next?

monday.com Ltd. (NASDAQ:MNDY)’s stock price gapped up prior to trading on Monday . The stock had previously closed at $83.62, but opened at $90.54. monday.com shares last traded at $91.6220, with a volume of 622,504 shares traded.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on MNDY shares. DA Davidson set a $100.00 target price on monday.com in a report on Tuesday, February 10th. BTIG Research decreased their price target on monday.com from $135.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Jefferies Financial Group reiterated a “hold” rating on shares of monday.com in a research report on Tuesday, May 12th. Wolfe Research reissued an “outperform” rating and issued a $95.00 price objective on shares of monday.com in a research note on Monday, February 9th. Finally, Canaccord Genuity Group cut their price objective on monday.com from $140.00 to $115.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Seventeen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $126.48.

monday.com Trading Up 12.8%

The stock has a market cap of $4.82 billion, a price-to-earnings ratio of 40.82, a P/E/G ratio of 4.58 and a beta of 1.24. The company has a fifty day simple moving average of $70.67 and a 200-day simple moving average of $103.42.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Friday, March 13th. The company reported $1.15 EPS for the quarter. The firm had revenue of $351.27 million during the quarter. monday.com had a net margin of 9.17% and a return on equity of 5.10%. As a group, analysts anticipate that monday.com Ltd. will post 1.45 earnings per share for the current year.

Hedge Funds Weigh In On monday.com

Large investors have recently made changes to their positions in the business. WCM Investment Management LLC grew its holdings in monday.com by 2.8% during the third quarter. WCM Investment Management LLC now owns 4,184,745 shares of the company’s stock valued at $843,519,000 after purchasing an additional 115,353 shares during the last quarter. Ibex Investors LLC acquired a new stake in shares of monday.com in the third quarter worth $34,864,000. TenCore Partners LP lifted its stake in shares of monday.com by 42.2% in the third quarter. TenCore Partners LP now owns 141,390 shares of the company’s stock worth $27,386,000 after buying an additional 41,935 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in shares of monday.com by 76.6% during the 3rd quarter. Thrivent Financial for Lutherans now owns 313,112 shares of the company’s stock worth $60,646,000 after buying an additional 135,797 shares during the period. Finally, Capital World Investors boosted its holdings in shares of monday.com by 231.2% during the 3rd quarter. Capital World Investors now owns 1,717,263 shares of the company’s stock worth $332,617,000 after buying an additional 1,198,761 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.

About monday.com

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.