monday.com (NASDAQ:MNDY) Shares Up 6.8% – Should You Buy?

monday.com Ltd. (NASDAQ:MNDY)’s share price was up 6.8% during trading on Thursday. The company traded as high as $92.79 and last traded at $93.4270. 249,830 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 1,798,083 shares. The stock had previously closed at $87.47.

Wall Street Analyst Weigh In

MNDY has been the topic of several analyst reports. Wall Street Zen upgraded monday.com from a “hold” rating to a “buy” rating in a research report on Monday, October 5th. Wells Fargo & Company reduced their price target on monday.com from $130.00 to $120.00 and set an “overweight” rating for the company in a research report on Tuesday, August 11th. Wolfe Research downgraded monday.com from an “outperform” rating to a “peer perform” rating in a research note on Tuesday, August 11th. Cantor Fitzgerald cut monday.com from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $112.00 to $90.00 in a research report on Monday, August 10th. Finally, Weiss Ratings upgraded monday.com from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Thursday. Twelve investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $111.70.

monday.com Stock Down 4.2%

The stock’s 50 day moving average price is $88.56 and its 200-day moving average price is $80.40. The stock has a market capitalization of $4.62 billion, a PE ratio of 38.46, a PEG ratio of 2.13 and a beta of 1.14.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, August 10th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.11 by $0.37. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The firm had revenue of $364.62 million for the quarter, compared to the consensus estimate of $355.55 million. During the same period last year, the firm earned $1.09 EPS. The company’s revenue was up 21.9% on a year-over-year basis. On average, analysts forecast that monday.com Ltd. will post 2.34 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

Institutional investors have recently bought and sold shares of the business. SEB Asset Management AB purchased a new position in shares of monday.com in the first quarter valued at about $1,639,000. Swiss National Bank boosted its stake in shares of monday.com by 28.6% in the first quarter. Swiss National Bank now owns 159,100 shares of the company’s stock worth $10,995,000 after acquiring an additional 35,400 shares during the period. Empowered Funds LLC boosted its stake in shares of monday.com by 4,194.6% in the first quarter. Empowered Funds LLC now owns 14,430 shares of the company’s stock worth $997,000 after acquiring an additional 14,094 shares during the period. Arkadios Wealth Advisors purchased a new stake in shares of monday.com during the first quarter worth about $1,534,000. Finally, Royal Bank of Canada grew its position in shares of monday.com by 88.7% during the first quarter. Royal Bank of Canada now owns 30,422 shares of the company’s stock worth $2,102,000 after purchasing an additional 14,300 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

About monday.com

monday.com Ltd. develops cloud-based software designed to help organizations plan, manage and track work. Its platform provides customizable workflows, visual boards, dashboards, automations and collaboration tools that teams can use to coordinate projects, processes and day-to-day operations.

The company offers a portfolio of products built on its Work Operating System, including monday work management for project and task coordination, monday CRM for sales and customer-management activities, monday dev for software-development teams and monday service for service-management workflows.