monday.com (NASDAQ:MNDY) Sees Large Volume Increase – Should You Buy?

Shares of monday.com Ltd. (NASDAQ:MNDY) saw strong trading volume on Wednesday . 481,258 shares were traded during trading, a decline of 34% from the previous session’s volume of 729,776 shares.The stock last traded at $238.38 and had previously closed at $251.80.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MNDY shares. Capital One Financial began coverage on shares of monday.com in a research report on Thursday, October 10th. They issued an “overweight” rating and a $325.00 price target on the stock. Needham & Company LLC raised their price objective on monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Loop Capital upped their target price on monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Wells Fargo & Company boosted their price objective on monday.com from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, KeyCorp downgraded shares of monday.com from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, monday.com currently has an average rating of “Moderate Buy” and an average target price of $309.62.

monday.com Price Performance

The business has a fifty day moving average price of $283.18 and a 200 day moving average price of $258.47. The company has a market capitalization of $10.85 billion, a price-to-earnings ratio of 548.02, a price-to-earnings-growth ratio of 7.75 and a beta of 1.25.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.24. The company had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The business’s quarterly revenue was up 49.5% on a year-over-year basis. During the same period last year, the business posted $0.15 EPS. As a group, sell-side analysts predict that monday.com Ltd. will post 0.85 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of MNDY. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of monday.com during the 3rd quarter worth about $43,000. Ridgewood Investments LLC acquired a new position in shares of monday.com during the second quarter worth approximately $45,000. Toronto Dominion Bank acquired a new stake in shares of monday.com in the second quarter valued at approximately $120,000. Vestcor Inc increased its holdings in shares of monday.com by 31.4% in the third quarter. Vestcor Inc now owns 519 shares of the company’s stock valued at $144,000 after purchasing an additional 124 shares in the last quarter. Finally, Larson Financial Group LLC lifted its holdings in monday.com by 645.7% during the 3rd quarter. Larson Financial Group LLC now owns 604 shares of the company’s stock worth $168,000 after buying an additional 523 shares in the last quarter. 73.70% of the stock is owned by institutional investors.

About monday.com

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.