monday.com (NASDAQ:MNDY) Shares Up 5.8% – Time to Buy?

monday.com Ltd. (NASDAQ:MNDY)’s share price rose 5.8% during mid-day trading on Tuesday . The company traded as high as $255.15 and last traded at $257.37. Approximately 331,751 shares traded hands during mid-day trading, a decline of 58% from the average daily volume of 788,848 shares. The stock had previously closed at $243.16.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on MNDY. Robert W. Baird lifted their target price on monday.com from $275.00 to $335.00 and gave the company a “neutral” rating in a report on Tuesday, February 11th. Jefferies Financial Group lowered their price objective on monday.com from $400.00 to $360.00 and set a “buy” rating for the company in a research report on Monday. Piper Sandler raised their target price on shares of monday.com from $345.00 to $385.00 and gave the company an “overweight” rating in a report on Monday, February 10th. Wells Fargo & Company lifted their price target on shares of monday.com from $340.00 to $380.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Finally, KeyCorp raised shares of monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 price objective on the stock in a research report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $352.64.

monday.com Trading Up 6.1 %

The company’s 50 day moving average price is $273.01 and its 200 day moving average price is $270.32. The company has a market cap of $13.10 billion, a price-to-earnings ratio of 429.18, a PEG ratio of 16.53 and a beta of 1.27.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a net margin of 3.33% and a return on equity of 6.22%. Sell-side analysts predict that monday.com Ltd. will post 0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Wellington Management Group LLP boosted its position in shares of monday.com by 49.2% during the 4th quarter. Wellington Management Group LLP now owns 41,959 shares of the company’s stock worth $9,879,000 after purchasing an additional 13,827 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new stake in monday.com during the fourth quarter worth about $1,905,000. Employees Retirement System of Texas acquired a new position in monday.com during the fourth quarter worth about $187,000. Polar Asset Management Partners Inc. purchased a new position in monday.com in the fourth quarter valued at about $9,629,000. Finally, Mackenzie Financial Corp lifted its position in shares of monday.com by 18.2% during the 4th quarter. Mackenzie Financial Corp now owns 2,430 shares of the company’s stock valued at $572,000 after acquiring an additional 374 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

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.