monday.com (NASDAQ:MNDY) Trading 4.7% Higher – What’s Next?

monday.com Ltd. (NASDAQ:MNDY)’s share price rose 4.7% on Tuesday . The stock traded as high as $86.68 and last traded at $87.2090. 113,523 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 1,978,469 shares. The stock had previously closed at $83.33.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on MNDY shares. TD Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of monday.com in a research note on Tuesday, August 11th. Weiss Ratings reissued a “sell (d+)” rating on shares of monday.com in a research note on Thursday, June 11th. Oppenheimer set a $115.00 target price on shares of monday.com in a report on Monday, May 11th. Cantor Fitzgerald cut shares of monday.com from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $112.00 to $90.00 in a research report on Monday, August 10th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $90.00 price target on shares of monday.com in a report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, monday.com has a consensus rating of “Moderate Buy” and a consensus price target of $117.91.

monday.com Trading Up 3.4%

The business has a 50 day simple moving average of $80.98 and a two-hundred day simple moving average of $77.48. The company has a market cap of $4.66 billion, a PE ratio of 38.73, a price-to-earnings-growth ratio of 2.11 and a beta of 1.24.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, August 10th. The company reported $1.48 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $355.55 million. During the same quarter in the previous year, the business earned $1.09 earnings per share. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. On average, equities research analysts expect that monday.com Ltd. will post 2.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of MNDY. NewEdge Advisors LLC lifted its holdings in shares of monday.com by 2,120.0% during the 1st quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after acquiring an additional 106 shares during the period. Advisory Services Network LLC purchased a new stake in monday.com in the third quarter valued at approximately $28,000. EverSource Wealth Advisors LLC increased its position in monday.com by 76.5% during the second quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock worth $47,000 after purchasing an additional 65 shares during the last quarter. Quarry LP acquired a new position in monday.com during the fourth quarter worth approximately $29,000. Finally, Huntington National Bank raised its stake in monday.com by 6,040.0% during the fourth quarter. Huntington National Bank now owns 307 shares of the company’s stock worth $45,000 after purchasing an additional 302 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Company Profile

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.