monday.com Ltd. (NASDAQ:MNDY) Short Interest Up 19.9% in February

monday.com Ltd. (NASDAQ:MNDY) was the target of a large increase in short interest in the month of February. As of February 13th, there was short interest totaling 5,024,842 shares, an increase of 19.9% from the January 29th total of 4,191,242 shares. Based on an average daily trading volume, of 5,320,174 shares, the days-to-cover ratio is currently 0.9 days. Currently, 12.7% of the company’s stock are short sold. Currently, 12.7% of the company’s stock are short sold. Based on an average daily trading volume, of 5,320,174 shares, the days-to-cover ratio is currently 0.9 days.

monday.com Price Performance

NASDAQ MNDY opened at $78.48 on Friday. The company has a fifty day moving average price of $109.21 and a 200-day moving average price of $153.33. The firm has a market cap of $3.98 billion, a price-to-earnings ratio of 34.88, a PEG ratio of 1.41 and a beta of 1.31. monday.com has a 1 year low of $68.68 and a 1 year high of $316.98.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, February 9th. The company reported $1.04 earnings per share for the quarter, topping the consensus estimate of $0.91 by $0.13. The business had revenue of $333.88 million for the quarter, compared to analysts’ expectations of $329.71 million. monday.com had a net margin of 9.64% and a return on equity of 4.80%. The firm’s revenue for the quarter was up 24.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.08 earnings per share. On average, research analysts anticipate that monday.com will post 0.46 EPS for the current fiscal year.

Institutional Trading of monday.com

Hedge funds have recently bought and sold shares of the business. NewEdge Advisors LLC grew its stake in monday.com by 2,120.0% in the 1st quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after purchasing an additional 106 shares during the period. CWM LLC grew its position in monday.com by 31.3% during the second quarter. CWM LLC now owns 210 shares of the company’s stock valued at $66,000 after buying an additional 50 shares during the period. Spire Wealth Management grew its position in monday.com by 7.5% during the second quarter. Spire Wealth Management now owns 615 shares of the company’s stock valued at $193,000 after buying an additional 43 shares during the period. Assetmark Inc. increased its holdings in monday.com by 52.5% during the second quarter. Assetmark Inc. now owns 9,950 shares of the company’s stock worth $3,129,000 after buying an additional 3,425 shares during the last quarter. Finally, Atria Investments Inc raised its position in monday.com by 21.6% in the second quarter. Atria Investments Inc now owns 3,611 shares of the company’s stock worth $1,136,000 after acquiring an additional 641 shares during the period. 73.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MNDY shares. Canaccord Genuity Group decreased their price objective on monday.com from $190.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Cantor Fitzgerald decreased their price target on shares of monday.com from $148.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, February 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of monday.com in a research note on Thursday, January 22nd. Zacks Research upgraded shares of monday.com from a “hold” rating to a “strong-buy” rating in a report on Tuesday, February 3rd. Finally, Morgan Stanley lowered their target price on shares of monday.com from $236.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, January 27th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.38.

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.