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

monday.com Ltd. (NASDAQ:MNDY)’s share price gapped up before the market opened on Monday . The stock had previously closed at $83.62, but opened at $90.54. monday.com shares last traded at $91.6220, with a volume of 622,504 shares traded.

Analyst Upgrades and Downgrades

MNDY has been the topic of several research analyst reports. Wolfe Research reaffirmed an “outperform” rating and issued a $95.00 price target on shares of monday.com in a research report on Monday, February 9th. Cantor Fitzgerald decreased their target price on monday.com from $148.00 to $95.00 and set an “overweight” rating for the company in a research note on Tuesday, February 10th. Needham & Company LLC lowered their target price on monday.com from $250.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, February 9th. KeyCorp dropped their price target on monday.com from $220.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 10th. Finally, Piper Sandler upped their price target on monday.com from $85.00 to $90.00 and gave the stock a “neutral” rating in a report on Monday, May 11th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $126.48.

monday.com Stock Up 12.8%

The stock’s 50-day moving average price is $70.67 and its 200 day moving average price is $103.42. The firm has a market cap of $4.82 billion, a price-to-earnings ratio of 40.82, a price-to-earnings-growth ratio of 4.58 and a beta of 1.24.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Friday, March 13th. The company reported $1.15 earnings per share (EPS) for the quarter. The firm had revenue of $351.27 million for the quarter. monday.com had a return on equity of 5.10% and a net margin of 9.17%. On average, research analysts predict that monday.com Ltd. will post 1.45 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capital World Investors boosted its stake in monday.com by 91.4% during the fourth quarter. Capital World Investors now owns 3,286,461 shares of the company’s stock worth $484,950,000 after buying an additional 1,569,198 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of monday.com by 93.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock valued at $150,797,000 after buying an additional 1,052,900 shares in the last quarter. Norges Bank acquired a new position in shares of monday.com in the 4th quarter valued at $79,789,000. SG Americas Securities LLC lifted its holdings in shares of monday.com by 110.9% during the 4th quarter. SG Americas Securities LLC now owns 932,912 shares of the company’s stock worth $137,660,000 after acquiring an additional 490,491 shares during the period. Finally, Marshall Wace LLP lifted its holdings in shares of monday.com by 294.0% during the 3rd quarter. Marshall Wace LLP now owns 405,995 shares of the company’s stock worth $78,637,000 after acquiring an additional 302,961 shares during the period. 73.70% of the stock is owned by institutional investors.

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.