monday.com (NASDAQ:MNDY) Shares Climb 7.9% – What’s Next?

monday.com Ltd. (NASDAQ:MNDY)’s share price was up 7.9% during mid-day trading on Thursday. The company traded as high as $106.25 and last traded at $108.0230. 309,339 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 1,784,513 shares. The stock had previously closed at $100.15.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Weiss Ratings raised shares of monday.com from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 15th. Wolfe Research lowered shares of monday.com from an “outperform” rating to a “peer perform” rating in a report on Tuesday, August 11th. Cantor Fitzgerald downgraded monday.com from an “overweight” rating to a “neutral” rating and reduced their price target for the stock from $112.00 to $90.00 in a research report on Monday, August 10th. Citigroup decreased their price objective on monday.com from $154.00 to $132.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Finally, Zacks Research cut monday.com from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 15th. Twelve research analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, monday.com currently has a consensus rating of “Hold” and an average price target of $111.70.

monday.com Price Performance

The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 45.47, a P/E/G ratio of 2.28 and a beta of 1.14. The company’s fifty day moving average price is $89.21 and its 200-day moving average price is $81.11.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, August 10th. The company reported $1.48 EPS for the quarter, topping analysts’ consensus estimates of $1.11 by $0.37. The company had revenue of $364.62 million during the quarter, compared to analysts’ expectations of $355.55 million. monday.com had a net margin of 8.87% and a return on equity of 9.09%. monday.com’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period last year, the business earned $1.09 EPS. On average, sell-side analysts forecast that monday.com Ltd. will post 2.34 earnings per share for the current fiscal year.

Insider Activity

In other monday.com news, Director Aviad Eyal sold 2,000 shares of the firm’s stock in a transaction on Tuesday, October 20th. The shares were sold at an average price of $100.04, for a total value of $200,080.00. Following the completion of the transaction, the director owned 203,455 shares of the company’s stock, valued at approximately $20,353,638.20. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 22.30% of the company’s stock.

Institutional Investors Weigh In On monday.com

Large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC grew its holdings in shares of monday.com by 498.6% during the first quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock valued at $29,000 after buying an additional 354 shares during the last quarter. Evanson Financial LLC purchased a new position in monday.com in the 2nd quarter worth $219,000. Quadrant Capital Group LLC purchased a new position in monday.com in the 3rd quarter worth $235,000. State of Wyoming lifted its position in monday.com by 96.6% during the 1st quarter. State of Wyoming now owns 3,497 shares of the company’s stock worth $242,000 after acquiring an additional 1,718 shares during the period. Finally, Fulton Bank N.A. lifted its position in monday.com by 5.1% during the 2nd quarter. Fulton Bank N.A. now owns 3,339 shares of the company’s stock worth $242,000 after acquiring an additional 162 shares during the period. 73.70% of the stock is owned by hedge funds and other institutional investors.

About monday.com

monday.com Ltd. is a software company that provides a cloud-based Work Operating System (Work OS) designed to help organizations manage projects, workflows and business operations. Its platform uses configurable boards, dashboards, automations, integrations and collaboration tools, enabling teams to organize work and build workflows without extensive software development.

The company offers products tailored to several business functions, including monday work management for project and task coordination, monday CRM for sales and customer relationship processes, monday dev for software development teams, and monday service for managing customer support and service operations.