monday.com (NASDAQ:MNDY) Shares Up 8.3% – Still a Buy?

Shares of monday.com Ltd. (NASDAQ:MNDY) rose 8.3% on Thursday . The company traded as high as $99.86 and last traded at $100.2650. Approximately 172,157 shares traded hands during trading, a decline of 91% from the average session volume of 1,942,854 shares. The stock had previously closed at $92.55.

Analysts Set New Price Targets

MNDY has been the topic of several recent analyst reports. UBS Group upped their price target on shares of monday.com from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. TD Cowen reissued a “buy” rating and set a $110.00 price objective on shares of monday.com in a report on Tuesday, August 11th. Wall Street Zen raised shares of monday.com from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Tigress Financial cut their target price on shares of monday.com to $165.00 and set a “buy” rating on the stock in a research note on Friday, May 22nd. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $90.00 price target on shares of monday.com in a research report on Monday, August 10th. One analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.91.

monday.com Trading Up 4.8%

The stock’s 50-day moving average price is $82.55 and its 200-day moving average price is $77.01. The company has a market capitalization of $4.96 billion, a P/E ratio of 41.08, a P/E/G ratio of 2.18 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 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.37. The business had revenue of $364.62 million during the quarter, compared to the consensus estimate of $355.55 million. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.09 EPS. Sell-side analysts expect that monday.com Ltd. will post 2.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

Several institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System grew its position in monday.com by 10,466.8% in the 2nd quarter. California State Teachers Retirement System now owns 3,293,238 shares of the company’s stock worth $238,397,000 after purchasing an additional 3,262,072 shares during the last quarter. Capital World Investors raised its holdings in shares of monday.com by 91.4% during the fourth quarter. Capital World Investors now owns 3,286,461 shares of the company’s stock valued at $484,950,000 after buying an additional 1,569,198 shares during the last quarter. Renaissance Technologies LLC raised its holdings in shares of monday.com by 93.3% during the first 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 during the last quarter. Norges Bank acquired a new position in shares of monday.com during the fourth quarter worth approximately $79,789,000. Finally, Marshall Wace LLP boosted its position in shares of monday.com by 294.0% during the third quarter. Marshall Wace LLP now owns 405,995 shares of the company’s stock worth $78,637,000 after buying 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.