monday.com (NASDAQ:MNDY) Hits New 12-Month High at $253.00

monday.com Ltd. (NASDAQ:MNDY)’s share price reached a new 52-week high on Monday . The company traded as high as $253.00 and last traded at $243.00, with a volume of 641626 shares trading hands. The stock had previously closed at $225.70.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Canaccord Genuity Group raised their target price on shares of monday.com from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Oppenheimer raised their target price on shares of monday.com from $240.00 to $250.00 and gave the company an “outperform” rating in a research report on Thursday, May 16th. William Blair reaffirmed an “outperform” rating on shares of monday.com in a research report on Monday, June 24th. Barclays assumed coverage on shares of monday.com in a research report on Wednesday, June 26th. They issued an “overweight” rating and a $275.00 price objective for the company. Finally, Baird R W raised shares of monday.com to a “hold” rating in a research report on Tuesday, July 23rd. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, monday.com currently has an average rating of “Moderate Buy” and an average price target of $255.53.

monday.com Stock Performance

The stock has a fifty day simple moving average of $228.00 and a two-hundred day simple moving average of $218.32. The stock has a market cap of $12.09 billion, a price-to-earnings ratio of 639.47, a P/E/G ratio of 43.41 and a beta of 1.30.

monday.com (NASDAQ:MNDY) last issued its earnings results on Wednesday, May 15th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.25. The firm had revenue of $216.91 million for the quarter, compared to the consensus estimate of $210.33 million. monday.com had a return on equity of 2.42% and a net margin of 2.53%. Equities analysts expect that monday.com Ltd. will post 0.12 earnings per share for the current fiscal year.

Institutional Investors Weigh In On monday.com

Several hedge funds have recently modified their holdings of the company. Vanguard Personalized Indexing Management LLC raised its position in monday.com by 12.3% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 2,602 shares of the company’s stock worth $626,000 after purchasing an additional 286 shares during the last quarter. Mercer Global Advisors Inc. ADV raised its position in monday.com by 4.4% during the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 1,124 shares of the company’s stock worth $271,000 after purchasing an additional 47 shares during the last quarter. Renaissance Technologies LLC raised its position in monday.com by 20.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock worth $270,299,000 after purchasing an additional 188,800 shares during the last quarter. Mesirow Financial Investment Management Inc. bought a new position in monday.com during the 2nd quarter worth $220,000. Finally, Envestnet Asset Management Inc. raised its position in monday.com by 19.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 185,567 shares of the company’s stock worth $44,677,000 after purchasing an additional 29,982 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Company Profile

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.