monday.com (NASDAQ:MNDY) Sees Strong Trading Volume – Time to Buy?

Shares of monday.com Ltd. (NASDAQ:MNDYGet Free Report) saw strong trading volume on Wednesday . 481,258 shares changed hands during mid-day trading, a decline of 34% from the previous session’s volume of 729,776 shares.The stock last traded at $238.38 and had previously closed at $251.80.

Analysts Set New Price Targets

MNDY has been the subject of several analyst reports. Loop Capital raised their target price on shares of monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. TD Cowen increased their target price on monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Canaccord Genuity Group boosted their target price on shares of monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Barclays raised their price target on shares of monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Finally, DA Davidson reissued a “neutral” rating and issued a $300.00 price objective on shares of monday.com in a research report on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $309.62.

Get Our Latest Report on MNDY

monday.com Trading Down 5.1 %

The business’s 50-day moving average price is $285.29 and its 200-day moving average price is $258.89. The stock has a market cap of $11.54 billion, a PE ratio of 582.98, a P/E/G ratio of 7.75 and a beta of 1.25.

monday.com (NASDAQ:MNDYGet Free Report) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. The business had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The business’s quarterly revenue was up 49.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.15 earnings per share. As a group, analysts predict that monday.com Ltd. will post 0.85 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

Institutional investors have recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of monday.com in the 3rd quarter valued at approximately $43,000. Ridgewood Investments LLC acquired a new position in monday.com during the 2nd quarter valued at approximately $45,000. Gilliland Jeter Wealth Management LLC raised its holdings in shares of monday.com by 72.9% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock worth $58,000 after buying an additional 102 shares during the last quarter. Toronto Dominion Bank acquired a new stake in shares of monday.com during the second quarter worth $120,000. Finally, Vestcor Inc grew its holdings in shares of monday.com by 31.4% during the third quarter. Vestcor Inc now owns 519 shares of the company’s stock valued at $144,000 after buying an additional 124 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

About monday.com

(Get Free Report)

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.

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