monday.com (NASDAQ:MNDY) Hits New 12-Month High – Here’s Why

monday.com Ltd. (NASDAQ:MNDY) shares reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $334.30 and last traded at $332.76, with a volume of 1742926 shares traded. The stock had previously closed at $258.24.

Analysts Set New Price Targets

MNDY has been the topic of a number of research reports. Cantor Fitzgerald assumed coverage on shares of monday.com in a research note on Friday, January 17th. They issued an “overweight” rating and a $292.00 target price on the stock. DA Davidson reaffirmed a “neutral” rating and issued a $300.00 price target on shares of monday.com in a report on Tuesday, November 12th. William Blair reissued an “outperform” rating on shares of monday.com in a report on Wednesday, December 18th. KeyCorp lowered shares of monday.com from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Finally, Jefferies Financial Group decreased their price target on monday.com from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Tuesday, January 21st. Five research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $310.68.

monday.com Stock Performance

The firm has a market capitalization of $16.23 billion, a P/E ratio of 829.80, a price-to-earnings-growth ratio of 7.67 and a beta of 1.31. The firm has a 50 day moving average price of $249.33 and a two-hundred day moving average price of $261.41.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, February 10th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a net margin of 2.39% and a return on equity of 4.99%. Equities research analysts forecast that monday.com Ltd. will post 0.85 earnings per share for the current fiscal year.

Institutional Investors Weigh In On monday.com

A number of large investors have recently made changes to their positions in MNDY. Truist Financial Corp raised its stake in monday.com by 4.1% during the 2nd quarter. Truist Financial Corp now owns 4,993 shares of the company’s stock valued at $1,202,000 after purchasing an additional 195 shares during the period. Sanctuary Advisors LLC purchased a new position in shares of monday.com during the second quarter valued at $285,000. Inspire Investing LLC acquired a new position in monday.com during the third quarter valued at $870,000. Sapient Capital LLC purchased a new stake in monday.com in the 3rd quarter worth about $1,282,000. Finally, Chicago Capital LLC boosted its holdings in shares of monday.com by 18.9% during the third quarter. Chicago Capital LLC now owns 1,795 shares of the company’s stock worth $499,000 after purchasing an additional 285 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.

About monday.com

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.