monday.com (NASDAQ:MNDY) Sees Large Volume Increase – What’s Next?

Shares of monday.com Ltd. (NASDAQ:MNDY) saw unusually-high trading volume on Wednesday . Approximately 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.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MNDY. Capital One Financial initiated coverage on monday.com in a report on Thursday, October 10th. They issued an “overweight” rating and a $325.00 target price on the stock. Canaccord Genuity Group raised their price objective on shares of monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Oppenheimer boosted their target price on shares of monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. William Blair reiterated an “outperform” rating on shares of monday.com in a research report on Wednesday. Finally, Tigress Financial boosted their price objective on shares of monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Six equities research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $309.62.

monday.com Price Performance

The stock has a market cap of $11.54 billion, a P/E ratio of 582.98, a price-to-earnings-growth ratio of 7.75 and a beta of 1.25. The stock’s 50-day moving average is $285.29 and its two-hundred day moving average is $258.89.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, November 11th. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The business had revenue of $251.00 million during the quarter, compared to the consensus estimate of $246.17 million. During the same quarter in the prior year, the firm earned $0.15 EPS. The business’s revenue was up 49.5% on a year-over-year basis. On average, analysts anticipate that monday.com Ltd. will post 0.85 EPS for the current fiscal year.

Institutional Investors Weigh In On monday.com

Several large investors have recently bought and sold shares of MNDY. FMR LLC grew its stake in shares of monday.com by 112.0% in the 3rd quarter. FMR LLC now owns 1,512,094 shares of the company’s stock worth $420,014,000 after buying an additional 798,791 shares in the last quarter. Jennison Associates LLC lifted its holdings in shares of monday.com by 77.5% in the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after acquiring an additional 318,837 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in monday.com by 431.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock worth $107,176,000 after acquiring an additional 313,279 shares in the last quarter. Renaissance Technologies LLC increased its stake in monday.com by 20.2% during the second quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock worth $270,299,000 after acquiring an additional 188,800 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in monday.com by 171.3% during the second quarter. Bank of New York Mellon Corp now owns 273,877 shares of the company’s stock valued at $65,938,000 after purchasing an additional 172,919 shares during the period. Institutional investors 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.