monday.com (NASDAQ:MNDY) Shares Gap Up – Should You Buy?

monday.com Ltd. (NASDAQ:MNDY)’s stock price gapped up before the market opened on Monday . The stock had previously closed at $255.87, but opened at $264.04. monday.com shares last traded at $262.35, with a volume of 66,747 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MNDY shares. KeyCorp upgraded monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 price objective for the company in a report on Tuesday, February 11th. Cantor Fitzgerald boosted their price objective on shares of monday.com from $292.00 to $380.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Needham & Company LLC raised their target price on shares of monday.com from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Monday, February 10th. Tigress Financial boosted their target price on shares of monday.com from $340.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Finally, Robert W. Baird raised their price target on monday.com from $275.00 to $335.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $358.32.

monday.com Price Performance

The firm has a market capitalization of $12.61 billion, a PE ratio of 436.83, a P/E/G ratio of 16.53 and a beta of 1.27. The business has a 50-day simple moving average of $265.97 and a 200-day simple moving average of $269.63.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data 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 3.33% and a return on equity of 6.22%. On average, research analysts expect that monday.com Ltd. will post 0.46 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Stonebridge Financial Group LLC purchased a new position in monday.com during the fourth quarter valued at approximately $25,000. Arcadia Investment Management Corp MI purchased a new position in shares of monday.com in the 4th quarter valued at $28,000. R Squared Ltd bought a new stake in monday.com during the fourth quarter valued at about $33,000. Signaturefd LLC grew its stake in monday.com by 157.1% in the fourth quarter. Signaturefd LLC now owns 144 shares of the company’s stock valued at $34,000 after purchasing an additional 88 shares during the last quarter. Finally, Global Retirement Partners LLC raised its holdings in monday.com by 64.8% in the fourth quarter. Global Retirement Partners LLC now owns 150 shares of the company’s stock worth $35,000 after purchasing an additional 59 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors.

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.