Stock Traders Purchase Large Volume of Call Options on monday.com (NASDAQ:MNDY)

monday.com Ltd. (NASDAQ:MNDY) was the recipient of some unusual options trading activity on Monday. Traders bought 11,749 call options on the company. This represents an increase of 408% compared to the typical daily volume of 2,311 call options.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Oppenheimer boosted their target price on shares of monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Canaccord Genuity Group increased their price target on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. DA Davidson reissued a “neutral” rating and set a $300.00 target price on shares of monday.com in a research note on Tuesday, November 12th. Cantor Fitzgerald initiated coverage on monday.com in a research note on Friday, January 17th. They issued an “overweight” rating and a $292.00 price target for the company. Finally, Wells Fargo & Company upped their target price on monday.com from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $310.68.

monday.com Stock Performance

Shares of NASDAQ:MNDY traded up $82.29 during midday trading on Monday, hitting $340.53. 3,588,495 shares of the stock were exchanged, compared to its average volume of 1,047,860. The company has a market capitalization of $16.44 billion, a PE ratio of 828.83, a P/E/G ratio of 7.67 and a beta of 1.31. monday.com has a 52-week low of $174.75 and a 52-week high of $341.22. The business’s fifty day simple moving average is $249.33 and its two-hundred day simple moving average is $261.41.

monday.com (NASDAQ:MNDY) last posted 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 return on equity of 4.99% and a net margin of 2.39%. As a group, equities analysts anticipate that monday.com will post 0.85 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of MNDY. FMR LLC lifted 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 valued at $420,014,000 after purchasing an additional 798,791 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of monday.com by 1,024.7% in the fourth quarter. SG Americas Securities LLC now owns 476,392 shares of the company’s stock worth $112,162,000 after buying an additional 434,035 shares during the last quarter. Jennison Associates LLC boosted its stake in shares of monday.com by 77.5% during the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock worth $202,905,000 after acquiring an additional 318,837 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of monday.com by 431.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock valued at $107,176,000 after acquiring an additional 313,279 shares during the last quarter. Finally, Raymond James Financial Inc. bought a new position in shares of monday.com in the 4th quarter valued at approximately $27,010,000. 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.