monday.com (NASDAQ:MNDY) Reaches New 52-Week High – Here’s What Happened

monday.com Ltd. (NASDAQ:MNDY) shares hit a new 52-week high on Thursday . The stock traded as high as $294.88 and last traded at $294.88, with a volume of 289582 shares. The stock had previously closed at $282.52.

Analyst Ratings Changes

A number of analysts have weighed in on MNDY shares. Citigroup raised their price target on monday.com from $296.00 to $327.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. UBS Group boosted their target price on monday.com from $240.00 to $280.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Tigress Financial raised their price target on monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price target on shares of monday.com in a report on Thursday, September 26th. Finally, KeyCorp decreased their target price on shares of monday.com from $280.00 to $270.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Five equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, monday.com currently has an average rating of “Moderate Buy” and an average target price of $303.35.

monday.com Trading Up 4.3 %

The firm has a market cap of $14.23 billion, a price-to-earnings ratio of 770.53, a P/E/G ratio of 13.68 and a beta of 1.32. The firm’s 50-day moving average is $269.32 and its 200-day moving average is $236.51.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.23. The business had revenue of $236.11 million during the quarter, compared to analyst estimates of $227.96 million. monday.com had a return on equity of 4.74% and a net margin of 4.88%. Analysts forecast that monday.com Ltd. will post 0.49 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of MNDY. Sei Investments Co. raised its holdings in shares of monday.com by 63.9% during the 1st quarter. Sei Investments Co. now owns 107,331 shares of the company’s stock worth $24,243,000 after acquiring an additional 41,840 shares in the last quarter. Norden Group LLC bought a new position in monday.com in the 1st quarter valued at $840,000. Bessemer Group Inc. bought a new position in monday.com in the 1st quarter valued at $1,314,000. Toth Financial Advisory Corp bought a new position in monday.com in the 1st quarter valued at $782,000. Finally, Swiss National Bank grew its position in monday.com by 4.1% in the 1st quarter. Swiss National Bank now owns 86,400 shares of the company’s stock valued at $19,515,000 after acquiring an additional 3,400 shares during the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

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.