monday.com (NASDAQ:MNDY) Shares Gap Up – Still a Buy?

monday.com Ltd. (NASDAQ:MNDY)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $234.15, but opened at $241.65. monday.com shares last traded at $239.92, with a volume of 97,102 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. Piper Sandler lowered their price target on monday.com from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Citigroup raised monday.com from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $302.00 to $298.00 in a research report on Thursday. Canaccord Genuity Group increased their price objective on monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. KeyCorp lowered shares of monday.com from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Finally, Robert W. Baird raised their price target on shares of monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, monday.com presently has a consensus rating of “Moderate Buy” and an average target price of $310.48.

monday.com Price Performance

The stock has a market capitalization of $11.69 billion, a P/E ratio of 590.37, a PEG ratio of 5.41 and a beta of 1.30. The company’s 50 day simple moving average is $256.02 and its two-hundred day simple moving average is $259.37.

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

Institutional Investors Weigh In On monday.com

Several institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. bought a new position in monday.com in the third quarter valued at approximately $43,000. Toronto Dominion Bank acquired a new stake in shares of monday.com during the second quarter worth $120,000. Vestcor Inc increased its holdings in monday.com by 31.4% in the third quarter. Vestcor Inc now owns 519 shares of the company’s stock valued at $144,000 after purchasing an additional 124 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of monday.com by 645.7% in the 3rd quarter. Larson Financial Group LLC now owns 604 shares of the company’s stock valued at $168,000 after acquiring an additional 523 shares during the last quarter. Finally, Northwest & Ethical Investments L.P. boosted its position in shares of monday.com by 18.2% during the third quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company’s stock worth $181,000 after purchasing an additional 100 shares in the last quarter. 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.