Short Interest in monday.com Ltd. (NASDAQ:MNDY) Grows By 23.8%

Key Points

• Short Interest Surge: monday.com Ltd. experienced a 23.8% increase in short interest, reaching 3,170,000 shares by August 31, indicating rising bearish sentiment among investors.
• Analyst Ratings and Price Targets: The average rating for monday.com is "Moderate Buy," with price targets ranging from $270 to $365 set by various analysts following the company's latest earnings report.
• Performance Highlights: The company reported a revenue increase of 26.6% year-over-year, with a quarterly EPS of $1.09, surpassing estimates and showcasing strong financial growth.

monday.com Ltd. (NASDAQ:MNDY - Get Free Report) was the target of a large increase in short interest in August. As of August 31st, there was short interest totaling 3,170,000 shares, an increase of 23.8% from the August 15th total of 2,560,000 shares. Approximately 7.7% of the shares of the stock are short sold. Based on an average trading volume of 1,010,000 shares, the days-to-cover ratio is presently 3.1 days. Based on an average trading volume of 1,010,000 shares, the days-to-cover ratio is presently 3.1 days. Approximately 7.7% of the shares of the stock are short sold.

Analyst Ratings Changes

MNDY has been the subject of several recent research reports. Wall Street Zen lowered monday.com from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Barclays cut their price objective on monday.com from $345.00 to $258.00 and set an "overweight" rating for the company in a report on Tuesday, August 12th. Citigroup cut their price objective on monday.com from $381.00 to $326.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Bank of America reiterated a "neutral" rating and set a $205.00 price objective (down from $240.00) on shares of monday.com in a report on Thursday, August 21st. Finally, Robert W. Baird cut their price objective on monday.com from $310.00 to $240.00 and set an "outperform" rating for the company in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $296.86.

Institutional Investors Weigh In On monday.com

Several hedge funds and other institutional investors have recently made changes to their positions in the business. ASR Vermogensbeheer N.V. bought a new position in monday.com during the first quarter worth about $25,000. Summit Securities Group LLC bought a new position in monday.com in the 1st quarter worth approximately $25,000. NewEdge Advisors LLC raised its position in monday.com by 2,120.0% in the 1st quarter. NewEdge Advisors LLC now owns 111 shares of the company's stock worth $27,000 after purchasing an additional 106 shares during the last quarter. Grove Bank & Trust acquired a new stake in monday.com during the 1st quarter worth $30,000. Finally, First Horizon Advisors Inc. grew its holdings in monday.com by 72.9% during the 1st quarter. First Horizon Advisors Inc. now owns 166 shares of the company's stock worth $40,000 after acquiring an additional 70 shares during the period. 73.70% of the stock is owned by institutional investors and hedge funds.

monday.com Stock Performance

Shares of NASDAQ:MNDY traded up $12.97 during midday trading on Friday, hitting $219.15. The company's stock had a trading volume of 2,336,362 shares, compared to its average volume of 1,246,428. The stock has a market capitalization of $11.13 billion, a price-to-earnings ratio of 296.15, a PEG ratio of 13.17 and a beta of 1.25. The stock's 50 day simple moving average is $221.20 and its 200 day simple moving average is $256.51. monday.com has a fifty-two week low of $166.22 and a fifty-two week high of $342.64.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.25. The company had revenue of $299.01 million for the quarter, compared to the consensus estimate of $293.60 million. monday.com had a return on equity of 6.32% and a net margin of 3.63%.The firm's revenue was up 26.6% compared to the same quarter last year. During the same period last year, the business posted $0.94 earnings per share. monday.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, analysts anticipate that monday.com will post 0.46 EPS for the current year.

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.