monday.com (NASDAQ:MNDY) Sees Unusually-High Trading Volume After Earnings Beat

Key Points

• monday.com reported a stronger than expected earnings per share (EPS) of $1.09, significantly surpassing the consensus estimate of $0.84, alongside quarterly revenue of $299.01 million.
• Following the earnings report, the stock experienced a rise in trading volume with 860,080 shares changing hands, indicating increased investor interest.
• Analysts have adjusted their price targets for monday.com, with estimates ranging as high as $365.00 from Wells Fargo, although some estimates have decreased.

Shares of monday.com Ltd. (NASDAQ:MNDY - Get Free Report) saw strong trading volume on Tuesday following a stronger than expected earnings report. 860,080 shares changed hands during mid-day trading, an increase of 2% from the previous session's volume of 844,020 shares.The stock last traded at $179.15 and had previously closed at $174.13.

The company reported $1.09 EPS for the quarter, topping the consensus estimate of $0.84 by $0.25. monday.com had a net margin of 5.08% and a return on equity of 7.87%. The business had revenue of $299.01 million during the quarter, compared to the consensus estimate of $293.60 million. During the same period in the previous year, the firm posted $0.94 earnings per share. The business's revenue for the quarter was up 26.6% compared to the same quarter last year.

Analysts Set New Price Targets

Several brokerages recently issued reports on MNDY. Wells Fargo & Company set a $365.00 target price on shares of monday.com and gave the stock an "overweight" rating in a report on Friday, June 13th. Needham & Company LLC decreased their target price on shares of monday.com from $400.00 to $250.00 and set a "buy" rating for the company in a research report on Monday. Loop Capital decreased their target price on shares of monday.com from $385.00 to $375.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. JPMorgan Chase & Co. decreased their target price on shares of monday.com from $400.00 to $350.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. Finally, Robert W. Baird decreased their target price on shares of monday.com from $310.00 to $240.00 and set an "outperform" rating for the company in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $322.91.

Institutional Trading of monday.com

Several large investors have recently bought and sold shares of the business. Spire Wealth Management grew its stake in monday.com by 7.9% during the 1st quarter. Spire Wealth Management now owns 572 shares of the company's stock valued at $139,000 after acquiring an additional 42 shares in the last quarter. CWM LLC grew its stake in monday.com by 31.3% during the 2nd quarter. CWM LLC now owns 210 shares of the company's stock valued at $66,000 after acquiring an additional 50 shares in the last quarter. Farther Finance Advisors LLC grew its stake in monday.com by 32.7% during the 1st quarter. Farther Finance Advisors LLC now owns 211 shares of the company's stock valued at $55,000 after acquiring an additional 52 shares in the last quarter. Dakota Wealth Management grew its stake in shares of monday.com by 3.0% in the 2nd quarter. Dakota Wealth Management now owns 1,793 shares of the company's stock valued at $564,000 after buying an additional 52 shares during the period. Finally, Mesirow Financial Investment Management Inc. grew its stake in shares of monday.com by 6.1% in the 1st quarter. Mesirow Financial Investment Management Inc. now owns 950 shares of the company's stock valued at $231,000 after buying an additional 55 shares during the period. Hedge funds and other institutional investors own 73.70% of the company's stock.

monday.com Stock Performance

The firm's 50 day moving average price is $287.11 and its two-hundred day moving average price is $276.86. The firm has a market cap of $8.92 billion, a PE ratio of 179.34, a PEG ratio of 89.75 and a beta of 1.27.

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.

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