monday.com (NASDAQ:MNDY) Shares Up 5.1%

monday.com Ltd. (NASDAQ:MNDY - Get Free Report)'s stock price was up 5.1% during mid-day trading on Thursday . The stock traded as high as $226.82 and last traded at $226.33. Approximately 192,333 shares traded hands during trading, a decline of 76% from the average daily volume of 807,289 shares. The stock had previously closed at $215.39.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MNDY shares. Tigress Financial increased their price objective on monday.com from $240.00 to $280.00 and gave the stock a "buy" rating in a report on Tuesday, March 5th. UBS Group increased their price objective on monday.com from $185.00 to $200.00 and gave the stock a "neutral" rating in a report on Thursday, December 7th. Oppenheimer increased their price objective on monday.com from $220.00 to $240.00 and gave the stock an "outperform" rating in a report on Tuesday, February 13th. JPMorgan Chase & Co. increased their price objective on monday.com from $230.00 to $270.00 and gave the stock an "overweight" rating in a report on Monday, March 25th. Finally, Bank of America started coverage on monday.com in a report on Monday, February 26th. They set a "buy" rating and a $280.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $232.43.

monday.com Stock Down 0.6 %

The stock has a market capitalization of $10.33 billion, a price-to-earnings ratio of -3,056.29 and a beta of 1.18. The company's 50-day simple moving average is $219.93 and its 200 day simple moving average is $185.39.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings results on Monday, February 12th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.33. The company had revenue of $202.60 million for the quarter, compared to the consensus estimate of $197.97 million. monday.com had a negative return on equity of 0.43% and a negative net margin of 0.26%. The firm's revenue was up 35.5% compared to the same quarter last year. During the same period last year, the business posted ($0.03) earnings per share. On average, equities analysts expect that monday.com Ltd. will post -0.16 earnings per share for the current fiscal year.

Institutional Investors Weigh In On monday.com

Several hedge funds and other institutional investors have recently made changes to their positions in MNDY. Price T Rowe Associates Inc. MD grew its position in shares of monday.com by 98.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,684,101 shares of the company's stock valued at $383,156,000 after purchasing an additional 1,332,770 shares during the last quarter. Whale Rock Capital Management LLC acquired a new stake in shares of monday.com in the second quarter valued at about $140,686,000. Jennison Associates LLC acquired a new stake in shares of monday.com in the fourth quarter valued at about $131,086,000. BlackRock Inc. lifted its stake in shares of monday.com by 577.1% in the second quarter. BlackRock Inc. now owns 761,969 shares of the company's stock valued at $130,464,000 after buying an additional 649,439 shares during the period. Finally, Holocene Advisors LP bought a new stake in shares of monday.com in the second quarter valued at about $91,783,000. 73.70% of the stock is owned by institutional investors and hedge funds.

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.