monday.com (NASDAQ:MNDY) Stock Jumps 5.1% - Still a Buy?

Key Points

• monday.com shares rose 5.1% to approximately $79.94, though trading volume was 92% below the average daily level.
• The company exceeded quarterly expectations, reporting adjusted EPS of $1.48 versus the $1.11 consensus and revenue of $364.62 million, up 21.9% year over year.
• Analyst sentiment remains moderately bullish, with a consensus “Moderate Buy” rating and a $111.70 target price, despite several recent rating and price-target reductions.

monday.com Ltd. (NASDAQ:MNDY - Get Free Report)'s share price rose 5.1% during trading on Wednesday. The company traded as high as $80.75 and last traded at $79.9430. Approximately 146,400 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,847,412 shares. The stock had previously closed at $76.05.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on MNDY shares. Wells Fargo & Company lowered their price objective on shares of monday.com from $130.00 to $120.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 11th. Wall Street Zen lowered monday.com from a "buy" rating to a "hold" rating in a report on Sunday. Jefferies Financial Group reaffirmed a "hold" rating and issued a $95.00 target price on shares of monday.com in a research report on Monday, August 10th. TD Cowen reiterated a "buy" rating and set a $110.00 price target on shares of monday.com in a report on Tuesday, August 11th. Finally, Cantor Fitzgerald lowered monday.com from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $112.00 to $90.00 in a research report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, monday.com currently has a consensus rating of "Moderate Buy" and a consensus target price of $111.70.

monday.com Trading Up 4.4%

The firm's fifty day moving average price is $88.66 and its 200 day moving average price is $79.32. The firm has a market capitalization of $4.06 billion, a PE ratio of 33.71, a PEG ratio of 1.85 and a beta of 1.15.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its quarterly earnings results on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, topping analysts' consensus estimates of $1.11 by $0.37. The business had revenue of $364.62 million for the quarter, compared to the consensus estimate of $355.55 million. monday.com had a net margin of 8.87% and a return on equity of 9.09%. monday.com's revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.09 earnings per share. As a group, research analysts expect that monday.com Ltd. will post 2.25 EPS for the current year.

Institutional Investors Weigh In On monday.com

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital World Investors increased its holdings in monday.com by 91.4% in the fourth quarter. Capital World Investors now owns 3,286,461 shares of the company's stock worth $484,950,000 after buying an additional 1,569,198 shares during the last quarter. Renaissance Technologies LLC lifted its stake in monday.com by 93.3% in the first quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company's stock valued at $150,797,000 after acquiring an additional 1,052,900 shares during the last quarter. Norges Bank acquired a new stake in monday.com in the fourth quarter valued at approximately $79,789,000. Geode Capital Management LLC grew its position in monday.com by 10.8% in the fourth quarter. Geode Capital Management LLC now owns 438,076 shares of the company's stock worth $64,295,000 after acquiring an additional 42,655 shares in the last quarter. Finally, Ibex Investors LLC grew its position in monday.com by 56.7% in the fourth quarter. Ibex Investors LLC now owns 282,000 shares of the company's stock worth $41,612,000 after acquiring an additional 102,000 shares in the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

monday.com Company Profile

monday.com Ltd. is a software company that provides cloud-based work management and productivity solutions for organizations of various sizes. Its platform is designed to help teams plan projects, manage workflows, coordinate tasks, track progress and collaborate across departments.

The company's product portfolio includes monday work management, monday CRM, monday dev and monday service. These products support functions such as project and portfolio management, customer relationship management, software development, IT service management and business process automation.

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