Stock Traders Buy Large Volume of Call Options on monday.com (NASDAQ:MNDY)

monday.com Ltd. (NASDAQ:MNDY) was the recipient of some unusual options trading activity on Monday. Stock investors bought 8,091 call options on the stock. This is an increase of 302% compared to the average daily volume of 2,015 call options.

monday.com Trading Down 15.1 %

Shares of MNDY stock opened at $275.21 on Tuesday. monday.com has a 12-month low of $150.10 and a 12-month high of $324.99. The firm’s 50 day moving average is $279.07 and its 200 day moving average is $246.86. The stock has a market capitalization of $13.29 billion, a P/E ratio of 344.01, a P/E/G ratio of 15.22 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.23. monday.com had a net margin of 4.88% and a return on equity of 4.74%. The company had revenue of $236.11 million for the quarter, compared to analysts’ expectations of $227.96 million. As a group, equities analysts predict that monday.com will post 0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on MNDY. The Goldman Sachs Group increased their price target on shares of monday.com from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Oppenheimer increased their price target on shares of monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. DA Davidson increased their price target on shares of monday.com from $250.00 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Canaccord Genuity Group increased their price target on shares of monday.com from $250.00 to $295.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Finally, Barclays increased their price target on shares of monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $306.60.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MNDY. Mirae Asset Global Investments Co. Ltd. bought a new position in monday.com in the third quarter worth approximately $43,000. Ridgewood Investments LLC bought a new position in monday.com in the second quarter worth approximately $45,000. Gilliland Jeter Wealth Management LLC raised its position in monday.com by 72.9% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock worth $58,000 after acquiring an additional 102 shares during the period. Opal Wealth Advisors LLC bought a new position in monday.com in the second quarter worth approximately $69,000. Finally, Industrial Alliance Investment Management Inc. raised its position in monday.com by 741.7% in the first quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock worth $91,000 after acquiring an additional 356 shares during the period. 73.70% of the stock is currently owned by institutional investors.

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.