monday.com (NASDAQ:MNDY) Shares Up 5.8% – Time to Buy?

Shares of monday.com Ltd. (NASDAQ:MNDY) rose 5.8% during trading on Tuesday . The company traded as high as $255.15 and last traded at $257.37. Approximately 331,751 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 788,848 shares. The stock had previously closed at $243.16.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Tigress Financial lifted their price objective on shares of monday.com from $340.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Jefferies Financial Group cut their price objective on monday.com from $400.00 to $360.00 and set a “buy” rating on the stock in a report on Monday. DA Davidson upgraded shares of monday.com from a “neutral” rating to a “buy” rating and set a $350.00 price objective for the company in a research note on Monday, March 17th. Robert W. Baird raised their target price on shares of monday.com from $275.00 to $335.00 and gave the stock a “neutral” rating in a report on Tuesday, February 11th. Finally, The Goldman Sachs Group boosted their price objective on monday.com from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, monday.com currently has an average rating of “Moderate Buy” and an average target price of $352.64.

monday.com Price Performance

The stock has a market cap of $12.71 billion, a PE ratio of 418.65, a price-to-earnings-growth ratio of 16.53 and a beta of 1.27. The stock’s fifty day moving average is $273.56 and its 200-day moving average is $270.34.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, February 10th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a net margin of 3.33% and a return on equity of 6.22%. On average, sell-side analysts expect that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On monday.com

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Stonebridge Financial Group LLC purchased a new stake in shares of monday.com in the 4th quarter valued at approximately $25,000. Arcadia Investment Management Corp MI acquired a new position in shares of monday.com during the fourth quarter worth $28,000. R Squared Ltd acquired a new stake in monday.com in the fourth quarter valued at $33,000. Signaturefd LLC boosted its position in shares of monday.com by 157.1% during the 4th quarter. Signaturefd LLC now owns 144 shares of the company’s stock worth $34,000 after acquiring an additional 88 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of monday.com by 64.8% in the 4th quarter. Global Retirement Partners LLC now owns 150 shares of the company’s stock valued at $35,000 after acquiring an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

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.