monday.com Ltd. (NASDAQ:MNDY) Sees Significant Growth in Short Interest

monday.com Ltd. (NASDAQ:MNDY) saw a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 3,040,000 shares, a growth of 19.2% from the February 28th total of 2,550,000 shares. Approximately 7.9% of the company’s stock are short sold. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is currently 2.9 days.

Wall Street Analyst Weigh In

Several research firms recently commented on MNDY. KeyCorp raised shares of monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 price objective on the stock in a research report on Tuesday, February 11th. Canaccord Genuity Group increased their price objective on monday.com from $310.00 to $375.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. Jefferies Financial Group lowered their target price on monday.com from $400.00 to $360.00 and set a “buy” rating on the stock in a research note on Monday. Citigroup raised shares of monday.com from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $302.00 to $298.00 in a research note on Thursday, January 16th. Finally, DA Davidson raised shares of monday.com from a “neutral” rating to a “buy” rating and set a $350.00 target price on the stock in a research report on Monday, March 17th. Three equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $352.64.

Institutional Investors Weigh In On monday.com

A number of large investors have recently bought and sold shares of MNDY. Wellington Management Group LLP raised its position in monday.com by 49.2% in the 4th quarter. Wellington Management Group LLP now owns 41,959 shares of the company’s stock valued at $9,879,000 after purchasing an additional 13,827 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new position in shares of monday.com in the fourth quarter worth about $1,905,000. Employees Retirement System of Texas bought a new position in monday.com in the 4th quarter worth approximately $187,000. Polar Asset Management Partners Inc. acquired a new position in shares of monday.com during the fourth quarter valued at $9,629,000. Finally, Mackenzie Financial Corp raised its stake in shares of monday.com by 18.2% during the fourth quarter. Mackenzie Financial Corp now owns 2,430 shares of the company’s stock worth $572,000 after buying an additional 374 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors.

monday.com Price Performance

Shares of monday.com stock traded down $28.20 during trading on Thursday, hitting $238.40. 673,303 shares of the company’s stock traded hands, compared to its average volume of 792,807. The company has a market cap of $12.10 billion, a PE ratio of 397.33, a PEG ratio of 16.53 and a beta of 1.27. monday.com has a twelve month low of $174.75 and a twelve month high of $342.64. The firm’s fifty day moving average price is $273.56 and its 200 day moving average price is $270.34.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.50 earnings per share (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%. As a group, equities research analysts anticipate that monday.com will post 0.46 earnings per share for the current year.

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.