monday.com (NASDAQ:MNDY) Sees Large Volume Increase

monday.com Ltd. (NASDAQ:MNDY) saw unusually-strong trading volume on Monday . Approximately 415,250 shares changed hands during mid-day trading, a decline of 44% from the previous session’s volume of 744,182 shares.The stock last traded at $275.14 and had previously closed at $280.17.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Loop Capital boosted their price target on shares of monday.com from $245.00 to $285.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Barclays upped their price target on monday.com from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Bank of America boosted their price objective on monday.com from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Piper Sandler reiterated an “overweight” rating and issued a $300.00 price target (up previously from $270.00) on shares of monday.com in a research note on Monday, August 12th. Finally, UBS Group upped their price objective on monday.com from $240.00 to $280.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $285.79.

monday.com Price Performance

The firm has a market cap of $13.37 billion, a PE ratio of 737.29, a P/E/G ratio of 12.23 and a beta of 1.32. The stock has a 50-day moving average price of $245.95 and a 200 day moving average price of $227.17.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, August 12th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.01 by $0.23. monday.com had a return on equity of 4.74% and a net margin of 4.88%. The company had revenue of $236.11 million during the quarter, compared to analysts’ expectations of $227.96 million. As a group, equities research analysts anticipate that monday.com Ltd. will post 0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in MNDY. Ridgewood Investments LLC bought a new position in monday.com in the second quarter worth about $45,000. Gilliland Jeter Wealth Management LLC lifted its stake in monday.com by 72.9% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after buying an additional 102 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in shares of monday.com by 2.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 34,044 shares of the company’s stock valued at $65,000 after acquiring an additional 691 shares during the period. Opal Wealth Advisors LLC bought a new position in shares of monday.com during the second quarter worth about $69,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of monday.com by 373.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 393 shares of the company’s stock worth $74,000 after acquiring an additional 310 shares during the period. Institutional investors and hedge funds 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.