monday.com Sees Unusually High Options Volume (NASDAQ:MNDY)

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on MNDY. Piper Sandler raised their target price on monday.com from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Monday. DA Davidson restated a “neutral” rating and issued a $300.00 target price on shares of monday.com in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of monday.com from $270.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Oppenheimer upped their price objective on shares of monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Finally, Barclays boosted their target price on shares of monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.10.

Hedge Funds Weigh In On monday.com

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in monday.com in the third quarter valued at about $43,000. Ridgewood Investments LLC acquired a new position in monday.com during the second quarter valued at approximately $45,000. Gilliland Jeter Wealth Management LLC increased 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 purchasing an additional 102 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in monday.com in the second quarter worth $69,000. Finally, Industrial Alliance Investment Management Inc. boosted its position in shares of monday.com by 741.7% during the first quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock worth $91,000 after purchasing an additional 356 shares in the last quarter. 73.70% of the stock is owned by institutional investors.

monday.com Stock Down 5.3 %

MNDY stock opened at $260.59 on Wednesday. The business has a fifty day moving average of $279.07 and a 200-day moving average of $246.86. The company has a market cap of $12.58 billion, a P/E ratio of 339.61, a PEG ratio of 15.22 and a beta of 1.31. monday.com has a twelve month low of $150.10 and a twelve month high of $324.99.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. monday.com had a net margin of 4.88% and a return on equity of 4.74%. The company had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. During the same period in the prior year, the company posted $0.15 EPS. The company’s revenue was up 49.5% compared to the same quarter last year. As a group, equities research analysts anticipate that monday.com will post 0.5 earnings per share for the current fiscal year.

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.