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

monday.com Ltd. (NASDAQ:MNDY) was the recipient of a large growth in short interest in the month of February. As of February 13th, there was short interest totaling 5,024,842 shares, a growth of 19.9% from the January 29th total of 4,191,242 shares. Based on an average daily volume of 5,320,174 shares, the short-interest ratio is presently 0.9 days. Currently, 12.7% of the company’s stock are sold short. Currently, 12.7% of the company’s stock are sold short. Based on an average daily volume of 5,320,174 shares, the short-interest ratio is presently 0.9 days.

monday.com Stock Performance

monday.com stock opened at $73.56 on Wednesday. The business’s 50-day simple moving average is $111.95 and its two-hundred day simple moving average is $154.41. The company has a market cap of $3.73 billion, a PE ratio of 32.69, a PEG ratio of 1.31 and a beta of 1.31. monday.com has a fifty-two week low of $68.68 and a fifty-two week high of $316.98.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, February 9th. The company reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. The firm had revenue of $333.88 million during the quarter, compared to the consensus estimate of $329.71 million. monday.com had a return on equity of 4.80% and a net margin of 9.64%.The company’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 earnings per share. As a group, analysts predict that monday.com will post 0.46 EPS for the current fiscal year.

Hedge Funds Weigh In On monday.com

Institutional investors have recently modified their holdings of the stock. DGS Capital Management LLC boosted its stake in shares of monday.com by 37.0% in the fourth quarter. DGS Capital Management LLC now owns 1,922 shares of the company’s stock worth $284,000 after buying an additional 519 shares during the last quarter. Avory & Company LLC purchased a new stake in monday.com during the fourth quarter worth $337,000. T. Rowe Price Investment Management Inc. grew its position in monday.com by 15.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,274,910 shares of the company’s stock valued at $188,126,000 after buying an additional 165,996 shares during the period. Sunstone Asset Management L.P. purchased a new position in shares of monday.com in the 4th quarter valued at about $1,718,000. Finally, Empowered Funds LLC purchased a new stake in monday.com during the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on MNDY shares. KeyCorp dropped their target price on monday.com from $220.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 10th. Barclays set a $115.00 target price on shares of monday.com in a report on Tuesday, February 10th. Cantor Fitzgerald lowered their price target on shares of monday.com from $148.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, February 10th. UBS Group reduced their price objective on shares of monday.com from $140.00 to $93.00 and set a “neutral” rating for the company in a research note on Tuesday, February 10th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $90.00 price target (down from $175.00) on shares of monday.com in a research report on Tuesday, February 10th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.38.

About monday.com

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.