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

Shares of monday.com Ltd. (NASDAQ:MNDY) gapped up before the market opened on Wednesday . The stock had previously closed at $72.39, but opened at $75.35. monday.com shares last traded at $77.8340, with a volume of 140,792 shares changing hands.

Analyst Upgrades and Downgrades

MNDY has been the topic of a number of research reports. Zacks Research cut monday.com from a “strong-buy” rating to a “hold” rating in a report on Friday, May 1st. Oppenheimer set a $115.00 price objective on monday.com in a report on Monday, May 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of monday.com in a research report on Thursday, June 11th. Jefferies Financial Group reissued a “hold” rating on shares of monday.com in a report on Tuesday, May 12th. Finally, BTIG Research dropped their price target on monday.com from $135.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Seventeen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $126.48.

monday.com Price Performance

The business’s 50-day moving average price is $75.30 and its two-hundred day moving average price is $91.83. The firm has a market cap of $3.93 billion, a price-to-earnings ratio of 33.38, a price-to-earnings-growth ratio of 3.68 and a beta of 1.24.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Friday, March 13th. The company reported $1.15 earnings per share (EPS) for the quarter. The business had revenue of $351.26 million for the quarter. monday.com had a net margin of 9.17% and a return on equity of 5.10%. As a group, sell-side analysts forecast that monday.com Ltd. will post 1.59 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

Several hedge funds have recently made changes to their positions in the business. NewEdge Advisors LLC increased its stake in monday.com by 2,120.0% in the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after purchasing an additional 106 shares during the last quarter. Advisory Services Network LLC purchased a new position in monday.com during the third quarter worth about $28,000. EverSource Wealth Advisors LLC boosted its stake in monday.com by 498.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock worth $29,000 after buying an additional 354 shares during the last quarter. Quarry LP purchased a new stake in monday.com in the 4th quarter valued at about $29,000. Finally, Abound Wealth Management purchased a new stake in monday.com in the 4th quarter valued at about $30,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

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.