monday.com (NASDAQ:MNDY) Shares Gap Up – What’s Next?

monday.com Ltd. (NASDAQ:MNDY) shares gapped up prior to trading on Thursday . The stock had previously closed at $234.15, but opened at $241.65. monday.com shares last traded at $239.92, with a volume of 97,102 shares traded.

Analyst Ratings Changes

A number of brokerages have issued reports on MNDY. Barclays upped their price objective on monday.com from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Loop Capital decreased their price target on monday.com from $310.00 to $300.00 and set a “buy” rating on the stock in a report on Monday, December 23rd. TD Cowen lifted their price objective on shares of monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Capital One Financial assumed coverage on shares of monday.com in a research report on Thursday, October 10th. They set an “overweight” rating and a $325.00 price objective on the stock. Finally, Needham & Company LLC raised their target price on shares of monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $312.65.

monday.com Stock Up 0.8 %

The company has a market capitalization of $11.40 billion, a PE ratio of 575.93, a price-to-earnings-growth ratio of 5.41 and a beta of 1.30. The stock’s 50 day moving average is $260.86 and its two-hundred day moving average is $259.67.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.24. The firm had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The company’s revenue was up 49.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.15 EPS. On average, sell-side analysts predict that monday.com Ltd. will post 0.85 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. FMR LLC boosted its position in monday.com by 112.0% during the third quarter. FMR LLC now owns 1,512,094 shares of the company’s stock valued at $420,014,000 after purchasing an additional 798,791 shares in the last quarter. Jennison Associates LLC boosted its holdings in shares of monday.com by 77.5% in the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after buying an additional 318,837 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in shares of monday.com by 431.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock worth $107,176,000 after buying an additional 313,279 shares during the last quarter. 1832 Asset Management L.P. raised its stake in shares of monday.com by 34.4% during the 2nd quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock worth $160,707,000 after acquiring an additional 170,800 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of monday.com during the 2nd quarter worth approximately $28,747,000. 73.70% of the stock is owned by institutional investors.

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.