monday.com Ltd. (NASDAQ:MNDY) Short Interest Update

monday.com Ltd. (NASDAQ:MNDY) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 3,040,000 shares, an increase of 19.2% from the February 28th total of 2,550,000 shares. Currently, 7.9% of the shares of the company are sold short. Based on an average daily volume of 1,050,000 shares, the short-interest ratio is presently 2.9 days.

monday.com Stock Performance

Shares of NASDAQ MNDY traded up $4.42 during trading on Wednesday, reaching $266.60. The stock had a trading volume of 642,185 shares, compared to its average volume of 792,483. The business’s 50-day moving average price is $273.31 and its 200-day moving average price is $270.37. monday.com has a fifty-two week low of $174.75 and a fifty-two week high of $342.64. The company has a market cap of $13.54 billion, a P/E ratio of 444.33, a PEG ratio of 16.53 and a beta of 1.27.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a return on equity of 6.22% and a net margin of 3.33%. Analysts forecast that monday.com will post 0.46 EPS for the current fiscal year.

Institutional Investors Weigh In On monday.com

A number of hedge funds have recently added to or reduced their stakes in MNDY. Wellington Management Group LLP grew its stake in shares of monday.com by 49.2% in the fourth quarter. Wellington Management Group LLP now owns 41,959 shares of the company’s stock worth $9,879,000 after acquiring an additional 13,827 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in monday.com in the fourth quarter valued at $1,905,000. Employees Retirement System of Texas acquired a new position in monday.com during the 4th quarter worth $187,000. Polar Asset Management Partners Inc. purchased a new stake in monday.com during the 4th quarter worth about $9,629,000. Finally, Mackenzie Financial Corp raised its position in monday.com by 18.2% in the 4th quarter. Mackenzie Financial Corp now owns 2,430 shares of the company’s stock valued at $572,000 after purchasing an additional 374 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Robert W. Baird upped their price objective on shares of monday.com from $275.00 to $335.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 11th. Piper Sandler upped their price target on monday.com from $345.00 to $385.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Scotiabank dropped their price objective on monday.com from $400.00 to $315.00 and set a “sector outperform” rating on the stock in a report on Monday, March 17th. Jefferies Financial Group cut their price objective on monday.com from $400.00 to $360.00 and set a “buy” rating for the company in a research report on Monday. Finally, Loop Capital decreased their target price on monday.com from $310.00 to $300.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, monday.com presently has an average rating of “Moderate Buy” and an average price target of $352.64.

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.