monday.com (NASDAQ:MNDY) Reaches New 52-Week High – What’s Next?

Shares of monday.com Ltd. (NASDAQ:MNDY) hit a new 52-week high on Thursday . The stock traded as high as $294.88 and last traded at $294.88, with a volume of 289582 shares traded. The stock had previously closed at $282.52.

Wall Street Analyst Weigh In

Several brokerages have weighed in on MNDY. TD Cowen upped their target price on monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Robert W. Baird upped their target price on monday.com from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Citigroup upped their target price on monday.com from $296.00 to $327.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Capital One Financial assumed coverage on shares of monday.com in a report on Thursday, October 10th. They issued an “overweight” rating and a $325.00 target price for the company. Finally, DA Davidson raised their price target on shares of monday.com from $250.00 to $300.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, monday.com presently has an average rating of “Moderate Buy” and a consensus price target of $303.35.

monday.com Trading Up 4.3 %

The firm’s 50-day moving average is $269.32 and its two-hundred day moving average is $236.51. The stock has a market cap of $14.23 billion, a price-to-earnings ratio of 770.53, a P/E/G ratio of 13.68 and a beta of 1.32.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, August 12th. The company reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.01 by $0.23. The company had revenue of $236.11 million during the quarter, compared to the consensus estimate of $227.96 million. monday.com had a net margin of 4.88% and a return on equity of 4.74%. On average, analysts predict that monday.com Ltd. will post 0.49 earnings per share for the current year.

Hedge Funds Weigh In On monday.com

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MNDY. Wellington Management Group LLP acquired a new stake in monday.com during the 4th quarter worth $1,405,000. PNC Financial Services Group Inc. raised its position in shares of monday.com by 373.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 393 shares of the company’s stock valued at $74,000 after buying an additional 310 shares during the last quarter. Los Angeles Capital Management LLC acquired a new position in monday.com during the first quarter worth approximately $226,000. Park Avenue Securities LLC acquired a new position in monday.com during the first quarter worth approximately $364,000. Finally, Artemis Investment Management LLP purchased a new stake in monday.com during the first quarter worth approximately $8,201,000. Hedge funds and other institutional investors own 73.70% of the company’s stock.

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.