monday.com (NASDAQ:MNDY) Hits New 12-Month High – Still a Buy?

monday.com Ltd. (NASDAQ:MNDY)’s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $308.00 and last traded at $307.51, with a volume of 3132 shares trading hands. The stock had previously closed at $296.95.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price objective on shares of monday.com in a report on Thursday, September 26th. Capital One Financial started coverage on shares of monday.com in a report on Thursday, October 10th. They set an “overweight” rating and a $325.00 price objective on the stock. DA Davidson increased their price objective on shares of monday.com from $250.00 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Tigress Financial increased their price target on monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, The Goldman Sachs Group boosted their price target on shares of monday.com from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Five analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $306.10.

monday.com Trading Up 4.3 %

The company’s fifty day moving average is $275.43 and its 200 day moving average is $243.37. The company has a market cap of $14.96 billion, a P/E ratio of 385.41, a price-to-earnings-growth ratio of 14.06 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.23. The company had revenue of $236.11 million for the quarter, compared to the consensus estimate of $227.96 million. monday.com had a return on equity of 4.74% and a net margin of 4.88%. Analysts anticipate that monday.com Ltd. will post 0.5 EPS for the current year.

Institutional Investors Weigh In On monday.com

Several large investors have recently modified their holdings of the stock. Sei Investments Co. lifted its stake in shares of monday.com by 63.9% in the 1st quarter. Sei Investments Co. now owns 107,331 shares of the company’s stock valued at $24,243,000 after purchasing an additional 41,840 shares in the last quarter. Bessemer Group Inc. acquired a new position in shares of monday.com in the 1st quarter worth approximately $1,314,000. Swiss National Bank boosted its stake in monday.com by 4.1% in the 1st quarter. Swiss National Bank now owns 86,400 shares of the company’s stock worth $19,515,000 after purchasing an additional 3,400 shares during the period. Taylor Frigon Capital Management LLC purchased a new stake in shares of monday.com during the third quarter worth $1,311,000. Finally, China Universal Asset Management Co. Ltd. bought a new position in monday.com during the third quarter valued at about $1,667,000. 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.