monday.com (NASDAQ:MNDY) Sees Strong Trading Volume – What’s Next?

monday.com Ltd. (NASDAQ:MNDY) shares saw unusually-high trading volume on Wednesday . Approximately 481,258 shares were traded during mid-day trading, a decline of 34% from the previous session’s volume of 729,776 shares.The stock last traded at $238.38 and had previously closed at $251.80.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Canaccord Genuity Group boosted their price target on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Barclays lifted their price target on monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. KeyCorp cut shares of monday.com from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Oppenheimer boosted their target price on shares of monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. 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 research report on Tuesday, November 12th. Six investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $309.62.

monday.com Trading Down 3.1 %

The company has a market capitalization of $10.85 billion, a price-to-earnings ratio of 548.02, a price-to-earnings-growth ratio of 7.75 and a beta of 1.25. The stock has a 50-day simple moving average of $283.18 and a 200-day simple moving average of $258.47.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The firm had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. During the same period in the prior year, the firm posted $0.15 EPS. The firm’s revenue was up 49.5% compared to the same quarter last year. On average, research analysts forecast that monday.com Ltd. will post 0.85 EPS for the current year.

Hedge Funds Weigh In On monday.com

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV increased its stake in shares of monday.com by 4.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 1,124 shares of the company’s stock valued at $271,000 after purchasing an additional 47 shares during the period. Crossmark Global Holdings Inc. grew its stake in shares of monday.com by 4.0% in the second quarter. Crossmark Global Holdings Inc. now owns 1,303 shares of the company’s stock worth $314,000 after purchasing an additional 50 shares in the last quarter. Avior Wealth Management LLC raised its stake in shares of monday.com by 2.6% during the third quarter. Avior Wealth Management LLC now owns 2,611 shares of the company’s stock valued at $725,000 after purchasing an additional 67 shares in the last quarter. FDx Advisors Inc. increased its stake in monday.com by 4.7% during the 2nd quarter. FDx Advisors Inc. now owns 2,000 shares of the company’s stock valued at $482,000 after buying an additional 90 shares during the period. Finally, Oppenheimer Asset Management Inc. lifted its stake in shares of monday.com by 4.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,065 shares of the company’s stock worth $497,000 after acquiring an additional 91 shares during the period. 73.70% of the stock is currently owned by institutional investors and hedge funds.

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.