monday.com (NASDAQ:MNDY) Hits New 52-Week High – Still a Buy?

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

Wall Street Analysts Forecast Growth

MNDY has been the subject of a number of recent research reports. Piper Sandler increased their target price on monday.com from $300.00 to $340.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Loop Capital upped their target price on shares of monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. The Goldman Sachs Group lifted their price target on shares of monday.com from $300.00 to $340.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Citigroup upped their price objective on shares of monday.com from $296.00 to $327.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Finally, Baird R W raised shares of monday.com to a “hold” rating in a report on Tuesday, July 23rd. Five 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 currently has a consensus rating of “Moderate Buy” and an average price target of $303.35.

monday.com Stock Up 0.8 %

The stock has a market cap of $14.47 billion, a P/E ratio of 374.51, a PEG ratio of 13.58 and a beta of 1.32. The stock has a fifty day simple moving average of $270.78 and a 200-day simple moving average of $237.51.

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

Institutional Investors Weigh In On monday.com

A number of hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of monday.com during the third quarter worth $43,000. Ridgewood Investments LLC bought a new position in monday.com during the 2nd quarter worth about $45,000. Gilliland Jeter Wealth Management LLC raised its stake in shares of monday.com by 72.9% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after purchasing an additional 102 shares during the period. Opal Wealth Advisors LLC bought a new stake in shares of monday.com in the second quarter valued at about $69,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of monday.com by 373.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 393 shares of the company’s stock worth $74,000 after buying an additional 310 shares during the period. Institutional investors and hedge funds 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.