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

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

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. TD Cowen increased their price objective on shares of monday.com from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Tigress Financial upped their target price on monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Robert W. Baird increased 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. UBS Group increased their target price on shares of monday.com from $240.00 to $280.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Finally, Oppenheimer raised their price target 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. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $306.10.

monday.com Trading Up 4.3 %

The business has a 50 day moving average of $275.43 and a 200-day moving average of $243.37. The stock has a market cap of $14.96 billion, a PE ratio of 385.41, a P/E/G ratio of 14.06 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, August 12th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.01 by $0.23. The business had revenue of $236.11 million during the quarter, compared to analysts’ expectations of $227.96 million. monday.com had a return on equity of 4.74% and a net margin of 4.88%. Research analysts expect that monday.com Ltd. will post 0.5 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. CIBC Asset Management Inc raised its holdings in shares of monday.com by 6.1% during the third quarter. CIBC Asset Management Inc now owns 3,512 shares of the company’s stock worth $976,000 after purchasing an additional 202 shares during the period. Curi RMB Capital LLC boosted its stake in monday.com by 5.7% during the 3rd quarter. Curi RMB Capital LLC now owns 32,205 shares of the company’s stock valued at $8,946,000 after purchasing an additional 1,725 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong bought a new stake in monday.com in the third quarter worth about $2,840,000. Plato Investment Management Ltd bought a new stake in monday.com during the third quarter worth approximately $673,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of monday.com by 3.2% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,691 shares of the company’s stock worth $18,525,000 after purchasing an additional 2,085 shares during the period. 73.70% of the stock is 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.