Stock Traders Buy Large Volume of Call Options on monday.com (NASDAQ:MNDY)

monday.com Ltd. (NASDAQ:MNDY) saw unusually large options trading activity on Monday. Traders bought 8,091 call options on the company. This is an increase of approximately 302% compared to the average volume of 2,015 call options.

Institutional Trading of monday.com

Several institutional investors have recently added to or reduced their stakes in the business. Mercer Global Advisors Inc. ADV boosted its position in monday.com by 4.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 1,124 shares of the company’s stock valued at $271,000 after buying an additional 47 shares during the period. Crossmark Global Holdings Inc. boosted its position in monday.com by 4.0% during the second quarter. Crossmark Global Holdings Inc. now owns 1,303 shares of the company’s stock valued at $314,000 after buying an additional 50 shares during the period. Avior Wealth Management LLC boosted its position in 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 buying an additional 67 shares during the period. FDx Advisors Inc. boosted its position in monday.com by 4.7% during the second 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. raised its stake in shares of monday.com by 4.6% during the second quarter. Oppenheimer Asset Management Inc. now owns 2,065 shares of the company’s stock valued at $497,000 after acquiring an additional 91 shares during the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

monday.com Stock Performance

Shares of NASDAQ:MNDY opened at $275.21 on Tuesday. monday.com has a 52-week low of $150.10 and a 52-week high of $324.99. The firm has a fifty day moving average of $279.07 and a 200 day moving average of $246.86. The firm has a market capitalization of $13.29 billion, a PE ratio of 344.01, a price-to-earnings-growth ratio of 15.22 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.23. monday.com had a net margin of 4.88% and a return on equity of 4.74%. The business had revenue of $236.11 million during the quarter, compared to analyst estimates of $227.96 million. On average, sell-side analysts forecast that monday.com will post 0.5 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on MNDY. TD Cowen lifted their price target on shares of monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Piper Sandler lifted their price target on shares of monday.com from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday. Tigress Financial boosted their target price on shares of monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Baird R W raised shares of monday.com to a “hold” rating in a report on Tuesday, July 23rd. Finally, DA Davidson boosted their target price 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 research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $306.60.

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.