monday.com (NASDAQ:MNDY) Reaches New 52-Week High at $272.85

monday.com Ltd. (NASDAQ:MNDY)’s stock price reached a new 52-week high on Thursday . The stock traded as high as $272.85 and last traded at $271.48, with a volume of 42378 shares traded. The stock had previously closed at $261.17.

Analyst Upgrades and Downgrades

MNDY has been the topic of several research reports. William Blair reissued an “outperform” rating on shares of monday.com in a research note on Monday, June 24th. Loop Capital raised their price objective on shares of monday.com from $245.00 to $285.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Bank of America lifted their price target on shares of monday.com from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Barclays lifted their price target on shares of monday.com from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Finally, Needham & Company LLC lifted their price objective on shares of monday.com from $250.00 to $300.00 and gave the company a “buy” rating in a report on Monday, August 12th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $285.79.

monday.com Trading Up 2.1 %

The business’s fifty day moving average is $244.98 and its 200 day moving average is $226.74. The firm has a market capitalization of $13.53 billion, a P/E ratio of 737.29, a P/E/G ratio of 12.23 and a beta of 1.32.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, August 12th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $227.96 million. As a group, sell-side analysts predict that monday.com Ltd. will post 0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in MNDY. WCM Investment Management LLC purchased a new position in shares of monday.com in the first quarter worth approximately $728,521,000. Baillie Gifford & Co. purchased a new position in shares of monday.com in the first quarter worth approximately $76,534,000. Clearbridge Investments LLC increased its position in shares of monday.com by 2,851.5% in the first quarter. Clearbridge Investments LLC now owns 344,525 shares of the company’s stock worth $77,818,000 after acquiring an additional 332,852 shares in the last quarter. Westfield Capital Management Co. LP purchased a new position in shares of monday.com in the fourth quarter worth approximately $58,689,000. Finally, Norges Bank purchased a new position in shares of monday.com in the fourth quarter worth approximately $57,754,000. 73.70% of the stock is owned by hedge funds and other institutional investors.

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.