Investors Purchase High Volume of Call Options on monday.com (NASDAQ:MNDY)

monday.com Ltd. (NASDAQ:MNDY) was the recipient of some unusual options trading on Monday. Investors bought 11,749 call options on the company. This represents an increase of approximately 408% compared to the typical daily volume of 2,311 call options.

Analyst Ratings Changes

Several analysts have issued reports on MNDY shares. KeyCorp cut monday.com from an “overweight” rating to a “sector weight” rating in a research note on Friday, December 13th. Needham & Company LLC raised their price target on shares of monday.com from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday. Oppenheimer increased their price objective on shares of monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. William Blair reiterated an “outperform” rating on shares of monday.com in a research note on Wednesday, December 18th. Finally, Citigroup upgraded shares of monday.com from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $302.00 to $298.00 in a research report on Thursday, January 16th. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.77.

monday.com Price Performance

NASDAQ:MNDY opened at $326.58 on Tuesday. The firm has a market capitalization of $15.77 billion, a P/E ratio of 796.54, a PEG ratio of 7.67 and a beta of 1.31. The company’s 50-day simple moving average is $250.37 and its 200 day simple moving average is $262.04. monday.com has a one year low of $174.75 and a one year high of $342.64.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, February 10th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a return on equity of 4.99% and a net margin of 2.39%. On average, equities research analysts expect that monday.com will post 0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

Institutional investors and hedge funds have recently bought and sold shares of the company. Truist Financial Corp grew its position in shares of monday.com by 4.1% during the 2nd quarter. Truist Financial Corp now owns 4,993 shares of the company’s stock valued at $1,202,000 after acquiring an additional 195 shares during the period. Sanctuary Advisors LLC purchased a new position in monday.com during the second quarter valued at $285,000. Inspire Investing LLC acquired a new stake in shares of monday.com in the third quarter valued at about $870,000. Sapient Capital LLC purchased a new stake in shares of monday.com during the third quarter worth about $1,282,000. Finally, Chicago Capital LLC raised its position in shares of monday.com by 18.9% during the 3rd quarter. Chicago Capital LLC now owns 1,795 shares of the company’s stock worth $499,000 after purchasing an additional 285 shares during the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

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.