monday.com (NASDAQ:MNDY) Trading Down 6.4% – What’s Next?
by Scott Moore · The Cerbat Gemmonday.com Ltd. (NASDAQ:MNDY – Get Free Report)’s stock price fell 6.4% during trading on Wednesday . The stock traded as low as $130.34 and last traded at $130.3450. 1,858,966 shares changed hands during mid-day trading, an increase of 33% from the average session volume of 1,400,537 shares. The stock had previously closed at $139.22.
Analysts Set New Price Targets
Several equities analysts have recently issued reports on MNDY shares. Morgan Stanley decreased their price target on shares of monday.com from $260.00 to $236.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Canaccord Genuity Group decreased their target price on monday.com from $255.00 to $230.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of monday.com in a research report on Wednesday, October 8th. Citigroup cut their price objective on monday.com from $319.00 to $293.00 and set a “buy” rating on the stock in a report on Tuesday, December 23rd. Finally, Tigress Financial increased their target price on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $257.39.
Get Our Latest Stock Analysis on monday.com
monday.com Price Performance
The business’s 50-day moving average is $152.62 and its two-hundred day moving average is $196.61. The firm has a market cap of $6.62 billion, a P/E ratio of 105.96, a P/E/G ratio of 3.36 and a beta of 1.26.
monday.com (NASDAQ:MNDY – Get Free Report) last posted its quarterly earnings data on Monday, November 10th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.27. The company had revenue of $316.86 million during the quarter, compared to the consensus estimate of $312.26 million. monday.com had a net margin of 5.58% and a return on equity of 5.99%. The company’s quarterly revenue was up 26.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.85 EPS. Equities research analysts predict that monday.com Ltd. will post 0.46 EPS for the current year.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the stock. CoreCap Advisors LLC raised its stake in shares of monday.com by 29.8% during the 4th quarter. CoreCap Advisors LLC now owns 388 shares of the company’s stock worth $57,000 after purchasing an additional 89 shares in the last quarter. Abound Wealth Management acquired a new stake in monday.com in the fourth quarter valued at $30,000. SG Americas Securities LLC grew its position in shares of monday.com by 110.9% in the 4th quarter. SG Americas Securities LLC now owns 932,912 shares of the company’s stock valued at $137,660,000 after acquiring an additional 490,491 shares during the period. IFP Advisors Inc increased its stake in shares of monday.com by 26.1% during the 3rd quarter. IFP Advisors Inc now owns 1,044 shares of the company’s stock worth $202,000 after purchasing an additional 216 shares during the last quarter. Finally, Swiss Life Asset Management Ltd raised its holdings in shares of monday.com by 4.1% in the 3rd quarter. Swiss Life Asset Management Ltd now owns 3,523 shares of the company’s stock valued at $682,000 after purchasing an additional 138 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.
About monday.com
monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.
The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.