monday.com (NASDAQ:MNDY) Hits New 52-Week Low on Analyst Downgrade
by Danessa Lincoln · The Markets Dailymonday.com Ltd. (NASDAQ:MNDY – Get Free Report)’s share price reached a new 52-week low during mid-day trading on Wednesday after DA Davidson lowered their price target on the stock from $250.00 to $150.00. DA Davidson currently has a buy rating on the stock. monday.com traded as low as $100.08 and last traded at $101.71, with a volume of 3581650 shares. The stock had previously closed at $112.82.
MNDY has been the topic of a number of other research reports. Morgan Stanley cut their price target on monday.com from $236.00 to $200.00 and set an “overweight” rating on the stock in a report on Tuesday, January 27th. Jefferies Financial Group cut their target price on monday.com from $300.00 to $260.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. BTIG Research reiterated a “buy” rating and set a $210.00 price target on shares of monday.com in a research report on Thursday, January 15th. Citigroup lowered their price target on monday.com from $293.00 to $230.00 and set a “buy” rating on the stock in a report on Monday. Finally, KeyCorp reduced their price objective on shares of monday.com from $270.00 to $220.00 and set an “overweight” rating for the company in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, monday.com currently has an average rating of “Moderate Buy” and a consensus price target of $229.87.
Check Out Our Latest Stock Analysis on MNDY
Institutional Trading of monday.com
A number of large investors have recently added to or reduced their stakes in MNDY. NewEdge Advisors LLC boosted its stake in shares of monday.com by 2,120.0% during the 1st quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after acquiring an additional 106 shares in the last quarter. Janney Montgomery Scott LLC acquired a new stake in shares of monday.com during the second quarter worth $260,000. Truist Financial Corp lifted its holdings in shares of monday.com by 36.8% during the second quarter. Truist Financial Corp now owns 4,759 shares of the company’s stock valued at $1,497,000 after purchasing an additional 1,280 shares during the last quarter. KLP Kapitalforvaltning AS boosted its position in shares of monday.com by 22.0% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 13,850 shares of the company’s stock valued at $4,356,000 after purchasing an additional 2,500 shares during the period. Finally, Tectonic Advisors LLC acquired a new position in shares of monday.com in the 2nd quarter valued at $215,000. 73.70% of the stock is currently owned by institutional investors.
monday.com Trading Up 3.6%
The company has a fifty day simple moving average of $139.65 and a 200-day simple moving average of $177.08. The stock has a market cap of $4.98 billion, a price-to-earnings ratio of 72.76, a P/E/G ratio of 2.14 and a beta of 1.25.
monday.com (NASDAQ:MNDY – Get Free Report) last released its earnings results on Monday, November 10th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.27. The business had revenue of $316.86 million for 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 firm’s quarterly revenue was up 26.3% compared to the same quarter last year. During the same period last year, the firm posted $0.85 earnings per share. As a group, analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current year.
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.