monday.com (NASDAQ:MNDY) Trading Down 2.2% – Here’s What Happened

monday.com Ltd. (NASDAQ:MNDY) traded down 2.2% on Wednesday . The stock traded as low as $285.96 and last traded at $286.44. 33,311 shares were traded during mid-day trading, a decline of 95% from the average session volume of 727,778 shares. The stock had previously closed at $293.00.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Needham & Company LLC boosted their price target on shares of monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. increased their target price on shares of monday.com from $270.00 to $300.00 and gave the stock an “overweight” rating in a report on Tuesday, August 13th. Robert W. Baird boosted their price target on shares of monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Loop Capital increased their price objective on monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Citigroup upped their price target on monday.com from $296.00 to $327.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $310.81.

monday.com Stock Down 2.1 %

The firm has a fifty day simple moving average of $284.00 and a 200-day simple moving average of $253.54. The company has a market cap of $13.85 billion, a PE ratio of 699.88, a price-to-earnings-growth ratio of 8.25 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The firm had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. During the same quarter last year, the business posted $0.15 EPS. The firm’s quarterly revenue was up 49.5% compared to the same quarter last year. Equities research analysts forecast that monday.com Ltd. will post 0.85 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

Institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. purchased a new position in monday.com during the 3rd quarter worth $43,000. Ridgewood Investments LLC purchased a new position in shares of monday.com during the second quarter worth about $45,000. Gilliland Jeter Wealth Management LLC increased its position in monday.com by 72.9% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after acquiring an additional 102 shares during the period. Opal Wealth Advisors LLC purchased a new stake in monday.com during the 2nd quarter valued at approximately $69,000. Finally, Toronto Dominion Bank acquired a new stake in monday.com during the 2nd quarter worth approximately $120,000. 73.70% of the stock is owned by institutional investors and hedge funds.

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.