monday.com (NASDAQ:MNDY) Shares Gap Down – Here’s Why

monday.com Ltd. (NASDAQ:MNDY)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $262.18, but opened at $251.00. monday.com shares last traded at $260.97, with a volume of 27,610 shares traded.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. DA Davidson upgraded shares of monday.com from a “neutral” rating to a “buy” rating and set a $350.00 target price for the company in a research note on Monday, March 17th. Wells Fargo & Company upped their price objective on shares of monday.com from $340.00 to $380.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Jefferies Financial Group decreased their target price on monday.com from $400.00 to $360.00 and set a “buy” rating on the stock in a research report on Monday. Barclays boosted their price target on monday.com from $325.00 to $360.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Finally, Tigress Financial raised their price objective on monday.com from $340.00 to $450.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $352.64.

monday.com Trading Up 0.1 %

The stock has a market cap of $13.33 billion, a P/E ratio of 438.69, a price-to-earnings-growth ratio of 16.53 and a beta of 1.27. The business’s fifty day simple moving average is $273.31 and its 200 day simple moving average is $270.37.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a return on equity of 6.22% and a net margin of 3.33%. On average, analysts predict that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Stonebridge Financial Group LLC bought a new position in monday.com in the fourth quarter valued at approximately $25,000. Arcadia Investment Management Corp MI acquired a new stake in shares of monday.com during the fourth quarter worth $28,000. R Squared Ltd bought a new stake in monday.com in the 4th quarter valued at $33,000. Signaturefd LLC lifted its position in monday.com by 157.1% in the 4th quarter. Signaturefd LLC now owns 144 shares of the company’s stock valued at $34,000 after acquiring an additional 88 shares in the last quarter. Finally, Global Retirement Partners LLC boosted its stake in monday.com by 64.8% in the 4th quarter. Global Retirement Partners LLC now owns 150 shares of the company’s stock worth $35,000 after purchasing an additional 59 shares during the period. Institutional investors own 73.70% of the company’s stock.

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.