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

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

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Canaccord Genuity Group increased their price objective on shares of monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Loop Capital upped their price target on shares of monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Robert W. Baird lifted their price objective 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. Needham & Company LLC increased their target price on shares of monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Finally, Oppenheimer upped their price target on monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $310.81.

monday.com Stock Performance

The firm has a market cap of $13.72 billion, a price-to-earnings ratio of 690.29, a price-to-earnings-growth ratio of 8.25 and a beta of 1.31. The firm’s 50 day moving average is $282.80 and its 200-day moving average is $252.52.

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 the consensus estimate of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The company had revenue of $251.00 million during the quarter, compared to the consensus estimate of $246.17 million. During the same quarter in the prior year, the company posted $0.15 EPS. The firm’s revenue was up 49.5% on a year-over-year basis. As a group, research analysts predict that monday.com Ltd. will post 0.85 EPS for the current year.

Institutional Investors Weigh In On monday.com

A number of hedge funds have recently bought and sold shares of MNDY. Quent Capital LLC acquired a new stake in monday.com in the 1st quarter valued at approximately $565,000. Vanguard Group Inc. increased its position in monday.com by 12.9% during the first quarter. Vanguard Group Inc. now owns 45,682 shares of the company’s stock worth $10,318,000 after acquiring an additional 5,229 shares during the period. American International Group Inc. raised its stake in monday.com by 2.3% during the 1st quarter. American International Group Inc. now owns 4,550 shares of the company’s stock valued at $1,028,000 after purchasing an additional 102 shares during the last quarter. Janus Henderson Group PLC bought a new stake in monday.com in the 1st quarter valued at $203,000. Finally, California State Teachers Retirement System increased its holdings in shares of monday.com by 13.8% during the 1st quarter. California State Teachers Retirement System now owns 25,320 shares of the company’s stock worth $5,719,000 after purchasing an additional 3,068 shares during the period. 73.70% of the stock is currently owned by institutional investors.

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.