monday.com (NASDAQ:MNDY) Hits New 52-Week Low – Time to Sell?

monday.com Ltd. (NASDAQ:MNDY)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $123.45 and last traded at $124.8450, with a volume of 107379 shares. The stock had previously closed at $126.70.

Wall Street Analysts Forecast Growth

MNDY has been the subject of a number of recent research reports. Wells Fargo & Company dropped their price objective on monday.com from $260.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. BTIG Research reiterated a “buy” rating and set a $210.00 target price on shares of monday.com in a report on Thursday, January 15th. JPMorgan Chase & Co. cut their target price on monday.com from $285.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Citigroup dropped their price target on shares of monday.com from $319.00 to $293.00 and set a “buy” rating for the company in a research note on Tuesday, December 23rd. Finally, Canaccord Genuity Group dropped their target price on shares of monday.com from $255.00 to $230.00 and set a “buy” rating for the company in a research report on Tuesday, November 11th. Twenty-one analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $252.61.

monday.com Stock Up 0.4%

The firm has a market capitalization of $6.48 billion, a price-to-earnings ratio of 103.80, a P/E/G ratio of 2.92 and a beta of 1.26. The company has a 50-day moving average price of $146.30 and a 200-day moving average price of $189.56.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data 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. monday.com had a net margin of 5.58% and a return on equity of 5.99%. The business had revenue of $316.86 million during the quarter, compared to the consensus estimate of $312.26 million. During the same quarter in the prior year, the company posted $0.85 earnings per share. The company’s quarterly revenue was up 26.3% compared to the same quarter last year. As a group, analysts forecast that monday.com Ltd. will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

A number of institutional investors and hedge funds have recently modified their holdings of MNDY. Spire Wealth Management lifted its position in shares of monday.com by 7.5% during the second quarter. Spire Wealth Management now owns 615 shares of the company’s stock worth $193,000 after purchasing an additional 43 shares in the last quarter. CWM LLC increased its stake in shares of monday.com by 31.3% in the 2nd quarter. CWM LLC now owns 210 shares of the company’s stock valued at $66,000 after buying an additional 50 shares during the period. Dakota Wealth Management lifted its stake in shares of monday.com by 3.0% during the second quarter. Dakota Wealth Management now owns 1,793 shares of the company’s stock valued at $564,000 after acquiring an additional 52 shares during the period. Chicago Capital LLC boosted its holdings in monday.com by 3.6% in the second quarter. Chicago Capital LLC now owns 1,580 shares of the company’s stock valued at $497,000 after acquiring an additional 55 shares during the last quarter. Finally, RFG Advisory LLC increased its position in monday.com by 2.9% in the second quarter. RFG Advisory LLC now owns 1,958 shares of the company’s stock worth $616,000 after purchasing an additional 55 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.