monday.com (NASDAQ:MNDY) Stock Price Down 4.8% – Should You Sell?

monday.com Ltd. (NASDAQ:MNDY)’s share price traded down 4.8% during mid-day trading on Friday . The company traded as low as $90.26 and last traded at $89.7790. 151,679 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 1,988,787 shares. The stock had previously closed at $94.29.

Analysts Set New Price Targets

MNDY has been the topic of several research analyst reports. BTIG Research reissued a “buy” rating and set a $105.00 price target on shares of monday.com in a research note on Monday. Piper Sandler reaffirmed a “neutral” rating and issued a $90.00 price objective on shares of monday.com in a research note on Monday. Barclays lifted their price objective on monday.com from $95.00 to $100.00 and gave the stock an “overweight” rating in a report on Tuesday, May 12th. Cantor Fitzgerald lowered monday.com from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $112.00 to $90.00 in a report on Monday. Finally, TD Cowen restated a “buy” rating and issued a $110.00 price target on shares of monday.com in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $117.91.

monday.com Stock Down 4.2%

The firm’s fifty day simple moving average is $80.67 and its 200-day simple moving average is $78.52. The company has a market cap of $4.62 billion, a PE ratio of 38.43, a P/E/G ratio of 2.17 and a beta of 1.24.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.37. monday.com had a net margin of 8.87% and a return on equity of 8.10%. The business had revenue of $364.62 million during the quarter, compared to analysts’ expectations of $355.55 million. During the same period last year, the company posted $1.09 EPS. The company’s revenue was up 21.9% on a year-over-year basis. On average, analysts predict that monday.com Ltd. will post 2.09 earnings per share for the current year.

Hedge Funds Weigh In On monday.com

A number of institutional investors have recently made changes to their positions in MNDY. Capital World Investors boosted its stake in shares of monday.com by 91.4% during the fourth quarter. Capital World Investors now owns 3,286,461 shares of the company’s stock valued at $484,950,000 after acquiring an additional 1,569,198 shares during the last quarter. Renaissance Technologies LLC raised its stake in monday.com by 93.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock valued at $150,797,000 after purchasing an additional 1,052,900 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in monday.com by 15.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,274,910 shares of the company’s stock valued at $188,126,000 after purchasing an additional 165,996 shares during the last quarter. State Street Corp lifted its holdings in monday.com by 3.8% in the 4th quarter. State Street Corp now owns 688,751 shares of the company’s stock valued at $101,632,000 after purchasing an additional 25,009 shares in the last quarter. Finally, Alliancebernstein L.P. lifted its holdings in monday.com by 4.2% in the 2nd quarter. Alliancebernstein L.P. now owns 605,510 shares of the company’s stock valued at $190,421,000 after purchasing an additional 24,624 shares in the last quarter. 73.70% of the stock is owned by institutional investors and hedge funds.

monday.com Company Profile

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.