monday.com (NASDAQ:MNDY) Stock Price Down 3.5% – What’s Next?

monday.com Ltd. (NASDAQ:MNDY)’s share price was down 3.5% during mid-day trading on Thursday . The stock traded as low as $89.47 and last traded at $90.73. Approximately 187,759 shares changed hands during trading, a decline of 90% from the average session volume of 1,883,866 shares. The stock had previously closed at $94.06.

Analyst Ratings Changes

Several equities analysts have issued reports on MNDY shares. Jefferies Financial Group reissued a “hold” rating and issued a $95.00 price objective on shares of monday.com in a research note on Monday, August 10th. Capital One Financial downgraded monday.com from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a research note on Monday, August 10th. TD Cowen reaffirmed a “buy” rating and set a $110.00 price objective on shares of monday.com in a report on Tuesday, August 11th. Zacks Research raised monday.com from a “hold” rating to a “strong-buy” rating in a report on Wednesday, August 12th. Finally, Wall Street Zen cut shares of monday.com from a “buy” rating to a “hold” rating in a research note on Saturday, September 5th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $117.91.

monday.com Price Performance

The business’s 50-day simple moving average is $87.93 and its 200-day simple moving average is $78.80. The company has a market cap of $4.60 billion, a price-to-earnings ratio of 38.35, a PEG ratio of 2.20 and a beta of 1.15.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.37. monday.com had a return on equity of 9.09% and a net margin of 8.87%.The firm had revenue of $364.62 million during the quarter, compared to the consensus estimate of $355.55 million. During the same period in the previous year, the firm posted $1.09 EPS. The company’s quarterly revenue was up 21.9% compared to the same quarter last year. As a group, sell-side analysts forecast that monday.com Ltd. will post 2.25 EPS for the current year.

Institutional Trading of monday.com

Large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its position in monday.com by 498.6% during the 1st quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock worth $29,000 after purchasing an additional 354 shares in the last quarter. Huntington National Bank boosted its stake in shares of monday.com by 6,040.0% during the 4th quarter. Huntington National Bank now owns 307 shares of the company’s stock worth $45,000 after purchasing an additional 302 shares during the last quarter. Capco Asset Management LLC boosted its stake in shares of monday.com by 79.8% during the 4th quarter. Capco Asset Management LLC now owns 577 shares of the company’s stock worth $85,000 after purchasing an additional 256 shares during the last quarter. IFP Advisors Inc grew its holdings in shares of monday.com by 18.8% during the fourth quarter. IFP Advisors Inc now owns 1,240 shares of the company’s stock worth $183,000 after buying an additional 196 shares in the last quarter. Finally, Evanson Financial LLC purchased a new stake in shares of monday.com during the second quarter worth about $219,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Company Profile

monday.com Ltd. is a software company that provides cloud-based work management and productivity solutions for organizations of various sizes. Its platform is designed to help teams plan projects, manage workflows, coordinate tasks, track progress and collaborate across departments.

The company’s product portfolio includes monday work management, monday CRM, monday dev and monday service. These products support functions such as project and portfolio management, customer relationship management, software development, IT service management and business process automation.