monday.com (NASDAQ:MNDY) Stock Price Down 2.2% – Time to Sell?

Shares of monday.com Ltd. (NASDAQ:MNDY) fell 2.2% during trading on Wednesday . The stock traded as low as $285.96 and last traded at $286.44. 33,311 shares changed hands during mid-day 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

A number of research analysts have recently issued reports on MNDY shares. JPMorgan Chase & Co. boosted their price target on shares of monday.com from $270.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. TD Cowen boosted their target price on monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Piper Sandler raised their price target on monday.com from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, November 11th. Canaccord Genuity Group upped their price objective on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, DA Davidson reissued a “neutral” rating and issued a $300.00 target price on shares of monday.com in a report on Tuesday, November 12th. 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 currently has an average rating of “Moderate Buy” and an average price target of $310.81.

monday.com Price Performance

The firm has a market capitalization of $13.85 billion, a PE ratio of 699.88, a P/E/G ratio of 8.25 and a beta of 1.31. The company has a 50-day moving average price of $284.00 and a 200-day moving average price of $253.54.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The company had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. During the same period in the prior year, the firm earned $0.15 EPS. The firm’s quarterly revenue was up 49.5% on a year-over-year basis. On average, research analysts predict that monday.com Ltd. will post 0.85 earnings per share for the current fiscal year.

Institutional Trading of monday.com

Hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC lifted its stake in shares of monday.com by 112.0% during the 3rd quarter. FMR LLC now owns 1,512,094 shares of the company’s stock worth $420,014,000 after purchasing an additional 798,791 shares during the period. Jennison Associates LLC lifted its position in monday.com by 77.5% during the third quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock worth $202,905,000 after buying an additional 318,837 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in monday.com by 431.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock worth $107,176,000 after buying an additional 313,279 shares during the last quarter. Renaissance Technologies LLC grew its holdings in monday.com by 20.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock valued at $270,299,000 after buying an additional 188,800 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in shares of monday.com by 171.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 273,877 shares of the company’s stock valued at $65,938,000 after acquiring an additional 172,919 shares during the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

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.