monday.com (NASDAQ:MNDY) Stock Price Down 6.3% – What’s Next?

Shares of monday.com Ltd. (NASDAQ:MNDY) dropped 6.3% during mid-day trading on Tuesday . The stock traded as low as $254.77 and last traded at $256.14. Approximately 1,024,470 shares changed hands during trading, an increase of 41% from the average daily volume of 727,135 shares. The stock had previously closed at $273.33.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MNDY shares. Robert W. Baird increased their price target on monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. DA Davidson reissued a “neutral” rating and set a $300.00 target price on shares of monday.com in a report on Tuesday, November 12th. Loop Capital boosted their price target on monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Canaccord Genuity Group raised their price objective on monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Finally, Needham & Company LLC raised their price target on shares of monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, monday.com has a consensus rating of “Moderate Buy” and a consensus price target of $309.62.

monday.com Stock Performance

The company’s 50-day simple moving average is $283.18 and its 200 day simple moving average is $258.47. The company has a market cap of $10.85 billion, a PE ratio of 548.02, a PEG ratio of 7.75 and a beta of 1.25.

monday.com (NASDAQ:MNDY) last posted its quarterly 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 return on equity of 4.99% and a net margin of 2.39%. The company had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. During the same quarter last year, the company earned $0.15 EPS. monday.com’s revenue for the quarter was up 49.5% compared to the same quarter last year. Analysts forecast that monday.com Ltd. will post 0.85 EPS for the current year.

Institutional Investors Weigh In On monday.com

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mercer Global Advisors Inc. ADV lifted its stake in shares of monday.com by 4.4% in the second quarter. Mercer Global Advisors Inc. ADV now owns 1,124 shares of the company’s stock valued at $271,000 after purchasing an additional 47 shares during the period. Crossmark Global Holdings Inc. raised its holdings in shares of monday.com by 4.0% in the second quarter. Crossmark Global Holdings Inc. now owns 1,303 shares of the company’s stock worth $314,000 after acquiring an additional 50 shares during the last quarter. Avior Wealth Management LLC lifted its position in shares of monday.com by 2.6% in the third quarter. Avior Wealth Management LLC now owns 2,611 shares of the company’s stock valued at $725,000 after acquiring an additional 67 shares in the last quarter. FDx Advisors Inc. increased its position in monday.com by 4.7% during the 2nd quarter. FDx Advisors Inc. now owns 2,000 shares of the company’s stock worth $482,000 after purchasing an additional 90 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. lifted its holdings in monday.com by 4.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,065 shares of the company’s stock valued at $497,000 after purchasing an additional 91 shares in the last quarter. 73.70% of the stock is owned by hedge funds and other 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.