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

monday.com Ltd. (NASDAQ:MNDY)’s stock price reached a new 52-week low on Monday . The company traded as low as $152.00 and last traded at $154.4190, with a volume of 748500 shares. The stock had previously closed at $189.59.

Analyst Ratings Changes

MNDY has been the topic of several research analyst reports. Jefferies Financial Group cut their price objective on monday.com from $360.00 to $330.00 and set a “buy” rating on the stock in a report on Monday, August 11th. Oppenheimer began coverage on shares of monday.com in a report on Wednesday, August 27th. They issued an “outperform” rating and a $300.00 price objective on the stock. TD Cowen cut their target price on monday.com from $360.00 to $290.00 and set a “buy” rating on the stock in a research report on Tuesday, August 12th. Needham & Company LLC reissued a “buy” rating and issued a $250.00 price target on shares of monday.com in a research report on Thursday, September 18th. Finally, Bank of America restated a “neutral” rating and set a $205.00 price target (down previously from $240.00) on shares of monday.com in a research note on Thursday, August 21st. One analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, monday.com presently has a consensus rating of “Moderate Buy” and an average price target of $290.81.

monday.com Stock Performance

The company has a fifty day simple moving average of $193.08 and a two-hundred day simple moving average of $243.02. The company has a market capitalization of $8.31 billion, a price-to-earnings ratio of 221.28, a P/E/G ratio of 8.96 and a beta of 1.24.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, August 11th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.84 by $0.25. The business had revenue of $299.01 million during the quarter, compared to the consensus estimate of $293.60 million. monday.com had a return on equity of 6.32% and a net margin of 3.63%.The business’s revenue for the quarter was up 26.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.94 EPS. As a group, analysts expect that monday.com Ltd. will post 0.46 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. ASR Vermogensbeheer N.V. purchased a new position in shares of monday.com during the 1st quarter valued at approximately $25,000. Summit Securities Group LLC acquired a new stake in shares of monday.com in the 1st quarter worth about $25,000. NewEdge Advisors LLC raised its holdings in shares of monday.com by 2,120.0% during the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after buying an additional 106 shares during the last quarter. Promus Capital LLC acquired a new stake in monday.com in the second quarter worth about $45,000. Finally, Smartleaf Asset Management LLC lifted its position in monday.com by 575.8% in the third quarter. Smartleaf Asset Management LLC now owns 223 shares of the company’s stock worth $45,000 after purchasing an additional 190 shares during the period. 73.70% of the stock is owned by institutional investors and hedge funds.

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.