monday.com (NASDAQ:MNDY) Reaches New 1-Year Low – Here’s Why

monday.com Ltd. (NASDAQ:MNDY) shares reached a new 52-week low on Tuesday . The stock traded as low as $139.50 and last traded at $140.1950, with a volume of 506687 shares traded. The stock had previously closed at $146.35.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. BTIG Research began coverage on monday.com in a research note on Tuesday, December 16th. They issued a “buy” rating and a $210.00 price target for the company. Bank of America dropped their target price on shares of monday.com from $205.00 to $195.00 and set a “neutral” rating on the stock in a research report on Tuesday, November 11th. Tigress Financial raised their price objective on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Guggenheim assumed coverage on shares of monday.com in a research note on Thursday, December 4th. They issued a “buy” rating and a $250.00 price target on the stock. Finally, Jefferies Financial Group cut their price objective on shares of monday.com from $300.00 to $260.00 and set a “buy” rating on the stock in a research report on Monday, January 5th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $257.39.

monday.com Price Performance

The company’s 50 day simple moving average is $153.69 and its two-hundred day simple moving average is $197.80. The stock has a market capitalization of $6.98 billion, a P/E ratio of 111.73, a PEG ratio of 3.40 and a beta of 1.26.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, November 10th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.27. monday.com had a net margin of 5.58% and a return on equity of 5.99%. The firm had revenue of $316.86 million for the quarter, compared to analyst estimates of $312.26 million. During the same quarter in the prior year, the firm earned $0.85 EPS. The company’s revenue was up 26.3% on a year-over-year basis. On average, research analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. WCM Investment Management LLC boosted its holdings in shares of monday.com by 2.8% in the 3rd quarter. WCM Investment Management LLC now owns 4,184,745 shares of the company’s stock valued at $843,519,000 after buying an additional 115,353 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of monday.com by 9.0% in the second quarter. JPMorgan Chase & Co. now owns 1,833,000 shares of the company’s stock valued at $576,442,000 after acquiring an additional 150,987 shares during the period. Capital World Investors grew its position in shares of monday.com by 231.2% during the 3rd quarter. Capital World Investors now owns 1,717,263 shares of the company’s stock worth $332,617,000 after purchasing an additional 1,198,761 shares in the last quarter. Rubicon Global Capital Ltd increased its stake in monday.com by 155.3% during the 2nd quarter. Rubicon Global Capital Ltd now owns 1,442,900 shares of the company’s stock worth $453,763,000 after acquiring an additional 877,700 shares during the period. Finally, SG Americas Securities LLC lifted its position in monday.com by 110.9% during the fourth quarter. SG Americas Securities LLC now owns 932,912 shares of the company’s stock worth $137,660,000 after purchasing an additional 490,491 shares during the period. 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.