monday.com (NASDAQ:MNDY) Stock Price Down 5.4% – Here’s Why

monday.com Ltd. (NASDAQ:MNDY)’s share price was down 5.4% during mid-day trading on Tuesday . The company traded as low as $72.57 and last traded at $72.6210. 1,292,134 shares traded hands during mid-day trading, a decline of 35% from the average daily volume of 1,996,356 shares. The stock had previously closed at $76.75.

Analyst Ratings Changes

MNDY has been the topic of a number of research analyst reports. Guggenheim set a $130.00 price objective on shares of monday.com and gave the stock a “buy” rating in a report on Thursday, April 9th. Barclays boosted their target price on shares of monday.com from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. Canaccord Genuity Group decreased their price target on shares of monday.com from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. UBS Group decreased their price target on shares of monday.com from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Finally, Citigroup lowered their price target on shares of monday.com from $176.00 to $154.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell 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 $126.04.

monday.com Stock Down 5.5%

The firm has a fifty day moving average of $78.34 and a 200-day moving average of $85.17. The firm has a market cap of $3.71 billion, a P/E ratio of 31.60, a PEG ratio of 3.94 and a beta of 1.26.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Friday, March 13th. The company reported $1.15 earnings per share for the quarter. monday.com had a return on equity of 5.10% and a net margin of 9.17%.The firm had revenue of $351.26 million during the quarter. Sell-side analysts anticipate that monday.com Ltd. will post 1.59 EPS for the current year.

Institutional Investors Weigh In On monday.com

Institutional investors and hedge funds have recently modified their holdings of the business. NewEdge Advisors LLC grew its holdings in monday.com by 2,120.0% during the 1st quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after acquiring an additional 106 shares during the period. American Century Companies Inc. lifted its stake in shares of monday.com by 75.3% in the 2nd quarter. American Century Companies Inc. now owns 4,192 shares of the company’s stock valued at $1,318,000 after purchasing an additional 1,801 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of monday.com by 76.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock worth $47,000 after purchasing an additional 65 shares during the last quarter. Cerity Partners LLC grew its stake in shares of monday.com by 28.8% during the second quarter. Cerity Partners LLC now owns 2,596 shares of the company’s stock worth $816,000 after purchasing an additional 580 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in monday.com in the second quarter valued at about $398,000. 73.70% of the stock is owned by institutional investors.

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.