monday.com (NASDAQ:MNDY) Hits New 12-Month Low - Time to Sell?

Key Points

• monday.com shares have reached a new 12-month low at $188.64 after previously closing at $248.04, reflecting a significant decline in stock value.
• Despite the recent drop, several analysts have maintained positive ratings with an average price target of $348.09 and consensus ratings indicating a "Moderate Buy."
• monday.com reported strong quarterly earnings with $1.10 EPS, exceeding the consensus estimate, along with a 30.2% increase in revenue year-over-year.

monday.com Ltd. (NASDAQ:MNDY - Get Free Report)'s share price hit a new 52-week low during trading on Monday . The company traded as low as $201.50 and last traded at $188.64, with a volume of 384939 shares. The stock had previously closed at $248.04.

Analyst Ratings Changes

Several equities analysts recently weighed in on MNDY shares. Piper Sandler reiterated an "overweight" rating and issued a $325.00 price target on shares of monday.com in a report on Friday, June 27th. Baird R W upgraded monday.com from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. Morgan Stanley initiated coverage on monday.com in a research report on Tuesday, June 17th. They set an "equal weight" rating and a $330.00 target price on the stock. Robert W. Baird set a $310.00 price target on monday.com and gave the stock an "outperform" rating in a research note on Wednesday, August 6th. Finally, DA Davidson reduced their target price on monday.com from $350.00 to $290.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, monday.com presently has a consensus rating of "Moderate Buy" and an average price target of $348.09.

monday.com Trading Down 26.3%

The firm has a market cap of $9.28 billion, a P/E ratio of 186.36, a PEG ratio of 89.75 and a beta of 1.27. The company's 50-day moving average is $289.71 and its two-hundred day moving average is $277.38.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.70 by $0.40. monday.com had a net margin of 5.08% and a return on equity of 7.87%. The firm had revenue of $282.25 million during the quarter, compared to the consensus estimate of $275.93 million. During the same period in the prior year, the firm posted $0.61 earnings per share. The company's quarterly revenue was up 30.2% compared to the same quarter last year. Research analysts anticipate that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

Institutional Trading of monday.com

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. ASR Vermogensbeheer N.V. acquired a new position in monday.com during the first quarter worth approximately $25,000. Summit Securities Group LLC bought a new stake in monday.com during the first quarter worth approximately $25,000. NewEdge Advisors LLC raised its stake in shares of monday.com by 2,120.0% in the first quarter. NewEdge Advisors LLC now owns 111 shares of the company's stock valued at $27,000 after purchasing an additional 106 shares in the last quarter. Grove Bank & Trust bought a new stake in shares of monday.com during the first quarter worth $30,000. Finally, Hazlett Burt & Watson Inc. boosted its holdings in monday.com by 60.0% during the second quarter. Hazlett Burt & Watson Inc. now owns 160 shares of the company's stock worth $50,000 after buying an additional 60 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.