monday.com (NASDAQ:MNDY) Shares Gap Down - Here's Why

monday.com Ltd. (NASDAQ:MNDY - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $262.18, but opened at $251.00. monday.com shares last traded at $260.97, with a volume of 27,610 shares changing hands.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MNDY shares. Wells Fargo & Company raised their price objective on shares of monday.com from $340.00 to $380.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. JPMorgan Chase & Co. boosted their price target on shares of monday.com from $350.00 to $400.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. Citigroup raised shares of monday.com from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $302.00 to $298.00 in a report on Thursday, January 16th. Jefferies Financial Group dropped their price objective on monday.com from $400.00 to $360.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, The Goldman Sachs Group boosted their target price on monday.com from $350.00 to $400.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $352.64.

monday.com Stock Performance

The firm has a 50-day moving average of $272.65 and a 200-day moving average of $269.91. The firm has a market capitalization of $11.12 billion, a P/E ratio of 366.46, a price-to-earnings-growth ratio of 16.53 and a beta of 1.34.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its earnings results on Monday, February 10th. The company reported $0.50 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a return on equity of 6.22% and a net margin of 3.33%. Equities analysts anticipate that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

Institutional Trading of monday.com

Institutional investors have recently modified their holdings of the company. Oppenheimer & Co. Inc. boosted its stake in shares of monday.com by 24.2% during the 4th quarter. Oppenheimer & Co. Inc. now owns 6,765 shares of the company's stock valued at $1,593,000 after purchasing an additional 1,318 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in monday.com in the fourth quarter worth about $245,000. Bailard Inc. boosted its position in monday.com by 147.5% during the 4th quarter. Bailard Inc. now owns 7,055 shares of the company's stock valued at $1,661,000 after acquiring an additional 4,204 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of monday.com by 3.4% in the 4th quarter. Bank of New York Mellon Corp now owns 255,455 shares of the company's stock worth $60,144,000 after acquiring an additional 8,329 shares in the last quarter. Finally, Park Avenue Securities LLC purchased a new position in shares of monday.com in the 4th quarter valued at approximately $241,000. 73.70% of the stock is currently 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.