monday.com (NASDAQ:MNDY) Shares Down 2.9%

monday.com Ltd. (NASDAQ:MNDY - Get Free Report) shares traded down 2.9% during mid-day trading on Friday . The stock traded as low as $178.63 and last traded at $179.65. 207,380 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 801,506 shares. The stock had previously closed at $185.10.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. DA Davidson reaffirmed a "neutral" rating and issued a $190.00 price objective on shares of monday.com in a research note on Tuesday, February 13th. Piper Sandler reissued an "overweight" rating and issued a $250.00 target price on shares of monday.com in a research report on Tuesday, February 13th. JPMorgan Chase & Co. lifted their target price on shares of monday.com from $230.00 to $270.00 and gave the stock an "overweight" rating in a research report on Monday, March 25th. Bank of America began coverage on shares of monday.com in a research report on Monday, February 26th. They issued a "buy" rating and a $280.00 target price on the stock. Finally, Citigroup downgraded shares of monday.com from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $277.00 to $250.00 in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $238.33.

monday.com Price Performance

The firm has a market capitalization of $8.60 billion, a price-to-earnings ratio of -2,554.78 and a beta of 1.18. The firm's fifty day moving average is $216.66 and its 200 day moving average is $188.43.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its earnings results on Monday, February 12th. The company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.33. The firm had revenue of $202.60 million during the quarter, compared to analysts' expectations of $197.97 million. monday.com had a negative net margin of 0.26% and a negative return on equity of 0.43%. The company's revenue was up 35.5% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.03) earnings per share. Equities research analysts forecast that monday.com Ltd. will post -0.16 EPS for the current fiscal year.

Institutional Trading of monday.com

A number of institutional investors have recently added to or reduced their stakes in MNDY. Bank of New York Mellon Corp acquired a new stake in shares of monday.com in the first quarter worth $8,834,000. BlackRock Inc. lifted its stake in shares of monday.com by 151.9% in the first quarter. BlackRock Inc. now owns 33,300 shares of the company's stock worth $5,264,000 after buying an additional 20,079 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of monday.com in the first quarter worth $590,000. Vanguard Group Inc. lifted its stake in shares of monday.com by 240.1% in the first quarter. Vanguard Group Inc. now owns 8,922 shares of the company's stock worth $1,410,000 after buying an additional 6,299 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its stake in shares of monday.com by 6,322.6% in the first quarter. Renaissance Technologies LLC now owns 199,100 shares of the company's stock worth $31,472,000 after buying an additional 196,000 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

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.