monday.com (NASDAQ:MNDY) Shares Cross Below Fifty Day Moving Average - Time to Sell?

Key Points

• monday.com shares fell below their 50-day moving average, trading as low as $86.77 and last at $87.93, below the $90.72 average; the article reports the stock was down 6.3%.
• Analyst views are mixed but tilt to Hold: 12 analysts rate the stock Buy and 13 Hold, with an average price target of $107.35.
• The company’s latest reported quarter beat expectations, posting EPS of $1.48 versus $1.11 forecast and revenue of $364.62 million, up 21.9% year over year.

monday.com Ltd. (NASDAQ:MNDY - Get Free Report) shares passed below its 50-day moving average during trading on Friday. The stock has a 50-day moving average of $90.72 and traded as low as $86.77. monday.com shares last traded at $87.93, with a volume of 1,752,077 shares traded.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on MNDY shares. Jefferies Financial Group reiterated a "hold" rating and set a $95.00 target price on shares of monday.com in a report on Monday, August 10th. Weiss Ratings raised shares of monday.com from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Thursday, October 15th. Wells Fargo & Company reduced their target price on monday.com from $130.00 to $120.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 11th. BTIG Research restated a "buy" rating and set a $105.00 target price on shares of monday.com in a research report on Thursday, October 29th. Finally, Cantor Fitzgerald downgraded monday.com from an "overweight" rating to a "neutral" rating and reduced their price objective for the company from $112.00 to $90.00 in a research note on Monday, August 10th. Twelve research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $107.35.

monday.com Trading Down 6.3%

The stock has a 50 day simple moving average of $90.72 and a 200 day simple moving average of $83.05. The firm has a market capitalization of $4.50 billion, a PE ratio of 37.42, a PEG ratio of 2.15 and a beta of 1.06.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its earnings results on Monday, August 10th. The company reported $1.48 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.37. The business had revenue of $364.62 million for the quarter, compared to analysts' expectations of $355.55 million. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The company's quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.09 EPS. As a group, equities analysts anticipate that monday.com Ltd. will post 2.34 earnings per share for the current year.

Insider Activity

In related news, Director Aviad Eyal sold 2,000 shares of the stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $100.04, for a total value of $200,080.00. Following the sale, the director directly owned 203,455 shares of the company's stock, valued at approximately $20,353,638.20. This represents a 0.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 22.30% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC boosted its holdings in shares of monday.com by 93.3% in the first quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company's stock valued at $150,797,000 after purchasing an additional 1,052,900 shares during the period. RPD Fund Management LLC acquired a new stake in shares of monday.com in the 1st quarter valued at approximately $17,529,000. Russell Investments Group Ltd. boosted its holdings in shares of monday.com by 4,477.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 178,530 shares of the company's stock valued at $13,946,000 after acquiring an additional 174,630 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of monday.com in the second quarter valued at $5,098,000. Finally, Bank of America Corp DE boosted its stake in monday.com by 33.6% during the 1st quarter. Bank of America Corp DE now owns 194,635 shares of the company's stock valued at $13,451,000 after purchasing an additional 49,002 shares during the last quarter. Institutional investors own 73.70% of the company's stock.

About monday.com

monday.com Ltd. is a software company that provides a cloud-based Work Operating System (Work OS) designed to help organizations manage projects, workflows and business operations. Its platform uses configurable boards, dashboards, automations, integrations and collaboration tools, enabling teams to organize work and build workflows without extensive software development.

The company offers products tailored to several business functions, including monday work management for project and task coordination, monday CRM for sales and customer relationship processes, monday dev for software development teams, and monday service for managing customer support and service operations.

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