monday.com (NASDAQ:MNDY) Stock Falls 6.4% - Time to Sell?

Key Points

• monday.com shares fell 6.4% to about $78.29 in mid-day trading, with volume down 87% from the average daily level.
• Analyst sentiment remains broadly positive despite recent target cuts: the stock has a consensus “Moderate Buy” rating and an average price target of $117.91.
• The company beat quarterly expectations, reporting $1.48 in EPS versus $1.11 expected and $364.62 million in revenue, up 21.9% year over year. Institutional investors own approximately 73.7% of the shares.

monday.com Ltd. (NASDAQ:MNDY - Get Free Report)'s stock price dropped 6.4% during mid-day trading on Monday. The stock traded as low as $76.71 and last traded at $78.2910. Approximately 245,230 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 1,847,236 shares. The stock had previously closed at $83.66.

Analyst Ratings Changes

A number of analysts recently commented on the company. BTIG Research reiterated a "buy" rating and set a $105.00 price objective on shares of monday.com in a research report on Monday, August 10th. Cantor Fitzgerald cut shares of monday.com from an "overweight" rating to a "neutral" rating and decreased their price target for the stock from $112.00 to $90.00 in a research note on Monday, August 10th. Citigroup lowered their price target on shares of monday.com from $154.00 to $132.00 and set a "buy" rating for the company in a report on Tuesday, August 11th. Jefferies Financial Group reissued a "hold" rating and issued a $95.00 price objective on shares of monday.com in a research report on Monday, August 10th. Finally, Wells Fargo & Company reduced their price objective on shares of monday.com from $130.00 to $120.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $117.91.

monday.com Stock Performance

The company's fifty day moving average price is $88.55 and its two-hundred day moving average price is $79.31. The firm has a market capitalization of $4.02 billion, a PE ratio of 33.52, a price-to-earnings-growth ratio of 1.96 and a beta of 1.15.

monday.com (NASDAQ:MNDY - Get Free Report) last released its earnings results on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.11 by $0.37. The firm had revenue of $364.62 million during the quarter, compared to the consensus estimate of $355.55 million. monday.com had a net margin of 8.87% and a return on equity of 9.09%. monday.com's revenue was up 21.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.09 earnings per share. On average, equities analysts expect that monday.com Ltd. will post 2.25 earnings per share for the current year.

Institutional Trading of monday.com

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Capital World Investors grew its position in monday.com by 91.4% during the fourth quarter. Capital World Investors now owns 3,286,461 shares of the company's stock valued at $484,950,000 after acquiring an additional 1,569,198 shares during the period. Renaissance Technologies LLC raised its holdings in shares of monday.com by 93.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company's stock worth $150,797,000 after purchasing an additional 1,052,900 shares during the period. Norges Bank acquired a new position in shares of monday.com in the 4th quarter valued at about $79,789,000. Geode Capital Management LLC lifted its stake in shares of monday.com by 10.8% in the 4th quarter. Geode Capital Management LLC now owns 438,076 shares of the company's stock valued at $64,295,000 after purchasing an additional 42,655 shares in the last quarter. Finally, Ibex Investors LLC grew its holdings in shares of monday.com by 56.7% during the 4th quarter. Ibex Investors LLC now owns 282,000 shares of the company's stock worth $41,612,000 after purchasing an additional 102,000 shares during the period. 73.70% of the stock is currently owned by institutional investors and hedge funds.

monday.com Company Profile

monday.com Ltd. is a software company that provides cloud-based work management and productivity solutions for organizations of various sizes. Its platform is designed to help teams plan projects, manage workflows, coordinate tasks, track progress and collaborate across departments.

The company's product portfolio includes monday work management, monday CRM, monday dev and monday service. These products support functions such as project and portfolio management, customer relationship management, software development, IT service management and business process automation.

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