monday.com (NASDAQ:MNDY) Trading Down 3.5% - Time to Sell?

Key Points

• monday.com shares fell 3.5% to $90.73 in mid-day trading, with volume down 90% from the average. The stock remains above its 50-day and 200-day moving averages.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $117.91, although several firms recently downgraded or maintained neutral ratings.
• The company exceeded quarterly expectations, reporting $1.48 EPS versus $1.11 expected and $364.62 million in revenue, up 21.9% year over year. Institutional investors own 73.7% of the stock, with several major funds increasing their positions.

monday.com Ltd. (NASDAQ:MNDY - Get Free Report) was down 3.5% during mid-day trading on Thursday . The company traded as low as $89.47 and last traded at $90.73. Approximately 187,759 shares traded hands during trading, a decline of 90% from the average daily volume of 1,883,866 shares. The stock had previously closed at $94.06.

Analyst Ratings Changes

Several brokerages have weighed in on MNDY. Jefferies Financial Group reaffirmed a "hold" rating and set a $95.00 target price on shares of monday.com in a research note on Monday, August 10th. TD Cowen restated a "buy" rating and issued a $110.00 price objective on shares of monday.com in a report on Tuesday, August 11th. Capital One Financial cut shares of monday.com from an "overweight" rating to an "equal weight" rating and set a $95.00 price objective for the company. in a research report on Monday, August 10th. Piper Sandler reiterated a "neutral" rating and issued a $90.00 target price on shares of monday.com in a report on Monday, August 10th. Finally, Wolfe Research cut monday.com from an "outperform" rating to a "peer perform" rating in a research note on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $117.91.

monday.com Stock Performance

The stock has a market capitalization of $4.60 billion, a price-to-earnings ratio of 38.35, a PEG ratio of 2.20 and a beta of 1.15. The company has a 50 day moving average of $87.93 and a 200 day moving average of $78.80.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.11 by $0.37. The business had revenue of $364.62 million during the quarter, compared to analysts' expectations of $355.55 million. monday.com had a return on equity of 9.09% and a net margin of 8.87%.The business's quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.09 EPS. As a group, research analysts expect that monday.com Ltd. will post 2.25 EPS for the current fiscal year.

Institutional Inflows and Outflows

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

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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