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

Shares of monday.com Ltd. (NASDAQ:MNDY) fell 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 traded hands during trading, a decline of 74% from the average session volume of 801,506 shares. The stock had previously closed at $185.10.

Wall Street Analyst Weigh In

Several research firms have issued reports on MNDY. Oppenheimer lifted their price objective on monday.com from $220.00 to $240.00 and gave the stock an “outperform” rating in a report on Tuesday, February 13th. Needham & Company LLC reiterated a “buy” rating and issued a $230.00 price target on shares of monday.com in a report on Tuesday, February 13th. Wells Fargo & Company assumed coverage on monday.com in a report on Tuesday, April 9th. They issued an “overweight” rating and a $260.00 price target for the company. Bank of America assumed coverage on monday.com in a report on Monday, February 26th. They issued a “buy” rating and a $280.00 price target for the company. Finally, Jefferies Financial Group upgraded monday.com from a “hold” rating to a “buy” rating and boosted their price target for the company from $180.00 to $230.00 in a report on Friday, January 5th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $238.33.

monday.com Trading Down 3.8 %

The firm has a market cap of $8.60 billion, a price-to-earnings ratio of -2,543.49 and a beta of 1.18. The stock has a 50-day moving average of $215.50 and a 200-day moving average of $188.81.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, February 12th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.33. monday.com had a negative return on equity of 0.43% and a negative net margin of 0.26%. The company had revenue of $202.60 million during the quarter, compared to analyst estimates of $197.97 million. During the same quarter in the previous year, the firm posted ($0.03) EPS. The firm’s quarterly revenue was up 35.5% on a year-over-year basis. As a group, research analysts expect that monday.com Ltd. will post -0.16 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the business. Norden Group LLC acquired a new position in monday.com during the 1st quarter worth $840,000. Sumitomo Mitsui Trust Holdings Inc. boosted its position in monday.com by 18.0% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 56,500 shares of the company’s stock worth $12,762,000 after acquiring an additional 8,636 shares during the period. Allspring Global Investments Holdings LLC boosted its position in monday.com by 4,419.1% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 60,104 shares of the company’s stock worth $13,576,000 after acquiring an additional 58,774 shares during the period. Toth Financial Advisory Corp acquired a new position in monday.com during the 1st quarter worth $782,000. Finally, Artemis Investment Management LLP acquired a new stake in shares of monday.com in the first quarter valued at $8,201,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

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.