monday.com (NASDAQ:MNDY) Shares Gap Down – Should You Sell?

monday.com Ltd. (NASDAQ:MNDY)’s share price gapped down prior to trading on Monday . The stock had previously closed at $75.58, but opened at $71.81. monday.com shares last traded at $72.0730, with a volume of 531,788 shares changing hands.

Analysts Set New Price Targets

MNDY has been the subject of a number of recent analyst reports. Wells Fargo & Company lowered their target price on shares of monday.com from $200.00 to $130.00 and set an “overweight” rating for the company in a research note on Tuesday, February 10th. Robert W. Baird reissued a “neutral” rating and issued a $90.00 price objective (down from $175.00) on shares of monday.com in a research report on Tuesday, February 10th. JPMorgan Chase & Co. dropped their target price on shares of monday.com from $285.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Weiss Ratings reiterated a “sell (d)” rating on shares of monday.com in a report on Thursday, January 22nd. Finally, Barclays set a $115.00 price objective on monday.com in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, monday.com has an average rating of “Moderate Buy” and a consensus price target of $155.38.

monday.com Trading Down 8.1%

The business’s 50-day moving average price is $122.34 and its 200-day moving average price is $160.46. The stock has a market cap of $3.53 billion, a PE ratio of 31.07, a P/E/G ratio of 1.40 and a beta of 1.25.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, February 9th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. monday.com had a return on equity of 4.80% and a net margin of 9.64%.The firm had revenue of $333.88 million during the quarter, compared to analysts’ expectations of $329.71 million. During the same quarter last year, the firm earned $1.08 EPS. The business’s quarterly revenue was up 24.6% on a year-over-year basis. As a group, analysts predict that monday.com Ltd. will post 0.46 earnings per share for the current year.

Hedge Funds Weigh In On monday.com

Several institutional investors have recently made changes to their positions in MNDY. NewEdge Advisors LLC raised its stake in shares of monday.com by 2,120.0% in the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after acquiring an additional 106 shares in the last quarter. Advisory Services Network LLC purchased a new stake in shares of monday.com during the 3rd quarter worth $28,000. Quarry LP acquired a new position in shares of monday.com during the fourth quarter worth $29,000. Abound Wealth Management purchased a new position in monday.com in the fourth quarter valued at $30,000. Finally, Promus Capital LLC acquired a new stake in monday.com in the second quarter valued at $45,000. 73.70% of the stock is owned by hedge funds and other institutional investors.

monday.com Company Profile

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.