monday.com (NASDAQ:MNDY) Sets New 52-Week Low – Here’s What Happened

monday.com Ltd. (NASDAQ:MNDY)’s share price reached a new 52-week low on Monday . The company traded as low as $66.18 and last traded at $67.7270, with a volume of 192547 shares. The stock had previously closed at $68.34.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Cantor Fitzgerald dropped their price target on monday.com from $148.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, February 10th. Robert W. Baird restated a “neutral” rating and set a $90.00 price objective (down from $175.00) on shares of monday.com in a research report on Tuesday, February 10th. Tigress Financial lifted their target price on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. Piper Sandler decreased their price target on monday.com from $170.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, February 10th. Finally, Morgan Stanley lowered their price target on monday.com from $236.00 to $200.00 and set an “overweight” rating for the company in a research report on Tuesday, January 27th. Nineteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, monday.com presently has an average rating of “Moderate Buy” and a consensus price target of $155.38.

monday.com Trading Down 1.8%

The stock has a 50 day moving average of $81.32 and a 200-day moving average of $136.26. The stock has a market capitalization of $3.43 billion, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 1.26 and a beta of 1.29.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, February 9th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.91 by $0.13. monday.com had a return on equity of 4.80% and a net margin of 9.64%.The company had revenue of $333.88 million for the quarter, compared to the consensus estimate of $329.71 million. During the same quarter in the prior year, the company posted $1.08 EPS. monday.com’s quarterly revenue was up 24.6% on a year-over-year basis. Research analysts anticipate that monday.com Ltd. will post 0.46 EPS for the current year.

Hedge Funds Weigh In On monday.com

A number of hedge funds have recently added to or reduced their stakes in MNDY. DUTCH ASSET Corp purchased a new stake in shares of monday.com in the fourth quarter valued at approximately $324,000. Hsbc Holdings PLC lifted its holdings in shares of monday.com by 6.4% in the 4th quarter. Hsbc Holdings PLC now owns 21,774 shares of the company’s stock worth $3,226,000 after buying an additional 1,301 shares during the period. DGS Capital Management LLC increased its stake in shares of monday.com by 37.0% during the fourth quarter. DGS Capital Management LLC now owns 1,922 shares of the company’s stock valued at $284,000 after buying an additional 519 shares during the period. Avory & Company LLC bought a new stake in shares of monday.com in the fourth quarter valued at about $337,000. Finally, T. Rowe Price Investment Management Inc. lifted its stake in monday.com by 15.0% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,274,910 shares of the company’s stock worth $188,126,000 after acquiring an additional 165,996 shares during the period. 73.70% of the stock is currently owned by institutional investors.

About monday.com

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.