monday.com (NASDAQ:MNDY) Stock Price Down 4.3% – Time to Sell?

Shares of monday.com Ltd. (NASDAQ:MNDY) dropped 4.3% during trading on Wednesday . The stock traded as low as $252.39 and last traded at $253.43. Approximately 146,674 shares traded hands during trading, a decline of 84% from the average daily volume of 897,989 shares. The stock had previously closed at $264.92.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. Barclays lifted their price target on shares of monday.com from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. DA Davidson reiterated a “neutral” rating and issued a $300.00 target price on shares of monday.com in a report on Tuesday, November 12th. Needham & Company LLC upped their price target on shares of monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Loop Capital dropped their price objective on monday.com from $310.00 to $300.00 and set a “buy” rating on the stock in a research note on Monday, December 23rd. Finally, Capital One Financial began coverage on monday.com in a report on Thursday, October 10th. They issued an “overweight” rating and a $325.00 target price on the stock. Five analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, monday.com presently has a consensus rating of “Moderate Buy” and an average price target of $310.68.

monday.com Stock Performance

The firm has a market cap of $12.07 billion, a price-to-earnings ratio of 608.99, a P/E/G ratio of 6.29 and a beta of 1.30. The company’s 50-day moving average is $254.06 and its 200-day moving average is $260.20.

monday.com (NASDAQ:MNDY) last announced its earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. The company had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. monday.com’s quarterly revenue was up 49.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.15 earnings per share. On average, analysts predict that monday.com Ltd. will post 0.85 EPS for the current year.

Institutional Trading of monday.com

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stonebridge Financial Group LLC bought a new position in shares of monday.com in the 4th quarter valued at about $25,000. R Squared Ltd acquired a new position in monday.com during the fourth quarter valued at approximately $33,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in monday.com during the third quarter valued at approximately $43,000. Toronto Dominion Bank acquired a new stake in monday.com in the second quarter worth $120,000. Finally, Spire Wealth Management bought a new position in shares of monday.com during the fourth quarter worth $125,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

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.