monday.com (NASDAQ:MNDY) Shares Gap Down – Time to Sell?

Shares of monday.com Ltd. (NASDAQ:MNDY) gapped down before the market opened on Thursday . The stock had previously closed at $81.02, but opened at $77.69. monday.com shares last traded at $80.5810, with a volume of 90,012 shares traded.

Analyst Ratings Changes

MNDY has been the subject of several analyst reports. Oppenheimer set a $115.00 price target on shares of monday.com in a research note on Monday, May 11th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of monday.com in a research report on Thursday, June 11th. Jefferies Financial Group reiterated a “hold” rating on shares of monday.com in a report on Tuesday, May 12th. TD Cowen increased their price objective on monday.com from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Finally, UBS Group cut their target price on monday.com from $93.00 to $85.00 and set a “neutral” rating for the company in a research note on Tuesday, May 12th. Seventeen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $126.48.

monday.com Stock Performance

The company has a market capitalization of $4.18 billion, a price-to-earnings ratio of 35.56, a P/E/G ratio of 4.21 and a beta of 1.26. The firm has a 50-day simple moving average of $76.84 and a two-hundred day simple moving average of $88.83.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Friday, March 13th. The company reported $1.15 earnings per share (EPS) for the quarter. The business had revenue of $351.26 million for the quarter. monday.com had a net margin of 9.17% and a return on equity of 5.10%. As a group, equities analysts forecast that monday.com Ltd. will post 1.59 EPS for the current fiscal year.

Institutional Investors Weigh In On monday.com

Large investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC boosted its position in monday.com by 2,120.0% in the 1st quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after buying an additional 106 shares during the period. Advisory Services Network LLC purchased a new stake in shares of monday.com during the third quarter worth $28,000. EverSource Wealth Advisors LLC increased its position in shares of monday.com by 498.6% during the first quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock worth $29,000 after acquiring an additional 354 shares during the period. Quarry LP acquired a new stake in shares of monday.com in the fourth quarter valued at $29,000. Finally, Abound Wealth Management acquired a new stake in shares of monday.com in the fourth quarter valued at $30,000. 73.70% of the stock is owned by hedge funds and other 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.