monday.com (NASDAQ:MNDY) Trading Down 4.3% – Here’s What Happened

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

Analyst Upgrades and Downgrades

A number of research analysts recently commented on MNDY shares. William Blair reissued an “outperform” rating on shares of monday.com in a report on Wednesday, December 18th. Oppenheimer increased their target price on monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. DA Davidson reiterated a “neutral” rating and set a $300.00 price objective on shares of monday.com in a research note on Tuesday, November 12th. KeyCorp downgraded shares of monday.com from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Finally, Wells Fargo & Company increased their price target on shares of monday.com from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. 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 stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.68.

monday.com Price Performance

The stock has a market capitalization of $12.07 billion, a P/E ratio of 608.99, a PEG ratio of 6.29 and a beta of 1.30. The stock’s fifty day moving average is $254.06 and its two-hundred day moving average is $260.20.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. acquired a new stake in shares of monday.com during the 3rd quarter valued at about $1,667,000. International Assets Investment Management LLC acquired a new position in shares of monday.com during the 3rd quarter worth $21,989,000. Taylor Frigon Capital Management LLC bought a new position in shares of monday.com during the 3rd quarter valued at $1,311,000. Jennison Associates LLC lifted its stake in shares of monday.com by 77.5% in the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after purchasing an additional 318,837 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in monday.com by 6.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 36,572 shares of the company’s stock worth $10,159,000 after purchasing an additional 2,196 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

About monday.com

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.