monday.com (NASDAQ:MNDY) Stock Price Down 2.9%

monday.com Ltd. (NASDAQ:MNDY)’s stock price traded down 2.9% on Friday . The company traded as low as $178.63 and last traded at $179.65. 207,380 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 801,506 shares. The stock had previously closed at $185.10.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Citigroup cut shares of monday.com from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $277.00 to $250.00 in a research report on Wednesday, April 10th. Bank of America assumed coverage on shares of monday.com in a research report on Monday, February 26th. They issued a “buy” rating and a $280.00 price objective for the company. Jefferies Financial Group raised shares of monday.com from a “hold” rating to a “buy” rating and upped their price objective for the company from $180.00 to $230.00 in a research report on Friday, January 5th. Oppenheimer increased their price target on shares of monday.com from $220.00 to $240.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 13th. Finally, JPMorgan Chase & Co. increased their price target on shares of monday.com from $230.00 to $270.00 and gave the stock an “overweight” rating in a research report on Monday, March 25th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, monday.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $238.33.

monday.com Stock Down 2.9 %

The stock has a market cap of $8.68 billion, a price-to-earnings ratio of -2,554.78 and a beta of 1.18. The firm’s 50 day moving average is $216.66 and its two-hundred day moving average is $188.43.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, February 12th. The company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.33. The firm had revenue of $202.60 million for the quarter, compared to analyst estimates of $197.97 million. monday.com had a negative net margin of 0.26% and a negative return on equity of 0.43%. monday.com’s quarterly revenue was up 35.5% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) earnings per share. On average, analysts anticipate that monday.com Ltd. will post -0.16 EPS for the current fiscal year.

Institutional Investors Weigh In On monday.com

Institutional investors and hedge funds have recently bought and sold shares of the business. Desjardins Global Asset Management Inc. increased its stake in shares of monday.com by 222.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the company’s stock valued at $25,000 after purchasing an additional 91 shares during the period. Crewe Advisors LLC increased its stake in shares of monday.com by 44.9% in the third quarter. Crewe Advisors LLC now owns 229 shares of the company’s stock valued at $36,000 after purchasing an additional 71 shares during the period. Arlington Partners LLC increased its stake in shares of monday.com by 104.1% in the third quarter. Arlington Partners LLC now owns 247 shares of the company’s stock valued at $39,000 after purchasing an additional 126 shares during the period. Quarry LP increased its stake in shares of monday.com by 192.0% in the first quarter. Quarry LP now owns 254 shares of the company’s stock valued at $36,000 after purchasing an additional 167 shares during the period. Finally, Employees Retirement System of Texas acquired a new stake in shares of monday.com in the fourth quarter valued at approximately $53,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

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.