monday.com (NASDAQ:MNDY) Trading Down 3.7%

monday.com Ltd. (NASDAQ:MNDY)’s stock price was down 3.7% during trading on Wednesday . The stock traded as low as $228.71 and last traded at $228.86. Approximately 215,253 shares were traded during trading, a decline of 74% from the average daily volume of 828,656 shares. The stock had previously closed at $237.74.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MNDY shares. William Blair reissued an “outperform” rating on shares of monday.com in a report on Monday, June 24th. Needham & Company LLC restated a “buy” rating and set a $250.00 price target on shares of monday.com in a research report on Monday, June 17th. JPMorgan Chase & Co. raised their target price on monday.com from $230.00 to $270.00 and gave the company an “overweight” rating in a research note on Monday, March 25th. Wells Fargo & Company lifted their price target on shares of monday.com from $260.00 to $275.00 and gave the stock an “overweight” rating in a research report on Thursday, May 16th. Finally, Oppenheimer upped their price objective on shares of monday.com from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $255.83.

monday.com Stock Performance

The business has a 50 day moving average price of $222.24 and a 200-day moving average price of $212.51. The company has a market capitalization of $11.23 billion, a price-to-earnings ratio of 625.65, a P/E/G ratio of 48.84 and a beta of 1.30.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Wednesday, May 15th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.25. monday.com had a net margin of 2.53% and a return on equity of 2.42%. The business had revenue of $216.91 million during the quarter, compared to analyst estimates of $210.33 million. As a group, equities analysts predict that monday.com Ltd. will post 0.12 EPS for the current fiscal year.

Institutional Trading of monday.com

Several hedge funds have recently made changes to their positions in the company. California State Teachers Retirement System increased its holdings in shares of monday.com by 11.0% in the third quarter. California State Teachers Retirement System now owns 19,387 shares of the company’s stock worth $3,087,000 after purchasing an additional 1,928 shares during the period. Diversified Trust Co grew its position in shares of monday.com by 28.3% in the 3rd quarter. Diversified Trust Co now owns 6,508 shares of the company’s stock worth $1,036,000 after buying an additional 1,436 shares during the period. Phoenix Holdings Ltd. increased its stake in shares of monday.com by 52.1% during the third quarter. Phoenix Holdings Ltd. now owns 3,112 shares of the company’s stock valued at $494,000 after purchasing an additional 1,066 shares in the last quarter. Renaissance Capital LLC raised its stake in monday.com by 27.9% during the fourth quarter. Renaissance Capital LLC now owns 15,783 shares of the company’s stock valued at $2,964,000 after buying an additional 3,439 shares during the last quarter. Finally, Harbor Capital Advisors Inc. boosted its stake in monday.com by 199.6% in the 4th quarter. Harbor Capital Advisors Inc. now owns 2,559 shares of the company’s stock worth $481,000 after purchasing an additional 1,705 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors.

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.