monday.com (NASDAQ:MNDY) Shares Down 6.4% – Here’s Why

monday.com Ltd. (NASDAQ:MNDY)’s share price dropped 6.4% on Wednesday . The company traded as low as $130.34 and last traded at $130.3450. Approximately 1,858,966 shares traded hands during mid-day trading, an increase of 33% from the average daily volume of 1,400,537 shares. The stock had previously closed at $139.22.

Analyst Upgrades and Downgrades

Several research firms have issued reports on MNDY. Cantor Fitzgerald cut their price objective on monday.com from $286.00 to $257.00 and set an “overweight” rating for the company in a research report on Thursday, September 18th. Jefferies Financial Group lowered their price target on shares of monday.com from $300.00 to $260.00 and set a “buy” rating on the stock in a research note on Monday, January 5th. Wells Fargo & Company cut their price target on shares of monday.com from $260.00 to $200.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. JPMorgan Chase & Co. reduced their price objective on shares of monday.com from $285.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Finally, Citigroup decreased their price objective on shares of monday.com from $319.00 to $293.00 and set a “buy” rating on the stock in a report on Tuesday, December 23rd. One analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, monday.com currently has an average rating of “Moderate Buy” and a consensus target price of $257.39.

monday.com Stock Performance

The firm has a market capitalization of $6.43 billion, a PE ratio of 103.01, a price-to-earnings-growth ratio of 3.05 and a beta of 1.26. The firm’s 50-day moving average is $149.16 and its 200 day moving average is $194.41.

monday.com (NASDAQ:MNDY) last announced its earnings results on Monday, November 10th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.27. monday.com had a net margin of 5.58% and a return on equity of 5.99%. The company had revenue of $316.86 million during the quarter, compared to analysts’ expectations of $312.26 million. During the same quarter in the previous year, the business posted $0.85 earnings per share. The firm’s quarterly revenue was up 26.3% compared to the same quarter last year. As a group, equities analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

A number of large investors have recently bought and sold shares of the stock. Capital World Investors raised its holdings in shares of monday.com by 231.2% in the third quarter. Capital World Investors now owns 1,717,263 shares of the company’s stock worth $332,617,000 after acquiring an additional 1,198,761 shares during the last quarter. Rubicon Global Capital Ltd boosted its stake in shares of monday.com by 155.3% during the second quarter. Rubicon Global Capital Ltd now owns 1,442,900 shares of the company’s stock valued at $453,763,000 after acquiring an additional 877,700 shares during the last quarter. Norges Bank purchased a new stake in monday.com during the 2nd quarter worth about $161,114,000. SG Americas Securities LLC raised its stake in monday.com by 110.9% in the 4th quarter. SG Americas Securities LLC now owns 932,912 shares of the company’s stock valued at $137,660,000 after purchasing an additional 490,491 shares during the last quarter. Finally, Baillie Gifford & Co. raised its stake in monday.com by 136.5% in the 3rd quarter. Baillie Gifford & Co. now owns 708,278 shares of the company’s stock valued at $137,186,000 after purchasing an additional 408,848 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Company Profile

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.