monday.com (NASDAQ:MNDY) Trading Down 5.9% – What’s Next?

monday.com Ltd. (NASDAQ:MNDY) was down 5.9% on Friday . The stock traded as low as $89.01 and last traded at $91.61. Approximately 171,098 shares traded hands during trading, a decline of 91% from the average session volume of 1,910,476 shares. The stock had previously closed at $97.33.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on MNDY. BTIG Research reaffirmed a “buy” rating and set a $105.00 price objective on shares of monday.com in a report on Monday, August 10th. Weiss Ratings reissued a “sell (d+)” rating on shares of monday.com in a report on Thursday, June 11th. Wall Street Zen upgraded shares of monday.com from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Zacks Research raised shares of monday.com from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Finally, TD Cowen reaffirmed a “buy” rating and set a $110.00 price target on shares of monday.com in a research note on Tuesday, August 11th. One research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $117.91.

monday.com Trading Down 6.8%

The business’s 50 day moving average is $85.92 and its 200 day moving average is $77.86. The stock has a market capitalization of $4.64 billion, a PE ratio of 38.56, a PEG ratio of 2.21 and a beta of 1.15.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.37. The company had revenue of $364.62 million for the quarter, compared to analyst estimates of $355.55 million. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The firm’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same period in the prior year, the company posted $1.09 EPS. As a group, analysts anticipate that monday.com Ltd. will post 2.25 EPS for the current year.

Institutional Investors Weigh In On monday.com

Institutional investors and hedge funds have recently modified their holdings of the business. Swiss National Bank lifted its holdings in shares of monday.com by 28.6% in the 1st quarter. Swiss National Bank now owns 159,100 shares of the company’s stock worth $10,995,000 after buying an additional 35,400 shares during the period. SEB Asset Management AB purchased a new position in shares of monday.com during the first quarter valued at $1,639,000. NewEdge Wealth LLC bought a new stake in shares of monday.com in the fourth quarter valued at about $5,635,000. Empowered Funds LLC raised its holdings in shares of monday.com by 4,194.6% in the first quarter. Empowered Funds LLC now owns 14,430 shares of the company’s stock valued at $997,000 after acquiring an additional 14,094 shares in the last quarter. Finally, Arkadios Wealth Advisors purchased a new stake in monday.com in the first quarter worth about $1,534,000. 73.70% of the stock is owned by institutional investors.

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.