monday.com (NASDAQ:MNDY) Hits New 1-Year Low – Here’s Why

monday.com Ltd. (NASDAQ:MNDY) shares hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $139.50 and last traded at $140.1950, with a volume of 506687 shares changing hands. The stock had previously closed at $146.35.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MNDY shares. Weiss Ratings reiterated a “sell (d)” rating on shares of monday.com in a report on Wednesday, October 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $250.00 price target on shares of monday.com in a research report on Thursday, September 18th. Wells Fargo & Company dropped their target price on monday.com from $260.00 to $200.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Morgan Stanley dropped their price objective on shares of monday.com from $260.00 to $236.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Finally, Citigroup dropped their target price on shares of monday.com from $319.00 to $293.00 and set a “buy” rating for the company in a research report on Tuesday, December 23rd. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, three 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 has an average rating of “Moderate Buy” and an average target price of $257.39.

monday.com Stock Up 1.9%

The stock has a 50-day simple moving average of $150.42 and a 200-day simple moving average of $195.71. The firm has a market capitalization of $6.74 billion, a PE ratio of 107.98, a P/E/G ratio of 3.00 and a beta of 1.26.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, November 10th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.27. The business had revenue of $316.86 million for the quarter, compared to the consensus estimate of $312.26 million. monday.com had a return on equity of 5.99% and a net margin of 5.58%.The company’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same quarter last year, the business posted $0.85 earnings per share. Equities analysts forecast that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Institutional Trading of monday.com

A number of institutional investors have recently modified their holdings of MNDY. NewEdge Advisors LLC grew its stake in shares of monday.com by 2,120.0% during the 1st quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares during the period. Advisory Services Network LLC purchased a new stake in shares of monday.com in the third quarter valued at about $28,000. Abound Wealth Management purchased a new position in shares of monday.com in the 4th quarter valued at about $30,000. Promus Capital LLC purchased a new position in monday.com in the 2nd quarter valued at approximately $45,000. Finally, Smartleaf Asset Management LLC lifted its position in monday.com by 575.8% during the third quarter. Smartleaf Asset Management LLC now owns 223 shares of the company’s stock valued at $45,000 after buying an additional 190 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors.

About monday.com

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.