monday.com (NASDAQ:MNDY) Shares Break Below 50 Day Moving Average – Time to Sell?

monday.com Ltd. (NASDAQ:MNDY) shares passed below its 50 day moving average during trading on Friday. The stock has a 50 day moving average of $90.72 and traded as low as $86.77. monday.com shares last traded at $87.93, with a volume of 1,752,077 shares.

Wall Street Analysts Forecast Growth

MNDY has been the subject of a number of analyst reports. Weiss Ratings upgraded shares of monday.com from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, October 15th. BTIG Research restated a “buy” rating and issued a $105.00 target price on shares of monday.com in a report on Thursday, October 29th. Wall Street Zen raised shares of monday.com from a “hold” rating to a “buy” rating in a research report on Sunday, November 1st. Zacks Research downgraded monday.com from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 15th. Finally, UBS Group reissued a “buy” rating on shares of monday.com in a report on Tuesday, October 27th. Twelve research analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $107.35.

monday.com Stock Down 6.3%

The company has a market capitalization of $4.50 billion, a PE ratio of 37.42, a PEG ratio of 1.98 and a beta of 1.06. The company has a 50-day moving average price of $90.72 and a two-hundred day moving average price of $83.05.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.11 by $0.37. monday.com had a return on equity of 9.09% and a net margin of 8.87%. The business had revenue of $364.62 million for the quarter, compared to analysts’ expectations of $355.55 million. During the same quarter in the prior year, the firm posted $1.09 EPS. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. As a group, equities analysts anticipate that monday.com Ltd. will post 2.34 EPS for the current fiscal year.

Insider Activity

In other news, Director Aviad Eyal sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 20th. The shares were sold at an average price of $100.04, for a total value of $200,080.00. Following the completion of the transaction, the director directly owned 203,455 shares in the company, valued at approximately $20,353,638.20. This trade represents a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 22.30% of the company’s stock.

Institutional Trading of monday.com

Several institutional investors and hedge funds have recently bought and sold shares of the company. Fulton Bank N.A. raised its stake in shares of monday.com by 5.1% during the 2nd quarter. Fulton Bank N.A. now owns 3,339 shares of the company’s stock valued at $242,000 after buying an additional 162 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of monday.com by 498.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company’s stock valued at $29,000 after buying an additional 354 shares during the period. Signaturefd LLC lifted its holdings in shares of monday.com by 28.3% in the 3rd quarter. Signaturefd LLC now owns 4,469 shares of the company’s stock valued at $351,000 after buying an additional 987 shares during the period. State of Wyoming boosted its stake in shares of monday.com by 96.6% in the first quarter. State of Wyoming now owns 3,497 shares of the company’s stock worth $242,000 after buying an additional 1,718 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of monday.com by 56.8% in the third quarter. Commonwealth Equity Services LLC now owns 4,746 shares of the company’s stock worth $372,000 after buying an additional 1,720 shares during the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

monday.com Company Profile

monday.com Ltd. is a software company that provides a cloud-based Work Operating System (Work OS) designed to help organizations manage projects, workflows and business operations. Its platform uses configurable boards, dashboards, automations, integrations and collaboration tools, enabling teams to organize work and build workflows without extensive software development.

The company offers products tailored to several business functions, including monday work management for project and task coordination, monday CRM for sales and customer relationship processes, monday dev for software development teams, and monday service for managing customer support and service operations.