monday.com (NASDAQ:MNDY) Stock Price Down 5.9% – Should You Sell?

monday.com Ltd. (NASDAQ:MNDY)’s stock price fell 5.9% during trading on Friday . The stock traded as low as $89.01 and last traded at $91.61. 171,098 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 1,910,476 shares. The stock had previously closed at $97.33.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MNDY. Wells Fargo & Company dropped their price objective on shares of monday.com from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. Zacks Research raised shares of monday.com from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. Piper Sandler restated a “neutral” rating and set a $90.00 target price on shares of monday.com in a report on Monday, August 10th. Wall Street Zen raised monday.com from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Finally, Cantor Fitzgerald downgraded monday.com from an “overweight” rating to a “neutral” rating and cut their price target for the company from $112.00 to $90.00 in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $117.91.

monday.com Trading Down 6.8%

The company’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 price-to-earnings-growth ratio of 2.21 and a beta of 1.15.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.37. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The company had revenue of $364.62 million for the quarter, compared to the consensus estimate of $355.55 million. During the same quarter in the previous year, the firm earned $1.09 EPS. monday.com’s revenue was up 21.9% compared to the same quarter last year. Sell-side analysts forecast that monday.com Ltd. will post 2.25 EPS for the current fiscal year.

Institutional Trading of monday.com

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its holdings in shares of monday.com by 2,120.0% in the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after purchasing an additional 106 shares during the period. American Century Companies Inc. lifted its holdings in shares of monday.com by 75.3% during the second quarter. American Century Companies Inc. now owns 4,192 shares of the company’s stock worth $1,318,000 after purchasing an additional 1,801 shares during the period. EverSource Wealth Advisors LLC boosted its position in monday.com by 76.5% in the second quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $47,000 after buying an additional 65 shares during the last quarter. Cerity Partners LLC boosted its position in monday.com by 28.8% in the second quarter. Cerity Partners LLC now owns 2,596 shares of the company’s stock valued at $816,000 after buying an additional 580 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in monday.com in the 2nd quarter worth approximately $398,000. 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.