monday.com (NASDAQ:MNDY) Share Price Crosses Below 50-Day Moving Average – What’s Next?

monday.com Ltd. (NASDAQ:MNDY) shares crossed 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 traded.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on MNDY shares. Capital One Financial cut monday.com from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a report on Monday, August 10th. Citigroup decreased their price target on shares of monday.com from $154.00 to $132.00 and set a “buy” rating on the stock in a research note on Tuesday, August 11th. Piper Sandler reissued a “neutral” rating and set a $90.00 target price on shares of monday.com in a research report on Thursday, October 29th. Zacks Research lowered shares of monday.com from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 15th. Finally, JPMorgan Chase & Co. cut monday.com from an “overweight” rating to a “neutral” rating and decreased their price target for the stock from $90.00 to $87.00 in a research note on Tuesday, September 29th. Twelve investment analysts have rated the stock with a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $107.35.

monday.com Stock Down 6.3%

The firm has a market capitalization of $4.50 billion, a PE ratio of 37.42, a price-to-earnings-growth ratio of 2.15 and a beta of 1.06. The company’s fifty day simple moving average is $90.72 and its 200 day simple moving average is $83.05.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $355.55 million. During the same quarter in the previous year, the company posted $1.09 earnings per share. The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. Equities research analysts forecast that monday.com Ltd. will post 2.34 EPS for the current year.

Insider Buying and Selling

In related news, Director Aviad Eyal sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $100.04, for a total transaction of $200,080.00. Following the completion of the transaction, the director owned 203,455 shares in the company, valued at $20,353,638.20. The trade was a 0.97% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.30% of the stock is currently owned by corporate insiders.

Institutional Trading of monday.com

Large investors have recently made changes to their positions in the stock. SEB Asset Management AB purchased a new position in monday.com in the first quarter worth approximately $1,639,000. Swiss National Bank lifted its position in monday.com by 28.6% during 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 in the last quarter. Empowered Funds LLC grew its position in shares of monday.com by 4,194.6% during the 1st quarter. Empowered Funds LLC now owns 14,430 shares of the company’s stock worth $997,000 after buying an additional 14,094 shares during the period. Public Employees Retirement System of Ohio purchased a new position in monday.com in the 2nd quarter worth approximately $970,000. Finally, Arkadios Wealth Advisors bought a new position in monday.com in the 1st quarter worth approximately $1,534,000. 73.70% of the stock is currently owned by 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.