monday.com (NASDAQ:MNDY) Trading Down 6.1% – Time to Sell?

monday.com Ltd. (NASDAQ:MNDY)’s stock price was down 6.1% on Thursday . The company traded as low as $236.00 and last traded at $234.78. Approximately 74,717 shares were traded during trading, a decline of 90% from the average daily volume of 759,836 shares. The stock had previously closed at $250.00.

Analyst Upgrades and Downgrades

MNDY has been the subject of several recent analyst reports. JPMorgan Chase & Co. upped their price objective on shares of monday.com from $350.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Wells Fargo & Company upped their price objective on shares of monday.com from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. Needham & Company LLC raised their price target on monday.com from $350.00 to $400.00 and gave the company a “buy” rating in a report on Monday, February 10th. Citigroup raised monday.com from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $302.00 to $298.00 in a research report on Thursday, January 16th. Finally, Cantor Fitzgerald raised their target price on shares of monday.com from $292.00 to $380.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $358.32.

monday.com Stock Performance

The firm has a market cap of $11.65 billion, a price-to-earnings ratio of 400.59, a price-to-earnings-growth ratio of 16.53 and a beta of 1.27. The company has a 50 day moving average price of $265.33 and a 200 day moving average price of $269.71.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, February 10th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a return on equity of 6.22% and a net margin of 3.33%. On average, research analysts forecast that monday.com Ltd. will post 0.46 earnings per share for the current year.

Institutional Investors Weigh In On monday.com

Large investors have recently bought and sold shares of the stock. Janney Montgomery Scott LLC purchased a new stake in shares of monday.com during the third quarter worth approximately $1,001,000. Principal Financial Group Inc. increased its position in shares of monday.com by 35.8% in the 3rd quarter. Principal Financial Group Inc. now owns 53,306 shares of the company’s stock valued at $14,807,000 after purchasing an additional 14,059 shares during the last quarter. Assetmark Inc. raised its holdings in shares of monday.com by 7.2% in the 3rd quarter. Assetmark Inc. now owns 5,586 shares of the company’s stock valued at $1,552,000 after purchasing an additional 376 shares in the last quarter. State of New Jersey Common Pension Fund D lifted its position in shares of monday.com by 12.2% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 15,691 shares of the company’s stock worth $4,358,000 after purchasing an additional 1,700 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its stake in shares of monday.com by 83.8% during the third quarter. Venturi Wealth Management LLC now owns 1,000 shares of the company’s stock worth $278,000 after purchasing an additional 456 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

About monday.com

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.