monday.com (NASDAQ:MNDY) Stock Price Down 2.2% – Time to Sell?

Shares of monday.com Ltd. (NASDAQ:MNDY) dropped 2.2% during trading on Wednesday . The stock traded as low as $285.96 and last traded at $286.44. Approximately 33,311 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 727,778 shares. The stock had previously closed at $293.00.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. The Goldman Sachs Group increased their price target on shares of monday.com from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Wells Fargo & Company boosted their price target on monday.com from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Oppenheimer upped their price objective on monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Robert W. Baird boosted their target price on monday.com from $265.00 to $270.00 and gave the company a “neutral” rating in a report on Tuesday, November 12th. Finally, Needham & Company LLC upped their price target on monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $310.81.

monday.com Trading Down 3.0 %

The company has a market capitalization of $13.72 billion, a PE ratio of 690.29, a PEG ratio of 8.25 and a beta of 1.31. The company’s 50 day moving average price is $282.80 and its 200-day moving average price is $252.52.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The business had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $246.17 million. During the same quarter in the previous year, the business earned $0.15 EPS. The company’s revenue for the quarter was up 49.5% on a year-over-year basis. As a group, analysts predict that monday.com Ltd. will post 0.85 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in MNDY. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of monday.com in the third quarter worth about $43,000. Ridgewood Investments LLC bought a new position in monday.com during the 2nd quarter worth $45,000. Gilliland Jeter Wealth Management LLC boosted its holdings in shares of monday.com by 72.9% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after acquiring an additional 102 shares during the period. Opal Wealth Advisors LLC bought a new position in monday.com in the 2nd quarter worth about $69,000. Finally, Toronto Dominion Bank acquired a new stake in monday.com in the 2nd quarter valued at approximately $120,000. 73.70% of the stock is owned by hedge funds and other institutional investors.

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.