monday.com (NASDAQ:MNDY) Shares Down 6.3% – Should You Sell?

Shares of monday.com Ltd. (NASDAQ:MNDY) dropped 6.3% on Tuesday . The company traded as low as $254.77 and last traded at $256.14. Approximately 1,024,470 shares traded hands during trading, an increase of 41% from the average daily volume of 727,135 shares. The stock had previously closed at $273.33.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on MNDY shares. KeyCorp downgraded monday.com from an “overweight” rating to a “sector weight” rating in a report on Friday. DA Davidson reiterated a “neutral” rating and issued a $300.00 price target on shares of monday.com in a research note on Tuesday, November 12th. Canaccord Genuity Group raised their price objective on shares of monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a research note on Tuesday, November 12th. Loop Capital lifted their target price on shares of monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, TD Cowen increased their price target on shares of monday.com from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $310.81.

monday.com Trading Down 7.9 %

The firm has a market cap of $12.16 billion, a PE ratio of 624.73, a PEG ratio of 7.75 and a beta of 1.25. The company’s 50 day moving average price is $285.80 and its two-hundred day moving average price is $258.71.

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

Institutional Investors Weigh In On monday.com

A number of institutional investors have recently bought and sold shares of MNDY. Blue Trust Inc. raised its stake in monday.com by 10,650.0% during the 2nd quarter. Blue Trust Inc. now owns 645 shares of the company’s stock valued at $146,000 after purchasing an additional 639 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of monday.com by 14.3% during the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 64,606 shares of the company’s stock valued at $15,555,000 after purchasing an additional 8,106 shares in the last quarter. Raymond James & Associates increased its holdings in shares of monday.com by 9.8% in the second quarter. Raymond James & Associates now owns 31,845 shares of the company’s stock worth $7,667,000 after purchasing an additional 2,850 shares during the last quarter. Dakota Wealth Management boosted its stake in monday.com by 15.5% during the second quarter. Dakota Wealth Management now owns 2,454 shares of the company’s stock valued at $591,000 after buying an additional 330 shares during the last quarter. Finally, Fortis Capital Management LLC purchased a new position in monday.com during the 2nd quarter valued at approximately $200,000. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Company Profile

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.