monday.com (NASDAQ:MNDY) Shares Gap Down – Time to Sell?

monday.com Ltd. (NASDAQ:MNDY) gapped down before the market opened on Monday . The stock had previously closed at $75.58, but opened at $71.81. monday.com shares last traded at $72.0730, with a volume of 531,788 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have weighed in on MNDY. Barclays set a $115.00 target price on shares of monday.com in a research note on Tuesday, February 10th. Cantor Fitzgerald reduced their price objective on monday.com from $148.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday, February 10th. Canaccord Genuity Group dropped their target price on monday.com from $190.00 to $140.00 and set a “buy” rating on the stock in a report on Tuesday, February 10th. Piper Sandler reduced their price target on monday.com from $170.00 to $100.00 and set an “overweight” rating for the company in a report on Tuesday, February 10th. Finally, JPMorgan Chase & Co. lowered their price target on monday.com from $285.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $155.38.

monday.com Trading Down 8.1%

The company’s 50 day moving average price is $122.34 and its two-hundred day moving average price is $160.46. The firm has a market cap of $3.53 billion, a PE ratio of 31.07, a PEG ratio of 1.40 and a beta of 1.25.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, February 9th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. The company had revenue of $333.88 million during the quarter, compared to the consensus estimate of $329.71 million. monday.com had a return on equity of 4.80% and a net margin of 9.64%.The firm’s revenue was up 24.6% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 EPS. Equities research analysts expect that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

Several institutional investors have recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. raised its stake in monday.com by 15.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,274,910 shares of the company’s stock valued at $188,126,000 after purchasing an additional 165,996 shares in the last quarter. Sunstone Asset Management L.P. purchased a new position in shares of monday.com during the fourth quarter valued at approximately $1,718,000. Empowered Funds LLC bought a new position in shares of monday.com during the fourth quarter valued at approximately $50,000. XTX Topco Ltd raised its holdings in shares of monday.com by 244.8% in the fourth quarter. XTX Topco Ltd now owns 27,927 shares of the company’s stock worth $4,121,000 after buying an additional 19,827 shares during the period. Finally, Twinbeech Capital LP bought a new stake in shares of monday.com during the 4th quarter worth approximately $2,601,000. Hedge funds and other institutional investors own 73.70% of the company’s stock.

About monday.com

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.