monday.com (NASDAQ:MNDY) Stock Price Down 2.9%

Shares of monday.com Ltd. (NASDAQ:MNDY) were down 2.9% during mid-day trading on Friday . The company traded as low as $178.63 and last traded at $179.65. Approximately 207,380 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 801,506 shares. The stock had previously closed at $185.10.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MNDY shares. Needham & Company LLC restated a “buy” rating and issued a $230.00 price target on shares of monday.com in a research report on Tuesday, February 13th. Wells Fargo & Company initiated coverage on monday.com in a report on Tuesday, April 9th. They issued an “overweight” rating and a $260.00 price objective on the stock. DA Davidson reiterated a “neutral” rating and issued a $190.00 price objective on shares of monday.com in a report on Tuesday, February 13th. Tigress Financial upped their price objective on monday.com from $240.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, KeyCorp initiated coverage on monday.com in a report on Thursday, March 21st. They issued an “overweight” rating and a $275.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $238.33.

monday.com Stock Down 2.9 %

The firm has a 50-day moving average price of $216.66 and a 200 day moving average price of $188.43. The firm has a market capitalization of $8.68 billion, a PE ratio of -2,554.78 and a beta of 1.18.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, February 12th. The company reported $0.65 EPS for the quarter, topping the consensus estimate of $0.32 by $0.33. The business had revenue of $202.60 million during the quarter, compared to analyst estimates of $197.97 million. monday.com had a negative return on equity of 0.43% and a negative net margin of 0.26%. The company’s quarterly revenue was up 35.5% on a year-over-year basis. During the same period last year, the business posted ($0.03) earnings per share. Equities research analysts expect that monday.com Ltd. will post -0.16 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD boosted its holdings in monday.com by 98.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,684,101 shares of the company’s stock valued at $383,156,000 after purchasing an additional 1,332,770 shares during the period. Acadian Asset Management LLC boosted its holdings in monday.com by 35.8% in the third quarter. Acadian Asset Management LLC now owns 1,137,850 shares of the company’s stock valued at $181,124,000 after purchasing an additional 300,011 shares during the period. 1832 Asset Management L.P. boosted its holdings in monday.com by 44.6% in the fourth quarter. 1832 Asset Management L.P. now owns 893,500 shares of the company’s stock valued at $109,007,000 after purchasing an additional 275,800 shares during the period. Whale Rock Capital Management LLC purchased a new position in monday.com in the second quarter valued at $140,686,000. Finally, BlackRock Inc. raised its stake in monday.com by 577.1% in the second quarter. BlackRock Inc. now owns 761,969 shares of the company’s stock valued at $130,464,000 after buying an additional 649,439 shares in the last quarter. 73.70% of the stock is currently 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.