monday.com (NASDAQ:MNDY) Trading Down 2.8%

Shares of monday.com Ltd. (NASDAQ:MNDY) were down 2.8% during trading on Thursday . The company traded as low as $158.33 and last traded at $160.75. Approximately 474,225 shares were traded during mid-day trading, a decline of 37% from the average daily volume of 758,019 shares. The stock had previously closed at $165.36.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on MNDY shares. KeyCorp boosted their price objective on monday.com from $200.00 to $211.00 and gave the company an “overweight” rating in a research report on Tuesday, August 15th. Loop Capital boosted their price objective on monday.com from $180.00 to $205.00 and gave the company a “buy” rating in a research report on Tuesday, August 15th. JPMorgan Chase & Co. upped their price target on monday.com from $160.00 to $180.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 9th. DA Davidson upped their price target on monday.com from $160.00 to $170.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 15th. Finally, Citigroup upped their price target on monday.com from $224.00 to $234.00 and gave the stock a “buy” rating in a research report on Tuesday, August 15th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, monday.com has an average rating of “Moderate Buy” and a consensus price target of $196.56.

monday.com Trading Down 0.4 %

The firm has a fifty day moving average price of $170.44 and a 200-day moving average price of $156.01.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, August 14th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.17 by $0.24. The company had revenue of $175.70 million for the quarter, compared to analyst estimates of $169.25 million. monday.com had a negative return on equity of 6.92% and a negative net margin of 7.40%. monday.com’s quarterly revenue was up 42.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.01) EPS. Research analysts anticipate that monday.com Ltd. will post -1.2 earnings per share for the current year.

Institutional Trading of monday.com

Several large investors have recently bought and sold shares of the business. Insight Holdings Group LLC boosted its stake in monday.com by 6.0% in the fourth quarter. Insight Holdings Group LLC now owns 13,721,287 shares of the company’s stock valued at $1,673,997,000 after buying an additional 772,450 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake 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 buying an additional 1,332,770 shares in the last quarter. Franklin Resources Inc. boosted its stake in monday.com by 13.2% in the fourth quarter. Franklin Resources Inc. now owns 2,145,567 shares of the company’s stock valued at $261,759,000 after buying an additional 250,756 shares in the last quarter. 1832 Asset Management L.P. boosted its stake in monday.com by 5.6% in the second quarter. 1832 Asset Management L.P. now owns 943,500 shares of the company’s stock valued at $161,546,000 after buying an additional 50,000 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of monday.com by 91.3% during the second quarter. Acadian Asset Management LLC now owns 837,839 shares of the company’s stock valued at $143,416,000 after purchasing an additional 399,859 shares in the last quarter. 81.30% of the stock is owned by institutional investors and hedge funds.

monday.com Company Profile

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, and internationally. It 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.