monday.com (NASDAQ:MNDY) Hits New 1-Year Low – Here’s What Happened

monday.com Ltd. (NASDAQ:MNDY)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $139.50 and last traded at $140.1950, with a volume of 506687 shares trading hands. The stock had previously closed at $146.35.

Analyst Ratings Changes

Several brokerages have commented on MNDY. Tigress Financial lifted their target price on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. JPMorgan Chase & Co. reduced their target price on monday.com from $285.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. DA Davidson dropped their price objective on shares of monday.com from $275.00 to $250.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Guggenheim began coverage on monday.com in a research note on Thursday, December 4th. They set a “buy” rating and a $250.00 target price on the stock. Finally, Bank of America decreased their price target on shares of monday.com from $205.00 to $195.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $257.39.

monday.com Price Performance

The company has a 50 day moving average price of $153.69 and a two-hundred day moving average price of $197.80. The stock has a market cap of $6.98 billion, a PE ratio of 111.73, a PEG ratio of 3.40 and a beta of 1.26.

monday.com (NASDAQ:MNDY) last announced its earnings results on Monday, November 10th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.89 by $0.27. The business had revenue of $316.86 million for the quarter, compared to analysts’ expectations of $312.26 million. monday.com had a return on equity of 5.99% and a net margin of 5.58%.The business’s revenue for the quarter was up 26.3% on a year-over-year basis. During the same period last year, the firm posted $0.85 earnings per share. As a group, equities analysts predict that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Hedge Funds Weigh In On monday.com

Institutional investors have recently bought and sold shares of the business. WCM Investment Management LLC increased its stake in monday.com by 2.8% during the third quarter. WCM Investment Management LLC now owns 4,184,745 shares of the company’s stock worth $843,519,000 after acquiring an additional 115,353 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in shares of monday.com by 9.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,833,000 shares of the company’s stock worth $576,442,000 after purchasing an additional 150,987 shares during the period. Capital World Investors increased its position in shares of monday.com by 231.2% during the 3rd quarter. Capital World Investors now owns 1,717,263 shares of the company’s stock valued at $332,617,000 after purchasing an additional 1,198,761 shares during the last quarter. Rubicon Global Capital Ltd raised its holdings in monday.com by 155.3% during the 2nd quarter. Rubicon Global Capital Ltd now owns 1,442,900 shares of the company’s stock valued at $453,763,000 after buying an additional 877,700 shares during the period. Finally, SG Americas Securities LLC raised its holdings in monday.com by 110.9% during the 4th quarter. SG Americas Securities LLC now owns 932,912 shares of the company’s stock valued at $137,660,000 after buying an additional 490,491 shares during the period. Institutional investors own 73.70% of the company’s stock.

monday.com Company Profile

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.