Monday.com (NASDAQ:MNDY) Stocks fall after analysts downgrade
Ahead of Friday’s market open, Citigroup lowered its price target for Monday.com Ltd. (NASDAQ: MNDY) from $156.00 to $135.00. This caused the stock price of Monday.com Ltd to fall. At the start of the trading day, the stock price was $94.20 and by the end of the day it had risen to $97.14. Monday.com’s stock price was $94.06 at the end of the trading session, and a total of 553 shares were traded throughout the session.
Recently, reports on MNDY have also been published by various other research companies around the world. In a research report published on Tuesday, August 9, DA Davidson announced that it was increasing its price target on Monday.com from $145.00 to $175.00. This change came about as a result of recent market activity. In a research report released Thursday, Piper Sandler lowered her price target on Monday.com from $180.00 to $130.00 and lowered her “overweight” rating on the stock. In a research report published on Tuesday, August 9, Cowen raised its price target for Monday.com from $150.00 to $180.00. They also gave the company an “outperforming” rating in the report. On Monday, September 12, the Monday.com website published an article titled “Loop Capital”. They recommended buying the stock and setting a price target for the stock of $175.00. The recommendation was to buy the stock. Thursday, October 13 marked the release of the first company research report to be made available on Monday.com by KeyCorp. This event served as the starting point for KeyCorp’s coverage of the company. The stock was rated “Overweight” and the price target was set at $135.00 per share. One of the stock research analysts suggests keeping the stock in his portfolio, but the other fourteen suggest buying or investing in the stock. According to information provided by Bloomberg, the company’s price is expected to reach $204.69. The “Moderate Buy” recommendation is what the majority of analysts gave the company.
Hedge funds have recently made some changes to the way they hold stocks. During the third quarter of the fiscal year, the acquisition of a new position in Monday.com resulted in a cost of $26,000 for SJS Investment Consulting Inc. During the first three months of 2018, HHM Wealth Advisors LLC has opened a new participation in Monday. com by making an initial investment of $38,000. UMB Bank, National Association, spent about $38,000 on an investment in a new holding company on Monday.com during the second quarter of the fiscal year. Additionally, approximately $42,000 was spent by FourThought Financial LLC in the first three months of this year to buy a new investment in Monday.com. Last but not least, in the first three months of this year, Advisors Asset Management Inc. invested a total of $52,000 in a new investment in Monday.com. Now, hedge funds and other institutional investors own 64.64% of the company’s shares.
The stock price has fluctuated between $118.45 and $117.76 over the past 50 and 200 trading days. The stock now has a beta of 1.50, a market value of $4.20 billion and a price/earnings ratio of -25.10.
Quarterly results from Monday.com, traded on the NASDAQ under the symbol MNDY, were released on August 8. ). Against the consensus projection of $118.22 million in revenue, the company said it brought in $123.70 million during the reporting period. Monday.com had a negative return on equity of 25.09% and a negative net margin of 42.31%. The revenue increase was 75.2% higher than the prior year quarter. During the same period the previous year, the company had earned earnings per share equal to ($1.67). According to forecasts provided by equity research professionals, Monday.com Ltd. will post a loss of 4.94 cents per share in the current fiscal year.
Monday.com Ltd. and its subsidiaries produce software in a variety of countries around the world, including the United States of America, Europe, the Middle East, Africa and other regions. It provides Work OS, a visual work operating system built in the cloud and consists of modular building blocks that can be used to create software programs and work management systems. Additionally, these building blocks can be used to create software applications and work management systems.