monday.com (NASDAQ:MNDY) Shares Gap Down to $217.70

Shares of monday.com Ltd. (NASDAQ:MNDY) gapped down before the market opened on Friday . The stock had previously closed at $217.70, but opened at $211.77. monday.com shares last traded at $212.40, with a volume of 78,394 shares traded.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MNDY shares. Canaccord Genuity Group boosted their target price on shares of monday.com from $220.00 to $250.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. KeyCorp boosted their target price on shares of monday.com from $275.00 to $280.00 and gave the stock an “overweight” rating in a research note on Thursday, May 16th. Needham & Company LLC reiterated a “buy” rating and set a $250.00 target price on shares of monday.com in a research note on Monday, June 17th. Bank of America initiated coverage on shares of monday.com in a research note on Monday, February 26th. They set a “buy” rating and a $280.00 target price for the company. Finally, Piper Sandler restated an “overweight” rating and issued a $270.00 price objective (up previously from $250.00) on shares of monday.com in a research note on Wednesday, May 15th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $252.50.

monday.com Price Performance

The firm has a market cap of $10.86 billion, a price-to-earnings ratio of 592.04 and a beta of 1.30. The firm’s 50 day moving average price is $209.95 and its two-hundred day moving average price is $207.72.

monday.com (NASDAQ:MNDY) last announced its earnings results on Wednesday, May 15th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of ($0.11) by $0.25. monday.com had a net margin of 2.53% and a return on equity of 2.42%. The business had revenue of $216.91 million during the quarter, compared to the consensus estimate of $210.33 million. On average, analysts anticipate that monday.com Ltd. will post 0.12 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in MNDY. Desjardins Global Asset Management Inc. raised its holdings in monday.com by 222.0% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the company’s stock worth $25,000 after purchasing an additional 91 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in monday.com by 2.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 34,044 shares of the company’s stock valued at $65,000 after buying an additional 691 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in monday.com by 373.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 393 shares of the company’s stock valued at $74,000 after buying an additional 310 shares in the last quarter. Industrial Alliance Investment Management Inc. increased its holdings in monday.com by 741.7% in the first quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock valued at $91,000 after buying an additional 356 shares in the last quarter. Finally, RiverPark Advisors LLC purchased a new position in monday.com in the first quarter valued at about $130,000. 73.70% of the stock is owned by hedge funds and other institutional investors.

monday.com Company Profile

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.