monday.com (NASDAQ:MNDY) Shares Gap Down – Should You Sell?

monday.com Ltd. (NASDAQ:MNDY)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $262.18, but opened at $251.00. monday.com shares last traded at $260.97, with a volume of 27,610 shares trading hands.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Citigroup raised monday.com from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $302.00 to $298.00 in a research report on Thursday, January 16th. Wells Fargo & Company increased their target price on shares of monday.com from $340.00 to $380.00 and gave the stock an “overweight” rating in a report on Tuesday, February 11th. William Blair reiterated an “outperform” rating on shares of monday.com in a research note on Wednesday, December 18th. Cantor Fitzgerald lifted their target price on monday.com from $292.00 to $380.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Finally, Jefferies Financial Group dropped their target price on monday.com from $400.00 to $360.00 and set a “buy” rating on the stock in a report on Monday. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $352.64.

monday.com Stock Up 0.1 %

The stock has a fifty day moving average price of $273.31 and a two-hundred day moving average price of $270.37. The company has a market cap of $13.33 billion, a price-to-earnings ratio of 438.69, a P/E/G ratio of 16.53 and a beta of 1.27.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, February 10th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a net margin of 3.33% and a return on equity of 6.22%. Analysts predict that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On monday.com

A number of large investors have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC lifted its position in shares of monday.com by 0.3% during the 4th quarter. Clearbridge Investments LLC now owns 13,501 shares of the company’s stock valued at $3,179,000 after acquiring an additional 44 shares during the period. Prudential Financial Inc. grew its stake in monday.com by 1.3% during the fourth quarter. Prudential Financial Inc. now owns 4,122 shares of the company’s stock worth $970,000 after buying an additional 53 shares in the last quarter. Global Retirement Partners LLC increased its holdings in monday.com by 64.8% in the 4th quarter. Global Retirement Partners LLC now owns 150 shares of the company’s stock valued at $35,000 after buying an additional 59 shares during the period. Venturi Wealth Management LLC raised its position in shares of monday.com by 7.6% in the 4th quarter. Venturi Wealth Management LLC now owns 1,076 shares of the company’s stock valued at $253,000 after buying an additional 76 shares in the last quarter. Finally, Vestcor Inc lifted its holdings in shares of monday.com by 16.0% during the 4th quarter. Vestcor Inc now owns 602 shares of the company’s stock worth $142,000 after acquiring an additional 83 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.

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.