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

monday.com Ltd. (NASDAQ:MNDY)’s share price gapped down prior to trading 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.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Piper Sandler reaffirmed an “overweight” rating and issued a $270.00 price objective (up previously from $250.00) on shares of monday.com in a report on Wednesday, May 15th. Citigroup lowered monday.com from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $277.00 to $250.00 in a report on Wednesday, April 10th. DA Davidson lifted their price objective on monday.com from $190.00 to $230.00 and gave the stock a “neutral” rating in a report on Thursday, May 16th. JPMorgan Chase & Co. lifted their price objective on monday.com from $230.00 to $270.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Finally, Oppenheimer lifted their price objective on monday.com from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, May 16th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $252.50.

monday.com Price Performance

The company has a 50-day moving average price of $209.95 and a 200 day moving average price of $207.72. The firm has a market capitalization of $10.86 billion, a PE ratio of 592.04 and a beta of 1.30.

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

Institutional Investors Weigh In On monday.com

A number of hedge funds have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale lifted its position in shares of monday.com by 1,175.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 17,480 shares of the company’s stock worth $3,927,000 after buying an additional 16,109 shares in the last quarter. Cetera Advisors LLC purchased a new stake in shares of monday.com in the first quarter worth about $264,000. Washington Harbour Partners LP bought a new stake in monday.com during the first quarter worth approximately $1,400,000. iA Global Asset Management Inc. increased its stake in monday.com by 803.3% during the first quarter. iA Global Asset Management Inc. now owns 10,451 shares of the company’s stock worth $2,361,000 after acquiring an additional 9,294 shares during the last quarter. Finally, Tidal Investments LLC increased its stake in monday.com by 1,626.7% during the first quarter. Tidal Investments LLC now owns 20,530 shares of the company’s stock worth $4,637,000 after acquiring an additional 19,341 shares during the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

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.