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Short seller Hedgeye sees 30% downside in monday.com

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The US hedge fund researcher is not in line with analysts covering the Israeli business operating system company, who see an upside in monday.com.


Israeli business operating systems company monday.com (Nasdaq: MNDY) The stock price was on a roll last weekend on Wall Street, falling 3.3% on Thursday and rising 3.3% on Friday to $225, giving it a market cap of $11 billion. The volatility came on the heels of a report calling for selling on monday.com by US hedge fund researcher Hedgeye Risk Management. Hedgeye expects a 30% decline in monday.com over the next nine to 12 months.







“Monday.com has seen significant growth in its core offerings, achieving a CAGR of 27% over four years and serving more than 225,000 customers as of 2023,” Hedgeye said. “However, the company’s attempts to expand into new areas, such as Customer and Developer Relationship Management – Focused products have had limited success, with low penetration rates and integration challenges.

monday.com was founded by co-CEOs Eran Zinman and Roy Mann. According to the Wall Street Journal, most analysts covering the company’s stock have a positive recommendation and only one analyst has an “underperform” recommendation. The average price target of analysts covering the stock is $261, 16% above Monday.com’s price. Current stock price on Nasdaq.

Published by Globes, Israel Business News – en.globes.co.il – on June 23, 2024.

© Copyright Globes Publisher Itonut (1983) Ltd., 2024.



monday.com co-CEOs Eran Zinman and Roy Mann (Credit: Nathaniel Tobias)

monday.com co-CEOs Eran Zinman and Roy Mann (Credit: Nathaniel Tobias)

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