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Is Monday.com Stock a Buy?

TheMotleyFool

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Is Monday.com Stock a Buy?: https://g.foolcdn.com/editorial/images/701018/cloud-laptop-tablet-phone.jpg

Monday.com (NASDAQ: MNDY) has taken investors on a wild ride since its IPO last June. The Israeli cloud-based software developer went public at $155 per share, closed at $178.87 on the first day, then skyrocketed to an all-time high of $444.70 last November.

Monday.com initially generated a lot of buzz because it was growing like a weed and backed by Salesforce (NYSE: CRM) and Zoom Video Communications (NASDAQ: ZM). But as interest rates rose, the stock plummeted below its IPO price and now trades in the $130s. Does that steep pullback represent a good buying opportunity for long-term investors?

Image source: Getty Images.

Source Fool.com

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