Monday.com shares (MNDY, NASDAQ:)), a work OS software company that was founded in 1999, have fallen 27.9% over the last month. This despite monday.com reporting solid quarterly top-line growth. While its no-code technology is gaining popularity has helped boost its revenue, the company’s high valuation and worries about competition in the industry mean that its share price will not recover soon. Find out more. Based in Israel and cloud-based software platform monday.com Ltd. On June 10, 2021, the company that provides work operating systems went public for $155 per share. The stock gained 32.9% over six months but has fallen 5.2% in the past five trading days, closing at $292.09 on the last trading session.

Despite reporting a robust third-quarter financial result last month, MNDY’s shares have dipped 27.9% over the past month. While its ARR increased 231% year over year, MNDY’s net dollar retention rates for customers with greater than 10 users were higher than 130%.

However, MNDY’s sky-high valuation has rattled investors. Its top-line growth, which was driven by increasing adoption of Work OS, as well as the launch of My Work, will help to accelerate user growth, but there’s fierce competition from large software companies like Adobe Inc. Microsoft Corp . It could lead to further declines in its shares (NASDAQ:).

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