Shelton Wealth Management LLC purchased a new position in monday.com Ltd. (NASDAQ:MNDY - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,657 shares of the company's stock, valued at approximately $889,000.
A number of other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its stake in monday.com by 78.7% in the fourth quarter. FMR LLC now owns 2,701,952 shares of the company's stock worth $636,147,000 after acquiring an additional 1,189,858 shares during the last quarter. Rubicon Global Capital Ltd purchased a new position in monday.com in the first quarter worth approximately $137,434,000. CIBC Private Wealth Group LLC lifted its stake in monday.com by 264.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company's stock worth $126,407,000 after acquiring an additional 403,255 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in monday.com by 23.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 499,950 shares of the company's stock worth $117,708,000 after acquiring an additional 96,222 shares during the last quarter. Finally, Norges Bank purchased a new position in monday.com in the fourth quarter worth approximately $116,686,000. Hedge funds and other institutional investors own 73.70% of the company's stock.
monday.com Stock Performance
Shares of MNDY opened at $287.43 on Friday. The stock has a market capitalization of $14.59 billion, a P/E ratio of 293.30, a P/E/G ratio of 104.01 and a beta of 1.30. The company's fifty day moving average is $281.43 and its two-hundred day moving average is $267.29. monday.com Ltd. has a 1 year low of $188.01 and a 1 year high of $342.64.
monday.com (NASDAQ:MNDY - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.40. The company had revenue of $282.25 million for the quarter, compared to analysts' expectations of $275.93 million. monday.com had a net margin of 5.08% and a return on equity of 7.87%. monday.com's revenue was up 30.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.61 EPS. Sell-side analysts predict that monday.com Ltd. will post 0.46 EPS for the current year.
Wall Street Analysts Forecast Growth
A number of analysts have weighed in on MNDY shares. UBS Group cut their price objective on shares of monday.com from $350.00 to $310.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Piper Sandler raised their price objective on shares of monday.com from $305.00 to $325.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Wells Fargo & Company set a $365.00 price objective on shares of monday.com and gave the stock an "overweight" rating in a report on Friday, June 13th. Loop Capital cut their price objective on shares of monday.com from $385.00 to $375.00 and set a "buy" rating on the stock in a report on Tuesday, May 13th. Finally, Needham & Company LLC reissued a "buy" rating and set a $400.00 price objective on shares of monday.com in a report on Tuesday, May 13th. Four equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company's stock. According to data from MarketBeat.com, monday.com has a consensus rating of "Moderate Buy" and an average target price of $347.09.
Check Out Our Latest Stock Report on monday.com
monday.com Company Profile
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Free Report)
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.
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