Shelton Wealth Management LLC Invests $889,000 in monday.com Ltd. (NASDAQ:MNDY)

Shelton Wealth Management LLC bought a new stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm bought 3,657 shares of the company's stock, valued at approximately $889,000.

A number of other hedge funds have also recently modified their holdings of MNDY. FMR LLC grew its position in shares of monday.com by 78.7% in the 4th quarter. FMR LLC now owns 2,701,952 shares of the company's stock valued at $636,147,000 after buying an additional 1,189,858 shares during the last quarter. Rubicon Global Capital Ltd purchased a new position in monday.com during the 1st quarter worth $137,434,000. Norges Bank purchased a new position in monday.com during the 4th quarter worth $116,686,000. T. Rowe Price Investment Management Inc. purchased a new position in monday.com during the 4th quarter worth $109,605,000. Finally, CIBC Private Wealth Group LLC grew its position in monday.com by 264.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company's stock worth $126,407,000 after purchasing an additional 403,255 shares during the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

monday.com Stock Up 2.9%

Shares of NASDAQ MNDY traded up $8.23 during midday trading on Monday, hitting $288.69. The company had a trading volume of 380,147 shares, compared to its average volume of 740,632. The firm has a market capitalization of $14.66 billion, a price-to-earnings ratio of 294.58, a price-to-earnings-growth ratio of 101.48 and a beta of 1.30. The business has a 50-day simple moving average of $283.08 and a two-hundred day simple moving average of $266.93. monday.com Ltd. has a twelve month low of $188.01 and a twelve month high of $342.64.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.70 by $0.40. The company had revenue of $282.25 million during 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%. The firm's quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 earnings per share. On average, equities analysts forecast that monday.com Ltd. will post 0.46 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of monday.com from $400.00 to $350.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Canaccord Genuity Group lowered their price objective on shares of monday.com from $375.00 to $350.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. UBS Group lowered their price objective on shares of monday.com from $350.00 to $310.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. Needham & Company LLC reissued a "buy" rating and set a $400.00 price objective on shares of monday.com in a research report on Tuesday, May 13th. Finally, Morgan Stanley started coverage on shares of monday.com in a research note on Tuesday, June 17th. They issued an "equal weight" rating and a $330.00 target price for the company. Four analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $347.09.

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.