1832 Asset Management L.P. Acquires New Shares in monday.com Ltd. $MNDY

Key Points

• 1832 Asset Management L.P. acquired 476,000 shares of monday.com Ltd. in Q1, amounting to around $115.7 million, representing 0.94% of the company.
• Recent analyst reports have led to a range of price adjustments, with targets set as high as $365 and as low as $240 for the stock.
• monday.com Ltd. reported earnings of $1.09 per share for the last quarter, exceeding estimates, with a revenue increase of 26.6% compared to the previous year.

1832 Asset Management L.P. purchased a new stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 476,000 shares of the company's stock, valued at approximately $115,744,000. 1832 Asset Management L.P. owned approximately 0.94% of monday.com at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of MNDY. ASR Vermogensbeheer N.V. acquired a new position in monday.com in the first quarter worth $25,000. Summit Securities Group LLC acquired a new position in monday.com in the first quarter worth $25,000. Grove Bank & Trust acquired a new position in monday.com in the first quarter worth $30,000. First Horizon Advisors Inc. boosted its stake in monday.com by 72.9% in the first quarter. First Horizon Advisors Inc. now owns 166 shares of the company's stock worth $40,000 after purchasing an additional 70 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in monday.com by 32.7% in the first quarter. Farther Finance Advisors LLC now owns 211 shares of the company's stock worth $55,000 after purchasing an additional 52 shares in the last quarter. Institutional investors and hedge funds own 73.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MNDY shares. JPMorgan Chase & Co. reduced their price objective on monday.com from $400.00 to $350.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Wells Fargo & Company set a $365.00 price objective on monday.com and gave the stock an "overweight" rating in a research note on Friday, June 13th. Baird R W raised monday.com from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 6th. KeyCorp restated an "overweight" rating and set a $330.00 target price on shares of monday.com in a research report on Monday, August 11th. Finally, Scotiabank boosted their target price on monday.com from $315.00 to $330.00 and gave the stock a "sector outperform" rating in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $303.59.

monday.com Price Performance

Shares of MNDY stock traded up $6.43 on Friday, reaching $177.89. 1,056,648 shares of the stock were exchanged, compared to its average volume of 1,857,320. The stock has a market cap of $9.03 billion, a PE ratio of 240.40, a P/E/G ratio of 10.69 and a beta of 1.27. monday.com Ltd. has a one year low of $166.22 and a one year high of $342.64. The stock has a 50 day moving average price of $264.33 and a 200 day moving average price of $271.93.

monday.com (NASDAQ:MNDY - Get Free Report) last released its quarterly earnings data on Monday, August 11th. The company reported $1.09 EPS for the quarter, beating analysts' consensus estimates of $0.84 by $0.25. The business had revenue of $299.01 million during the quarter, compared to the consensus estimate of $293.60 million. monday.com had a return on equity of 6.32% and a net margin of 3.63%.The firm's revenue was up 26.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.94 earnings per share. monday.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, research analysts expect that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

monday.com Company Profile

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.