Allspring Global Investments Holdings LLC Acquires 52,202 Shares of monday.com Ltd. (NASDAQ:MNDY)

Allspring Global Investments Holdings LLC grew its position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 15.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 380,188 shares of the company's stock after acquiring an additional 52,202 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.75% of monday.com worth $99,678,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. FMR LLC boosted its position in monday.com by 78.7% during the 4th 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 acquired a new position in monday.com during the 1st quarter worth approximately $137,434,000. CIBC Private Wealth Group LLC boosted 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 acquiring an additional 403,255 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in monday.com by 23.8% during the 4th 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 acquired a new position in monday.com during the 4th quarter worth approximately $116,686,000. Institutional investors and hedge funds own 73.70% of the company's stock.

monday.com Price Performance

Shares of monday.com stock opened at $307.96 on Friday. The business has a fifty day simple moving average of $287.44 and a two-hundred day simple moving average of $267.63. monday.com Ltd. has a 1 year low of $188.01 and a 1 year high of $342.64. The company has a market capitalization of $15.64 billion, a price-to-earnings ratio of 314.24, a P/E/G ratio of 111.43 and a beta of 1.30.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $282.25 million during the quarter, compared to the consensus estimate of $275.93 million. monday.com had a return on equity of 7.87% and a net margin of 5.08%. The company's quarterly revenue was up 30.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.61 EPS. As a group, equities analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price target on monday.com from $400.00 to $350.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. DA Davidson reduced their price target on monday.com from $350.00 to $290.00 and set a "buy" rating for the company in a research report on Monday, April 14th. UBS Group cut their price objective on monday.com from $350.00 to $310.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Piper Sandler reissued an "overweight" rating and issued a $325.00 price objective on shares of monday.com in a report on Friday. Finally, Needham & Company LLC reissued a "buy" rating and issued a $400.00 price objective on shares of monday.com in a report on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $347.09.

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.

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