ARK Investment Management LLC Sells 1,349 Shares of monday.com Ltd. $MNDY

Key Points

• ARK Investment Management LLC reduced its stake in monday.com Ltd. by 16.8%, selling 1,349 shares during the 2nd quarter, leaving it with 6,681 shares worth approximately $2.1 million.
• monday.com reported better-than-expected earnings for the quarter, with an EPS of $1.09, exceeding the consensus estimate of $0.84, and a revenue increase of 26.6% year-over-year.
• The stock has a market capitalization of $9.68 billion and a PE ratio of 257.68, with a consensus rating of "Moderate Buy" and a target price of about $290.81 from analysts.

ARK Investment Management LLC lessened its stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 16.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,681 shares of the company's stock after selling 1,349 shares during the quarter. ARK Investment Management LLC's holdings in monday.com were worth $2,101,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. ASR Vermogensbeheer N.V. purchased a new stake in shares of monday.com during the 1st quarter valued at about $25,000. Summit Securities Group LLC purchased a new stake in shares of monday.com during the 1st quarter worth approximately $25,000. NewEdge Advisors LLC increased its stake in monday.com by 2,120.0% in the first quarter. NewEdge Advisors LLC now owns 111 shares of the company's stock worth $27,000 after purchasing an additional 106 shares during the period. First Horizon Advisors Inc. grew its position in shares of monday.com by 72.9% during the 1st quarter. First Horizon Advisors Inc. now owns 166 shares of the company's stock worth $40,000 after buying an additional 70 shares in the last quarter. Finally, Hazlett Burt & Watson Inc. grew its position in shares of monday.com by 60.0% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 160 shares of the company's stock worth $50,000 after buying an additional 60 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company's stock.

monday.com Price Performance

monday.com stock opened at $190.68 on Thursday. monday.com Ltd. has a 12 month low of $166.22 and a 12 month high of $342.64. The stock has a market capitalization of $9.68 billion, a PE ratio of 257.68, a price-to-earnings-growth ratio of 9.09 and a beta of 1.24. The business has a 50 day simple moving average of $188.92 and a 200-day simple moving average of $246.59.

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

Analyst Upgrades and Downgrades

MNDY has been the topic of a number of recent research reports. Bank of America reissued a "neutral" rating and set a $205.00 price target (down previously from $240.00) on shares of monday.com in a research report on Thursday, August 21st. The Goldman Sachs Group dropped their price objective on monday.com from $350.00 to $270.00 and set a "buy" rating on the stock in a research report on Wednesday, August 13th. KeyCorp reaffirmed an "overweight" rating and set a $330.00 price objective on shares of monday.com in a research report on Monday, August 11th. TD Cowen lowered their price target on monday.com from $360.00 to $290.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Finally, Citigroup raised their price objective on monday.com from $326.00 to $332.00 and gave the stock a "buy" rating in a research note on Tuesday, September 30th. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $290.81.

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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