Baillie Gifford & Co. Cuts Holdings in monday.com Ltd. (NASDAQ:MNDY)

Key Points

• Baillie Gifford & Co. reduced its stake in monday.com Ltd. by 3.3%, now holding 301,506 shares valued at approximately $73.3 million.
• Analysts have adjusted their price targets for monday.com, with Canaccord Genuity lowering it from $375 to $350, while Needham & Company maintains a price objective of $400.
• monday.com reported a 30.2% increase in revenue year-over-year for the quarter, with EPS at $1.10, surpassing analyst expectations of $0.70.

Baillie Gifford & Co. lowered its stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 3.3% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 301,506 shares of the company's stock after selling 10,184 shares during the period. Baillie Gifford & Co. owned approximately 0.59% of monday.com worth $73,314,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of MNDY. WCM Investment Management LLC grew its position in shares of monday.com by 0.4% during the 1st quarter. WCM Investment Management LLC now owns 4,078,985 shares of the company's stock worth $1,007,550,000 after purchasing an additional 17,371 shares in the last quarter. FMR LLC lifted its holdings in shares of 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 period. Rubicon Global Capital Ltd bought a new stake in shares of monday.com during the 1st quarter worth approximately $137,434,000. CIBC Private Wealth Group LLC lifted its holdings in shares of 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 period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of 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 period. Institutional investors and hedge funds own 73.70% of the company's stock.

monday.com Stock Down 0.7%

NASDAQ:MNDY traded down $2.04 during mid-day trading on Wednesday, hitting $278.42. 117,537 shares of the stock traded hands, compared to its average volume of 773,262. The business's 50-day moving average price is $295.70 and its 200 day moving average price is $276.13. The company has a market cap of $14.14 billion, a PE ratio of 284.10, a price-to-earnings-growth ratio of 102.79 and a beta of 1.30. monday.com Ltd. has a 12-month low of $188.01 and a 12-month high of $342.64.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating the consensus estimate 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%. monday.com's revenue for the quarter was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.61 earnings per share. Analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently commented on MNDY. Scotiabank increased their price objective on shares of monday.com from $315.00 to $330.00 and gave the company a "sector outperform" rating in a research note on Friday, May 2nd. Wall Street Zen cut shares of monday.com from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Needham & Company LLC reissued a "buy" rating and set a $400.00 target price on shares of monday.com in a research note on Tuesday, May 13th. JPMorgan Chase & Co. lowered their target price on shares of monday.com from $400.00 to $350.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Finally, Loop Capital reduced their price objective on shares of monday.com from $385.00 to $375.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $349.23.

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.