Bank of America Corp DE Increases Position in monday.com Ltd. (NASDAQ:MNDY)

Bank of America Corp DE raised its position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 21.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,512 shares of the company's stock after buying an additional 20,438 shares during the quarter. Bank of America Corp DE owned about 0.24% of monday.com worth $27,196,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in MNDY. Stonebridge Financial Group LLC bought a new stake in shares of monday.com in the 4th quarter valued at approximately $25,000. Arcadia Investment Management Corp MI bought a new stake in shares of monday.com in the 4th quarter valued at approximately $28,000. R Squared Ltd bought a new stake in shares of monday.com in the 4th quarter valued at approximately $33,000. Signaturefd LLC lifted its stake in shares of monday.com by 157.1% in the 4th quarter. Signaturefd LLC now owns 144 shares of the company's stock valued at $34,000 after purchasing an additional 88 shares during the last quarter. Finally, Global Retirement Partners LLC lifted its stake in shares of monday.com by 64.8% in the 4th quarter. Global Retirement Partners LLC now owns 150 shares of the company's stock valued at $35,000 after purchasing an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company's stock.

monday.com Stock Performance

NASDAQ MNDY traded down $1.09 on Friday, reaching $288.60. 283,649 shares of the stock traded hands, compared to its average volume of 761,407. The company has a fifty day moving average price of $263.24 and a 200-day moving average price of $265.23. The company has a market cap of $14.65 billion, a price-to-earnings ratio of 481.00, a PEG ratio of 16.53 and a beta of 1.32. 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 earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.70 by $0.40. The business had revenue of $282.25 million during the quarter, compared to analyst estimates of $275.93 million. monday.com had a return on equity of 6.22% and a net margin of 3.33%. monday.com's revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 EPS. As a group, research analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MNDY shares. Wall Street Zen raised monday.com from a "hold" rating to a "buy" rating in a research note on Thursday. Wells Fargo & Company raised their price objective on monday.com from $310.00 to $335.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. JPMorgan Chase & Co. lowered their price objective on monday.com from $400.00 to $350.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Barclays lowered their price objective on monday.com from $360.00 to $345.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Finally, DA Davidson lowered their price objective on monday.com from $350.00 to $290.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $346.50.

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.