Bank of America Corp DE Has $13.45 Million Position in monday.com Ltd. $MNDY

Key Points

• Bank of America increased its monday.com stake by 33.6% in the first quarter, owning 194,635 shares worth approximately $13.45 million. Institutional investors collectively hold 73.70% of the company.
• monday.com reported quarterly revenue of $364.62 million, up 21.9% year over year, and earnings per share of $1.48—beating analyst expectations of $1.11.
• Analyst sentiment remains positive, with a consensus rating of “Moderate Buy” and an average price target of $117.91, versus the stock’s reported opening price of $90.73.

Bank of America Corp DE grew its position in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 33.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 194,635 shares of the company's stock after purchasing an additional 49,002 shares during the period. Bank of America Corp DE owned about 0.38% of monday.com worth $13,451,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MNDY. Arkadios Wealth Advisors bought a new position in shares of monday.com during the first quarter worth about $1,534,000. EverSource Wealth Advisors LLC grew its position in monday.com by 498.6% in the first quarter. EverSource Wealth Advisors LLC now owns 425 shares of the company's stock valued at $29,000 after purchasing an additional 354 shares in the last quarter. Royal Bank of Canada increased its stake in monday.com by 88.7% in the 1st quarter. Royal Bank of Canada now owns 30,422 shares of the company's stock valued at $2,102,000 after buying an additional 14,300 shares during the last quarter. Empowered Funds LLC increased its stake in monday.com by 4,194.6% in the 1st quarter. Empowered Funds LLC now owns 14,430 shares of the company's stock valued at $997,000 after buying an additional 14,094 shares during the last quarter. Finally, Quantinno Capital Management LP lifted its position in monday.com by 155.1% during the 1st quarter. Quantinno Capital Management LP now owns 31,676 shares of the company's stock worth $2,189,000 after buying an additional 19,258 shares in the last quarter. 73.70% of the stock is owned by institutional investors.

monday.com Stock Performance

MNDY stock opened at $90.73 on Friday. The company has a fifty day moving average price of $81.47 and a 200-day moving average price of $77.41. The company has a market capitalization of $4.64 billion, a P/E ratio of 38.61, a PEG ratio of 2.14 and a beta of 1.24. monday.com Ltd. has a 52-week low of $57.50 and a 52-week high of $220.80.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.37. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The company had revenue of $364.62 million for the quarter, compared to analysts' expectations of $355.55 million. During the same quarter in the previous year, the firm posted $1.09 earnings per share. monday.com's revenue for the quarter was up 21.9% on a year-over-year basis. As a group, sell-side analysts forecast that monday.com Ltd. will post 2.25 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MNDY has been the topic of a number of recent analyst reports. BTIG Research reissued a "buy" rating and set a $105.00 price target on shares of monday.com in a research report on Monday, August 10th. Wall Street Zen upgraded monday.com from a "hold" rating to a "buy" rating in a research note on Sunday, July 12th. Wells Fargo & Company decreased their target price on monday.com from $130.00 to $120.00 and set an "overweight" rating on the stock in a report on Tuesday, August 11th. Tigress Financial dropped their price target on monday.com to $165.00 and set a "buy" rating on the stock in a research note on Friday, May 22nd. Finally, Barclays raised their price target on monday.com from $95.00 to $100.00 and gave the company an "overweight" rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, monday.com has an average rating of "Moderate Buy" and an average price target of $117.91.

About monday.com

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com's visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company's product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.

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