Bank of New York Mellon Corp Sells 13,791 Shares of monday.com Ltd. (NASDAQ:MNDY)

Bank of New York Mellon Corp lowered its holdings in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 5.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 241,664 shares of the company's stock after selling 13,791 shares during the quarter. Bank of New York Mellon Corp owned about 0.48% of monday.com worth $58,763,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Charles Schwab Investment Management Inc. raised its holdings in monday.com by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 24,936 shares of the company's stock worth $5,871,000 after acquiring an additional 897 shares during the period. Raymond James Financial Inc. bought a new position in shares of monday.com during the 4th quarter worth about $27,010,000. PNC Financial Services Group Inc. increased its holdings in shares of monday.com by 2.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,818 shares of the company's stock worth $1,841,000 after purchasing an additional 218 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of monday.com by 9.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,534 shares of the company's stock worth $3,657,000 after purchasing an additional 1,296 shares during the period. Finally, Daiwa Securities Group Inc. increased its holdings in shares of monday.com by 72.7% during the 4th quarter. Daiwa Securities Group Inc. now owns 5,201 shares of the company's stock worth $1,224,000 after purchasing an additional 2,190 shares during the period. Institutional investors own 73.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MNDY shares. Barclays decreased their target price on shares of monday.com from $360.00 to $345.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. UBS Group reduced their price target on shares of monday.com from $350.00 to $310.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th. DA Davidson reduced their target price on shares of monday.com from $350.00 to $290.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. reduced their target price on shares of monday.com from $400.00 to $350.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Finally, Wall Street Zen lowered shares of monday.com from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Five equities research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, monday.com presently has a consensus rating of "Moderate Buy" and a consensus target price of $349.23.

monday.com Stock Down 5.5%

Shares of NASDAQ:MNDY opened at $284.61 on Friday. monday.com Ltd. has a 12 month low of $188.01 and a 12 month high of $342.64. The company's fifty day simple moving average is $295.17 and its 200 day simple moving average is $271.43. The firm has a market cap of $14.45 billion, a price-to-earnings ratio of 290.42, a PEG ratio of 102.98 and a beta of 1.30.

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, topping analysts' consensus estimates of $0.70 by $0.40. The business had revenue of $282.25 million for the quarter, compared to analyst estimates of $275.93 million. monday.com had a net margin of 5.08% and a return on equity of 7.87%. The firm's quarterly revenue was up 30.2% on a year-over-year basis. During the same period last year, the business posted $0.61 earnings per share. Research analysts expect that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

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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