Eventide Asset Management LLC Has $34.60 Million Position in monday.com Ltd. $MNDY

Key Points

• Eventide Asset Management LLC reduced its holdings in monday.com Ltd. by 53.8%, now owning approximately 0.28% of the company, valued at $34.6 million after selling 165,578 shares.
• Despite Eventide's decrease, several institutional investors increased their stakes, with JPMorgan Chase & Co. boosting its position by 102.5% to become a leading shareholder.
• Research analysts remain optimistic about monday.com's growth, with an average target price of $303.59 and a consensus rating of "Moderate Buy", even as some firms lowered their price targets.

Eventide Asset Management LLC lessened its stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 53.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,250 shares of the company's stock after selling 165,578 shares during the period. Eventide Asset Management LLC owned 0.28% of monday.com worth $34,595,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. ASR Vermogensbeheer N.V. acquired a new stake in shares of monday.com during the first quarter worth about $25,000. Summit Securities Group LLC acquired a new stake in shares of monday.com during the first quarter worth about $25,000. Grove Bank & Trust purchased a new position in monday.com during the first quarter worth about $30,000. First Horizon Advisors Inc. raised its holdings in monday.com by 72.9% during the first quarter. First Horizon Advisors Inc. now owns 166 shares of the company's stock worth $40,000 after purchasing an additional 70 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in monday.com by 32.7% during the first quarter. Farther Finance Advisors LLC now owns 211 shares of the company's stock worth $55,000 after purchasing an additional 52 shares in the last quarter. Institutional investors and hedge funds own 73.70% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Citigroup dropped their target price on shares of monday.com from $381.00 to $326.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. KeyCorp reiterated an "overweight" rating and issued a $330.00 price target on shares of monday.com in a report on Monday, August 11th. Canaccord Genuity Group dropped their target price on shares of monday.com from $350.00 to $255.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Bank of America reiterated a "neutral" rating and set a $205.00 price target (down from $240.00) on shares of monday.com in a research report on Thursday, August 21st. Finally, Barclays cut their target price on shares of monday.com from $345.00 to $258.00 and set an "overweight" rating for the company in a research note on Tuesday, August 12th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $303.59.

monday.com Stock Up 0.9%

Shares of MNDY traded up $1.66 during mid-day trading on Tuesday, hitting $192.34. 535,233 shares of the company's stock were exchanged, compared to its average volume of 933,875. The firm has a fifty day moving average of $240.14 and a two-hundred day moving average of $262.23. monday.com Ltd. has a twelve month low of $166.22 and a twelve month high of $342.64. The stock has a market cap of $9.77 billion, a price-to-earnings ratio of 259.92, a P/E/G ratio of 11.16 and a beta of 1.25.

monday.com (NASDAQ:MNDY - Get Free Report) last announced 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 net margin of 3.63% and a return on equity of 6.32%. The company had revenue of $299.01 million for the quarter, compared to analyst estimates of $293.60 million. During the same quarter in the prior year, the business posted $0.94 EPS. monday.com's quarterly revenue 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 analysts predict that monday.com Ltd. will post 0.46 earnings per share for the current 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.