Harbour Investments Inc. Invests $412,000 in monday.com Ltd. (NASDAQ:MNDY)

Key Points

• Harbour Investments Inc. acquired 1,695 shares of monday.com Ltd. valued at approximately $412,000 during the first quarter, according to a recent 13F filing.
• Institutional investors and hedge funds collectively own 73.70% of monday.com's stock, highlighting significant interest in the company.
• monday.com reported a quarterly EPS of $1.10, surpassing analyst estimates by $0.40, with revenue increasing 30.2% year-over-year to $282.25 million.

Harbour Investments Inc. acquired a new stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,695 shares of the company's stock, valued at approximately $412,000.

A number of other institutional investors and hedge funds have also made changes to their positions in MNDY. Grove Bank & Trust acquired a new position in monday.com during the first quarter worth $30,000. First Horizon Advisors Inc. boosted its holdings in monday.com by 72.9% in the 1st quarter. First Horizon Advisors Inc. now owns 166 shares of the company's stock worth $40,000 after buying an additional 70 shares during the last quarter. Signaturefd LLC increased its stake in monday.com by 50.7% during the 1st quarter. Signaturefd LLC now owns 217 shares of the company's stock worth $53,000 after buying an additional 73 shares in the last quarter. Farther Finance Advisors LLC lifted its position in shares of monday.com by 32.7% in the first quarter. Farther Finance Advisors LLC now owns 211 shares of the company's stock valued at $55,000 after acquiring an additional 52 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of monday.com in the first quarter worth approximately $64,000. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MNDY shares. JPMorgan Chase & Co. lowered their price target 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. Wall Street Zen cut monday.com from a "buy" rating to a "hold" rating in a research note on Saturday, July 5th. UBS Group lowered their target price on monday.com from $350.00 to $310.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Loop Capital reduced their price target on monday.com from $385.00 to $375.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Finally, Needham & Company LLC reissued a "buy" rating and set a $400.00 price objective on shares of monday.com in a research report on Tuesday, May 13th. Three investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $348.09.

monday.com Stock Up 3.5%

Shares of NASDAQ:MNDY traded up $8.76 during midday trading on Wednesday, reaching $258.72. The company's stock had a trading volume of 1,135,352 shares, compared to its average volume of 783,063. The business has a 50 day moving average price of $292.34 and a 200 day moving average price of $277.10. monday.com Ltd. has a 1 year low of $202.01 and a 1 year high of $342.64. The firm has a market cap of $13.14 billion, a price-to-earnings ratio of 264.00, a price-to-earnings-growth ratio of 90.37 and a beta of 1.27.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share (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%. The business's quarterly revenue was up 30.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.61 EPS. Sell-side analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

monday.com 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.