Hsbc Holdings PLC Increases Stock Holdings in monday.com Ltd. $MNDY

Key Points

• Hsbc Holdings PLC increased its stake in monday.com by 85.2% in the first quarter, ending with 40,319 shares worth about $2.81 million.
• Institutional interest in the stock remains high, with hedge funds and other institutional investors owning 73.70% of monday.com shares. Several other funds also boosted or initiated positions during the quarter.
• monday.com shares were trading up 7.9% at $77.43, while analysts currently rate the stock a Moderate Buy with a consensus target price of $126.04.

Hsbc Holdings PLC lifted its stake in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 85.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 40,319 shares of the company's stock after buying an additional 18,545 shares during the quarter. Hsbc Holdings PLC owned about 0.08% of monday.com worth $2,810,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Taylor Frigon Capital Management LLC boosted its stake in monday.com by 101.6% in the first quarter. Taylor Frigon Capital Management LLC now owns 29,556 shares of the company's stock valued at $2,043,000 after acquiring an additional 14,894 shares in the last quarter. Counterpoint Mutual Funds LLC grew its stake in monday.com by 2,038.1% during the 1st quarter. Counterpoint Mutual Funds LLC now owns 73,507 shares of the company's stock worth $5,080,000 after buying an additional 70,069 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in monday.com by 71.9% during the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 19,121 shares of the company's stock worth $1,321,000 after buying an additional 8,000 shares during the last quarter. USS Investment Management Ltd increased its position in monday.com by 5.8% during the first quarter. USS Investment Management Ltd now owns 9,509 shares of the company's stock worth $657,000 after buying an additional 524 shares during the period. Finally, IFM Investors Pty Ltd acquired a new stake in shares of monday.com in the first quarter valued at approximately $522,000. 73.70% of the stock is owned by hedge funds and other institutional investors.

monday.com Trading Up 7.9%

Shares of MNDY opened at $77.43 on Friday. monday.com Ltd. has a twelve month low of $57.50 and a twelve month high of $295.00. The stock's 50 day moving average is $78.63 and its two-hundred day moving average is $83.58. The firm has a market capitalization of $3.96 billion, a PE ratio of 33.67, a P/E/G ratio of 3.88 and a beta of 1.26.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its quarterly earnings data on Friday, March 13th. The company reported $1.15 earnings per share for the quarter. monday.com had a return on equity of 5.10% and a net margin of 9.17%.The firm had revenue of $351.26 million for the quarter. On average, sell-side analysts predict that monday.com Ltd. will post 1.59 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on MNDY shares. Canaccord Genuity Group cut their target price on shares of monday.com from $140.00 to $115.00 and set a "buy" rating on the stock in a report on Tuesday, May 12th. Wall Street Zen upgraded shares of monday.com from a "hold" rating to a "buy" rating in a research note on Sunday, July 12th. Barclays upped their target price on shares of monday.com from $95.00 to $100.00 and gave the company an "overweight" rating in a report on Tuesday, May 12th. Piper Sandler upped their price objective on monday.com from $85.00 to $90.00 and gave the company a "neutral" rating in a research note on Monday, May 11th. Finally, BTIG Research decreased their price objective on monday.com from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Tuesday, July 14th. Seventeen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, monday.com currently has an average rating of "Moderate Buy" and a consensus target price of $126.04.

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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