Kirtland Hills Capital Management LLC Takes Position in monday.com Ltd. (NASDAQ:MNDY)

Key Points

• Kirtland Hills Capital Management LLC has acquired a new position in monday.com Ltd. (NASDAQ:MNDY), purchasing 974 shares valued at approximately $240,000 in the 1st quarter.
• Analysts have mixed opinions on the stock, with recent ratings showing a decline in price targets from various firms, while maintaining an overall "Moderate Buy" consensus and an average target price of $349.23.
• monday.com reported strong earnings in May, beating analyst estimates with an earnings per share of $1.10 and a revenue of $282.25 million, up 30.2% year-over-year.

Kirtland Hills Capital Management LLC bought a new position in monday.com Ltd. (NASDAQ:MNDY - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 974 shares of the company's stock, valued at approximately $240,000.

Other institutional investors have also recently bought and sold shares of the company. FMR LLC increased its stake in monday.com by 78.7% in the fourth quarter. FMR LLC now owns 2,701,952 shares of the company's stock valued at $636,147,000 after acquiring an additional 1,189,858 shares during the period. Rubicon Global Capital Ltd bought a new stake in monday.com in the first quarter valued at about $137,434,000. Norges Bank bought a new stake in monday.com in the fourth quarter valued at about $116,686,000. T. Rowe Price Investment Management Inc. bought a new stake in monday.com in the fourth quarter valued at about $109,605,000. Finally, Assenagon Asset Management S.A. increased its stake in monday.com by 754.8% in the first quarter. Assenagon Asset Management S.A. now owns 440,622 shares of the company's stock valued at $107,142,000 after acquiring an additional 389,073 shares during the period. Institutional investors own 73.70% of the company's stock.

monday.com Price Performance

MNDY traded down $14.61 during mid-day trading on Friday, hitting $247.69. The stock had a trading volume of 849,965 shares, compared to its average volume of 778,146. The stock's fifty day simple moving average is $294.87 and its 200-day simple moving average is $276.48. monday.com Ltd. has a 1-year low of $188.01 and a 1-year high of $342.64. The firm has a market capitalization of $12.57 billion, a price-to-earnings ratio of 252.74, a price-to-earnings-growth ratio of 100.50 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.70 by $0.40. The company had revenue of $282.25 million during the quarter, compared to the consensus estimate of $275.93 million. monday.com had a net margin of 5.08% and a return on equity of 7.87%. The firm's revenue was up 30.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.61 earnings per share. As a group, research analysts expect that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MNDY shares. Needham & Company LLC reissued a "buy" rating and issued a $400.00 target price on shares of monday.com in a research note on Tuesday, May 13th. Loop Capital decreased their price objective on shares of monday.com from $385.00 to $375.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. UBS Group decreased their price objective on shares of monday.com from $350.00 to $310.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Morgan Stanley initiated coverage on shares of monday.com in a research note on Tuesday, June 17th. They set an "equal weight" rating and a $330.00 price objective on the stock. Finally, Scotiabank upped their price objective on shares of monday.com from $315.00 to $330.00 and gave the stock a "sector outperform" rating in a research note on Friday, May 2nd. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $349.23.

About monday.com

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.