Lord Abbett & CO. LLC Increases Position in monday.com Ltd. $MNDY

Key Points

• Lord Abbett & CO. LLC increased its stake in monday.com Ltd. by 40.1% in the first quarter, owning approximately 0.23% of the company with a value of $28.1 million.
• Other institutional investors have also increased their positions, with Citigroup Inc. making a significant increase of 279.2% in the same period.
• monday.com reported strong quarterly earnings with $1.09 EPS, exceeding estimates, and showed a year-over-year revenue increase of 26.6%.

Lord Abbett & CO. LLC boosted its holdings in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 40.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 115,683 shares of the company's stock after purchasing an additional 33,095 shares during the period. Lord Abbett & CO. LLC owned approximately 0.23% of monday.com worth $28,129,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. ASR Vermogensbeheer N.V. bought a new stake in shares of monday.com in the 1st quarter valued at about $25,000. Grove Bank & Trust purchased a new position in monday.com in the 1st quarter worth approximately $30,000. First Horizon Advisors Inc. increased its stake 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 purchasing an additional 70 shares during the period. Signaturefd LLC lifted its position in monday.com by 50.7% in the first quarter. Signaturefd LLC now owns 217 shares of the company's stock valued at $53,000 after purchasing an additional 73 shares during the last quarter. Finally, Farther Finance Advisors LLC boosted its stake in shares of monday.com by 32.7% during the first quarter. Farther Finance Advisors LLC now owns 211 shares of the company's stock valued at $55,000 after purchasing an additional 52 shares during the period. 73.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MNDY shares. Morgan Stanley upgraded shares of monday.com from an "equal weight" rating to an "overweight" rating and lowered their price target for the company from $330.00 to $260.00 in a report on Tuesday, August 12th. Bank of America dropped their target price on shares of monday.com from $340.00 to $240.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Needham & Company LLC restated a "buy" rating and set a $250.00 price target on shares of monday.com in a report on Monday. Barclays lowered their price target on monday.com from $345.00 to $258.00 and set an "overweight" rating for the company in a research report on Tuesday, August 12th. Finally, Jefferies Financial Group cut their price objective on monday.com from $360.00 to $330.00 and set a "buy" rating on the stock in a research report on Monday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $305.18.

monday.com Trading Down 1.5%

monday.com stock traded down $2.72 during trading hours on Wednesday, hitting $173.37. 1,193,597 shares of the stock traded hands, compared to its average volume of 1,725,662. monday.com Ltd. has a one year low of $171.54 and a one year high of $342.64. The firm's 50-day moving average price is $268.92 and its two-hundred day moving average price is $272.86. The company has a market cap of $8.80 billion, a PE ratio of 234.29, a PEG ratio of 5.92 and a beta of 1.27.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its earnings results on Monday, August 11th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.25. monday.com had a return on equity of 6.32% and a net margin of 3.63%.The firm had revenue of $299.01 million during the quarter, compared to analyst estimates of $293.60 million. During the same quarter in the prior year, the company earned $0.94 EPS. The business's revenue was up 26.6% compared to the same quarter last year. monday.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, sell-side analysts expect that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

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.