Lord Abbett & CO. LLC Has $28.13 Million Holdings 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 lifted its holdings in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 40.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 115,683 shares of the company's stock after buying an additional 33,095 shares during the period. Lord Abbett & CO. LLC owned 0.23% of monday.com worth $28,129,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of MNDY. ASR Vermogensbeheer N.V. acquired a new position in monday.com during the 1st quarter valued at about $25,000. Grove Bank & Trust bought a new stake in shares of monday.com in the 1st quarter worth approximately $30,000. First Horizon Advisors Inc. raised its holdings in shares of monday.com by 72.9% during the first quarter. First Horizon Advisors Inc. now owns 166 shares of the company's stock valued at $40,000 after acquiring an additional 70 shares during the period. Farther Finance Advisors LLC grew its position in monday.com by 32.7% in the first quarter. Farther Finance Advisors LLC now owns 211 shares of the company's stock worth $55,000 after acquiring an additional 52 shares in the last quarter. Finally, Signaturefd LLC grew its position in monday.com by 50.7% in the first quarter. Signaturefd LLC now owns 217 shares of the company's stock worth $53,000 after acquiring an additional 73 shares in the last quarter. Institutional investors own 73.70% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on MNDY. Cowen reiterated a "buy" rating on shares of monday.com in a research note on Tuesday, August 12th. DA Davidson decreased their target price on shares of monday.com from $325.00 to $275.00 and set a "buy" rating on the stock in a research report on Tuesday, August 12th. Baird R W upgraded shares of monday.com from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, August 6th. Canaccord Genuity Group cut their price target on shares of monday.com from $350.00 to $255.00 and set a "buy" rating for the company in a report on Tuesday, August 12th. Finally, Wall Street Zen downgraded shares of monday.com from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $305.18.

monday.com Trading Down 1.1%

Shares of NASDAQ:MNDY traded down $1.9650 during trading on Tuesday, hitting $177.0450. 984,313 shares of the company's stock were exchanged, compared to its average volume of 905,053. The firm has a market cap of $8.99 billion, a P/E ratio of 239.77, a PEG ratio of 5.91 and a beta of 1.27. The firm has a 50-day moving average price of $274.12 and a two-hundred day moving average price of $274.23. monday.com Ltd. has a 1-year low of $171.54 and a 1-year high of $342.64.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings data on Monday, August 11th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.25. The firm had revenue of $299.01 million during the quarter, compared to analysts' expectations of $293.60 million. monday.com had a net margin of 3.63% and a return on equity of 6.32%. The business's revenue for the quarter was up 26.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.94 earnings per share. monday.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, research analysts predict that monday.com Ltd. will post 0.46 EPS 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.