monday.com Ltd. (NASDAQ:MNDY) Position Lowered by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. decreased its stake in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 13.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 150,923 shares of the company's stock after selling 23,876 shares during the period. Envestnet Asset Management Inc. owned about 0.30% of monday.com worth $36,698,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. Asset Management One Co. Ltd. lifted its holdings in monday.com by 109.2% in the first quarter. Asset Management One Co. Ltd. now owns 27,231 shares of the company's stock worth $6,647,000 after acquiring an additional 14,213 shares during the last quarter. Bank of Montreal Can lifted its holdings in monday.com by 62.0% in the fourth quarter. Bank of Montreal Can now owns 22,097 shares of the company's stock worth $5,203,000 after acquiring an additional 8,454 shares during the last quarter. Rubicon Global Capital Ltd bought a new position in monday.com in the first quarter worth about $137,434,000. Vontobel Holding Ltd. bought a new position in monday.com in the first quarter worth about $221,000. Finally, Twinbeech Capital LP bought a new position in monday.com in the fourth quarter worth about $12,146,000. Institutional investors own 73.70% of the company's stock.

monday.com Price Performance

NASDAQ MNDY opened at $284.61 on Monday. The firm has a market capitalization of $14.45 billion, a PE ratio of 290.42, a P/E/G ratio of 102.99 and a beta of 1.30. monday.com Ltd. has a 12 month low of $188.01 and a 12 month high of $342.64. The company's 50 day simple moving average is $295.17 and its 200 day simple moving average is $271.69.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its quarterly earnings results 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 firm had revenue of $282.25 million for the quarter, compared to analyst estimates of $275.93 million. monday.com had a net margin of 5.08% and a return on equity of 7.87%. The firm's quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.61 earnings per share. Sell-side analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on MNDY shares. Wells Fargo & Company set a $365.00 target price on shares of monday.com and gave the stock an "overweight" rating in a report on Friday, June 13th. Morgan Stanley started coverage on shares of monday.com in a report on Tuesday, June 17th. They issued an "equal weight" rating and a $330.00 target price on the stock. Jefferies Financial Group cut their target price on shares of monday.com from $400.00 to $360.00 and set a "buy" rating on the stock in a report on Monday, March 31st. DA Davidson reduced their price objective on monday.com from $350.00 to $290.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, UBS Group reduced their price objective on monday.com from $350.00 to $310.00 and set a "neutral" rating for the company in a research report on Tuesday, April 29th. Five investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, monday.com currently has a consensus rating of "Moderate Buy" and an average target price of $349.23.

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.

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