monday.com Ltd. (NASDAQ:MNDY) Shares Acquired by Citigroup Inc.

Key Points

• Citigroup Inc. increased its stake in monday.com Ltd. by 279.2% in the 1st quarter, owning a total of 163,974 shares valued at approximately $39.87 million.
• Analysts have set an average price target of $334.68 for monday.com, with several firms rating the stock as a "buy" and establishing price objectives ranging from $310.00 to $400.00.
• monday.com reported a net margin of 5.08% and a revenue of $299.01 million for its last quarter, exceeding analysts' expectations while showing a 26.6% year-over-year revenue growth.

Citigroup Inc. grew its stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 279.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 163,974 shares of the company's stock after buying an additional 120,737 shares during the quarter. Citigroup Inc. owned 0.32% of monday.com worth $39,872,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MNDY. Rubicon Global Capital Ltd acquired a new position in monday.com in the 1st quarter worth about $137,434,000. T. Rowe Price Investment Management Inc. acquired a new position in monday.com in the 4th quarter worth about $109,605,000. Assenagon Asset Management S.A. raised its holdings in monday.com by 754.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 440,622 shares of the company's stock worth $107,142,000 after purchasing an additional 389,073 shares during the period. BNP Paribas Financial Markets acquired a new position in monday.com in the 4th quarter worth about $65,898,000. Finally, Man Group plc raised its holdings in monday.com by 162.5% in the 4th quarter. Man Group plc now owns 316,190 shares of the company's stock worth $74,444,000 after purchasing an additional 195,741 shares during the period. Institutional investors and hedge funds own 73.70% of the company's stock.

monday.com Trading Down 0.9%

monday.com stock traded down $1.59 during mid-day trading on Thursday, hitting $176.92. The company's stock had a trading volume of 2,355,945 shares, compared to its average volume of 896,815. The stock's fifty day moving average is $281.87 and its two-hundred day moving average is $275.46. monday.com Ltd. has a 1 year low of $171.54 and a 1 year high of $342.64. The firm has a market capitalization of $8.98 billion, a PE ratio of 239.08, a price-to-earnings-growth ratio of 62.29 and a beta of 1.27.

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

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on MNDY shares. Canaccord Genuity Group cut their price objective on monday.com from $350.00 to $255.00 and set a "buy" rating for the company in a research note on Tuesday. Morgan Stanley upgraded monday.com from an "equal weight" rating to an "overweight" rating and cut their price objective for the stock from $330.00 to $260.00 in a research note on Tuesday. Wells Fargo & Company set a $365.00 price objective on monday.com and gave the stock an "overweight" rating in a research note on Friday, June 13th. JPMorgan Chase & Co. cut their price objective on monday.com from $400.00 to $350.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Finally, Bank of America dropped their price target on monday.com from $340.00 to $240.00 and set a "buy" rating for the company in a research report on Tuesday. Two investment analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $305.18.

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.