Palumbo Wealth Management LLC Raises Stock Position in monday.com Ltd. (NASDAQ:MNDY)

Palumbo Wealth Management LLC raised its holdings in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 32.6% during the first quarter, according to its most recent filing with the SEC. The firm owned 4,867 shares of the company's stock after purchasing an additional 1,197 shares during the period. Palumbo Wealth Management LLC's holdings in monday.com were worth $1,183,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in MNDY. FMR LLC increased its position in monday.com by 78.7% during the 4th quarter. FMR LLC now owns 2,701,952 shares of the company's stock valued at $636,147,000 after purchasing an additional 1,189,858 shares during the period. Rubicon Global Capital Ltd purchased a new position in monday.com during the 1st quarter valued at about $137,434,000. Norges Bank purchased a new position in monday.com during the 4th quarter valued at about $116,686,000. T. Rowe Price Investment Management Inc. purchased a new position in monday.com during the 4th quarter valued at about $109,605,000. Finally, CIBC Private Wealth Group LLC increased its position in monday.com by 264.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company's stock valued at $126,407,000 after purchasing an additional 403,255 shares during the period. Hedge funds and other institutional investors own 73.70% of the company's stock.

Analyst Ratings Changes

A number of research firms have commented on MNDY. Wall Street Zen raised shares of monday.com from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. DA Davidson cut their price objective on shares of monday.com from $350.00 to $290.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Wells Fargo & Company set a $365.00 price objective on shares of monday.com and gave the stock an "overweight" rating in a research report on Friday, June 13th. Barclays cut their price objective on shares of monday.com from $360.00 to $345.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 13th. Finally, Piper Sandler lifted their price objective on shares of monday.com from $305.00 to $325.00 and gave the stock an "overweight" rating in a research report on Monday, May 12th. Four investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, monday.com presently has a consensus rating of "Moderate Buy" and an average price target of $347.09.

monday.com Trading Up 2.9%

NASDAQ MNDY traded up $8.23 on Monday, hitting $288.69. 380,147 shares of the company's stock traded hands, compared to its average volume of 740,632. monday.com Ltd. has a 1-year low of $188.01 and a 1-year high of $342.64. The firm's 50-day moving average price is $283.08 and its two-hundred day moving average price is $266.93. The firm has a market capitalization of $14.66 billion, a PE ratio of 294.58, a P/E/G ratio of 101.48 and a beta of 1.30.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.40. The firm had revenue of $282.25 million during 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 business's quarterly revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.61 EPS. On average, research analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current fiscal 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.