Polen Capital Management LLC Purchases 18,075 Shares of monday.com Ltd. (NASDAQ:MNDY)

Key Points

• Polen Capital Management LLC increased its stake in monday.com Ltd. by 34%, now owning 71,261 shares valued at approximately $17.3 million as per their latest SEC filing.
• Several institutional investors have significantly raised their positions, with JPMorgan Chase & Co. leading by boosting its holdings by 102.5% to over $408 million.
• monday.com recently reported a quarterly earnings per share (EPS) of $1.10, surpassing expectations and reflecting a 30.2% year-over-year revenue increase to $282.25 million.

Polen Capital Management LLC grew its position in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 34.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 71,261 shares of the company's stock after buying an additional 18,075 shares during the quarter. Polen Capital Management LLC owned approximately 0.14% of monday.com worth $17,328,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. boosted its holdings in shares of monday.com by 102.5% in the first quarter. JPMorgan Chase & Co. now owns 1,682,013 shares of the company's stock worth $408,999,000 after buying an additional 851,231 shares during the period. China Universal Asset Management Co. Ltd. boosted its holdings in shares of monday.com by 5.4% during the first quarter. China Universal Asset Management Co. Ltd. now owns 17,700 shares of the company's stock worth $4,304,000 after purchasing an additional 900 shares during the period. ARK Investment Management LLC raised its position in monday.com by 25.7% during the first quarter. ARK Investment Management LLC now owns 8,030 shares of the company's stock valued at $1,953,000 after acquiring an additional 1,643 shares in the last quarter. Asset Management One Co. Ltd. raised its position in monday.com by 109.2% during the first quarter. Asset Management One Co. Ltd. now owns 27,231 shares of the company's stock valued at $6,647,000 after acquiring an additional 14,213 shares in the last quarter. Finally, Citigroup Inc. raised its position in monday.com by 279.2% during the first quarter. Citigroup Inc. now owns 163,974 shares of the company's stock valued at $39,872,000 after acquiring an additional 120,737 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on MNDY. KeyCorp reaffirmed an "overweight" rating and set a $330.00 price objective on shares of monday.com in a research report on Monday. Bank of America dropped their price target on shares of monday.com from $340.00 to $240.00 and set a "buy" rating on the stock in a research report on Tuesday. Needham & Company LLC dropped their target price on shares of monday.com from $400.00 to $250.00 and set a "buy" rating on the stock in a research report on Monday. Wall Street Zen lowered shares of monday.com from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Finally, UBS Group dropped their target price on shares of monday.com from $310.00 to $215.00 and set a "neutral" rating on the stock in a research report on Tuesday. Two equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $305.18.

monday.com Trading Down 1.1%

MNDY stock traded down $2.05 during mid-day trading on Thursday, reaching $176.46. The company's stock had a trading volume of 1,224,524 shares, compared to its average volume of 888,932. The company has a market cap of $8.96 billion, a price-to-earnings ratio of 237.73, a price-to-earnings-growth ratio of 62.29 and a beta of 1.27. The business's 50 day moving average price is $281.87 and its 200 day moving average price is $275.46. monday.com Ltd. has a 12 month low of $171.54 and a 12 month high of $342.64.

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