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

Several other large investors have also recently bought and sold shares of MNDY. JPMorgan Chase & Co. increased its stake 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 valued at $408,999,000 after buying an additional 851,231 shares during the period. Townsquare Capital LLC grew its stake in monday.com by 59.8% during the first quarter. Townsquare Capital LLC now owns 3,244 shares of the company's stock worth $789,000 after purchasing an additional 1,214 shares during the period. National Bank of Canada FI grew its stake in monday.com by 70.1% during the first quarter. National Bank of Canada FI now owns 1,560 shares of the company's stock worth $379,000 after purchasing an additional 643 shares during the period. Citigroup Inc. grew its stake in monday.com by 279.2% during the first quarter. Citigroup Inc. now owns 163,974 shares of the company's stock worth $39,872,000 after purchasing an additional 120,737 shares during the period. Finally, Swiss National Bank grew its stake in monday.com by 1.2% during the first quarter. Swiss National Bank now owns 104,600 shares of the company's stock worth $25,435,000 after purchasing an additional 1,200 shares during the period. 73.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Scotiabank raised their target price on monday.com from $315.00 to $330.00 and gave the stock a "sector outperform" rating in a research note on Friday, May 2nd. TD Cowen cut their target price on monday.com from $360.00 to $290.00 and set a "buy" rating on the stock in a research report on Tuesday. Jefferies Financial Group reiterated a "buy" rating and set a $330.00 price target (down from $360.00) on shares of monday.com in a report on Monday. Loop Capital lowered their target price on monday.com from $385.00 to $375.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Finally, Robert W. Baird lowered their target price on monday.com from $310.00 to $240.00 and set an "outperform" rating on the stock in a research note on Tuesday. Two investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $311.09.

monday.com Stock Performance

Shares of monday.com stock traded down $1.98 during midday trading on Tuesday, hitting $172.15. The company had a trading volume of 4,859,894 shares, compared to its average volume of 1,062,083. The stock has a market capitalization of $8.74 billion, a P/E ratio of 232.64, a P/E/G ratio of 63.01 and a beta of 1.27. The company has a 50 day moving average of $284.40 and a 200 day moving average of $276.13. monday.com Ltd. has a 52-week low of $171.54 and a 52-week high of $342.64.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its earnings results on Monday, August 11th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.25. The business had revenue of $299.01 million for 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 6.56%. The business's revenue for the quarter was up 26.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.94 EPS. Equities research analysts forecast that monday.com Ltd. will post 0.46 EPS for the current 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.