Evolutionary Tree Capital Management LLC Purchases 1,636 Shares of monday.com Ltd. (NASDAQ:MNDY)

Key Points

• Evolutionary Tree Capital Management LLC increased its stake in monday.com Ltd. by 15.1%, now holding 12,441 shares valued at approximately $3,025,000.
• monday.com reported earnings of $1.10 per share for the recent quarter, exceeding estimates and showcasing a 30.2% revenue increase year-over-year.
• Analysts generally favor monday.com, with an average rating of "Moderate Buy" and a consensus price target of $349.23.

Evolutionary Tree Capital Management LLC raised its position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 15.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,441 shares of the company's stock after purchasing an additional 1,636 shares during the quarter. monday.com comprises 3.5% of Evolutionary Tree Capital Management LLC's portfolio, making the stock its 13th largest holding. Evolutionary Tree Capital Management LLC's holdings in monday.com were worth $3,025,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. WCM Investment Management LLC raised its holdings in shares of monday.com by 0.4% during the first quarter. WCM Investment Management LLC now owns 4,078,985 shares of the company's stock worth $1,007,550,000 after acquiring an additional 17,371 shares in the last quarter. FMR LLC increased its holdings in shares of 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 acquiring an additional 1,189,858 shares during the last quarter. Rubicon Global Capital Ltd bought a new position in shares of monday.com in the 1st quarter valued at approximately $137,434,000. T. Rowe Price Investment Management Inc. acquired a new stake in monday.com in the 4th quarter worth approximately $109,605,000. Finally, Assenagon Asset Management S.A. boosted its position in monday.com by 754.8% during the first 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. 73.70% of the stock is owned by institutional investors and hedge funds.

monday.com Stock Performance

MNDY traded up $8.76 during midday trading on Wednesday, reaching $258.72. 1,135,352 shares of the company were exchanged, compared to its average volume of 532,478. The stock has a market capitalization of $13.14 billion, a P/E ratio of 166.64, a PEG ratio of 90.45 and a beta of 1.27. monday.com Ltd. has a one year low of $202.01 and a one year high of $342.64. The stock's 50-day simple moving average is $292.34 and its 200 day simple moving average is $277.10.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.40. The firm had revenue of $282.25 million during the quarter, compared to analysts' expectations of $275.93 million. monday.com had a net margin of 5.08% and a return on equity of 7.87%. The business's revenue for the quarter was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.61 earnings per share. On average, research analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Loop Capital dropped their price objective 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. Canaccord Genuity Group lowered their price objective on shares of monday.com from $375.00 to $350.00 and set a "buy" rating on the stock in a research note on Tuesday, May 13th. Wall Street Zen lowered shares of monday.com from a "buy" rating to a "hold" rating in a research report on Saturday, July 5th. Wells Fargo & Company set a $365.00 price target on monday.com and gave the company an "overweight" rating in a report on Friday, June 13th. Finally, Piper Sandler reissued an "overweight" rating and set a $325.00 price objective on shares of monday.com in a report on Friday, June 27th. Three equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, monday.com presently has an average rating of "Moderate Buy" and a consensus target price of $348.09.

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.