Evolutionary Tree Capital Management LLC Grows Stake in 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 increased its position in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 15.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,441 shares of the company's stock after buying an additional 1,636 shares during the period. monday.com accounts for approximately 3.5% of Evolutionary Tree Capital Management LLC's investment portfolio, making the stock its 13th biggest 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 have also added to or reduced their stakes in the company. Grove Bank & Trust acquired a new stake in monday.com in the 1st quarter valued at $30,000. First Horizon Advisors Inc. raised its holdings in shares of monday.com by 72.9% in the 1st quarter. First Horizon Advisors Inc. now owns 166 shares of the company's stock worth $40,000 after acquiring an additional 70 shares during the last quarter. Signaturefd LLC raised its holdings in shares of monday.com by 50.7% in the 1st quarter. Signaturefd LLC now owns 217 shares of the company's stock worth $53,000 after acquiring an additional 73 shares during the last quarter. Farther Finance Advisors LLC lifted its position in monday.com by 32.7% in the 1st quarter. Farther Finance Advisors LLC now owns 211 shares of the company's stock valued at $55,000 after acquiring an additional 52 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in monday.com during the 1st quarter valued at about $64,000. 73.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MNDY has been the subject of a number of recent research reports. Barclays decreased their price objective on monday.com from $360.00 to $345.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. DA Davidson decreased their price target on monday.com from $350.00 to $290.00 and set a "buy" rating for the company in a report on Monday, April 14th. Robert W. Baird set a $310.00 price objective on monday.com and gave the company an "outperform" rating in a research note on Wednesday. Baird R W upgraded shares of monday.com from a "hold" rating to a "strong-buy" rating in a report on Wednesday. Finally, Scotiabank boosted their price target on shares of monday.com from $315.00 to $330.00 and gave the stock a "sector outperform" rating in a report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $348.09.

monday.com Price Performance

Shares of NASDAQ:MNDY traded up $0.12 during trading on Friday, hitting $247.52. 759,208 shares of the company were exchanged, compared to its average volume of 784,979. monday.com Ltd. has a 52-week low of $202.01 and a 52-week high of $342.64. The stock has a 50 day moving average of $290.66 and a 200 day moving average of $277.01. The company has a market cap of $12.57 billion, a PE ratio of 253.11, a P/E/G ratio of 93.54 and a beta of 1.27.

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, topping analysts' consensus estimates of $0.70 by $0.40. The business had revenue of $282.25 million for the quarter, compared to analysts' expectations of $275.93 million. monday.com had a return on equity of 7.87% and a net margin of 5.08%. The firm's quarterly revenue was up 30.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 EPS. Sell-side analysts forecast that monday.com Ltd. will post 0.46 EPS 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.