Jennison Associates LLC reduced its position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 92.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 65,788 shares of the company's stock after selling 765,023 shares during the period. Jennison Associates LLC owned about 0.13% of monday.com worth $15,997,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Spire Wealth Management raised its stake in monday.com by 7.9% in the first quarter. Spire Wealth Management now owns 572 shares of the company's stock valued at $139,000 after buying an additional 42 shares in the last quarter. Clearbridge Investments LLC increased its holdings in shares of monday.com by 0.3% in the 4th quarter. Clearbridge Investments LLC now owns 13,501 shares of the company's stock valued at $3,179,000 after acquiring an additional 44 shares during the last quarter. Farther Finance Advisors LLC raised its position in shares of monday.com by 32.7% during the 1st quarter. Farther Finance Advisors LLC now owns 211 shares of the company's stock worth $55,000 after acquiring an additional 52 shares in the last quarter. Prudential Financial Inc. lifted its stake in monday.com by 1.3% during the fourth quarter. Prudential Financial Inc. now owns 4,122 shares of the company's stock worth $970,000 after purchasing an additional 53 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in monday.com by 72.9% in the first quarter. First Horizon Advisors Inc. now owns 166 shares of the company's stock valued at $40,000 after purchasing an additional 70 shares in the last quarter. Institutional investors and hedge funds own 73.70% of the company's stock.
monday.com Price Performance
NASDAQ MNDY traded down $1.91 on Thursday, hitting $289.27. 228,331 shares of the company's stock were exchanged, compared to its average volume of 401,190. The firm has a market cap of $14.69 billion, a price-to-earnings ratio of 295.17, a P/E/G ratio of 105.36 and a beta of 1.30. The firm's 50-day moving average price is $296.27 and its two-hundred day moving average price is $274.51. monday.com Ltd. has a fifty-two week low of $188.01 and a fifty-two week high of $342.64.
monday.com (NASDAQ:MNDY - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.40. The firm had revenue of $282.25 million for the quarter, compared to analyst estimates of $275.93 million. monday.com had a return on equity of 7.87% and a net margin of 5.08%. monday.com's quarterly revenue was up 30.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.61 earnings per share. On average, research analysts predict that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages have commented on MNDY. DA Davidson dropped their price target on shares of monday.com from $350.00 to $290.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Scotiabank increased their target price on shares of monday.com from $315.00 to $330.00 and gave the company a "sector outperform" rating in a research report on Friday, May 2nd. Canaccord Genuity Group cut their price target 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. Barclays decreased their price objective on shares of monday.com from $360.00 to $345.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Finally, 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 report on Tuesday, May 13th. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $349.23.
Check Out Our Latest Report on monday.com
monday.com Profile
(
Free Report)
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.
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