M&T Bank Corp lessened its holdings in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 17.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,409 shares of the company's stock after selling 2,860 shares during the period. M&T Bank Corp's holdings in monday.com were worth $3,260,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust purchased a new position in monday.com in the first quarter valued at approximately $30,000. Signaturefd LLC grew its position in shares of monday.com by 157.1% in the 4th quarter. Signaturefd LLC now owns 144 shares of the company's stock valued at $34,000 after buying an additional 88 shares during the last quarter. First Horizon Advisors Inc. raised its stake in monday.com by 72.9% during 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 in the last quarter. Loomis Sayles & Co. L P purchased a new stake in monday.com in the fourth quarter valued at $44,000. Finally, Farther Finance Advisors LLC boosted its stake in monday.com by 32.7% in the first 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. Hedge funds and other institutional investors own 73.70% of the company's stock.
Analyst Ratings Changes
MNDY has been the topic of a number of research analyst reports. Canaccord Genuity Group cut their target price on monday.com from $375.00 to $350.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Loop Capital cut their price target on monday.com from $385.00 to $375.00 and set a "buy" rating on the stock in a research report on Tuesday, May 13th. Jefferies Financial Group decreased their price objective on monday.com from $400.00 to $360.00 and set a "buy" rating for the company in a report on Monday, March 31st. Morgan Stanley initiated coverage on shares of monday.com in a report on Tuesday, June 17th. They issued an "equal weight" rating and a $330.00 target price on the stock. Finally, Piper Sandler reiterated an "overweight" rating and set a $325.00 price target on shares of monday.com in a research note on Friday, June 27th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, monday.com currently has an average rating of "Moderate Buy" and a consensus price target of $349.23.
Get Our Latest Stock Analysis on monday.com
monday.com Trading Down 2.7%
Shares of monday.com stock opened at $301.19 on Friday. The company has a 50-day moving average of $295.06 and a two-hundred day moving average of $270.84. monday.com Ltd. has a 12-month low of $188.01 and a 12-month high of $342.64. The stock has a market cap of $15.29 billion, a PE ratio of 307.34, a price-to-earnings-growth ratio of 112.03 and a beta of 1.30.
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 the consensus estimate 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 return on equity of 7.87% and a net margin of 5.08%. monday.com's revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 earnings per share. On average, sell-side analysts forecast that monday.com Ltd. will post 0.46 EPS for the current fiscal year.
monday.com Company Profile
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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.
Further Reading
Want to see what other hedge funds are holding MNDY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for monday.com Ltd. (NASDAQ:MNDY - Free Report).
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