M&T Bank Corp Has $3.26 Million Stake in monday.com Ltd. (NASDAQ:MNDY)

M&T Bank Corp lessened its stake in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 17.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,409 shares of the company's stock after selling 2,860 shares during the quarter. 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 and hedge funds have also recently added to or reduced their stakes in the company. Grove Bank & Trust acquired a new stake in shares of monday.com during the 1st quarter worth about $30,000. Signaturefd LLC boosted its position in monday.com by 157.1% during the fourth quarter. Signaturefd LLC now owns 144 shares of the company's stock worth $34,000 after purchasing an additional 88 shares during the period. First Horizon Advisors Inc. boosted its position in shares of 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 acquiring an additional 70 shares during the period. Loomis Sayles & Co. L P bought a new stake in monday.com during the fourth quarter valued at approximately $44,000. Finally, Farther Finance Advisors LLC increased its stake in shares of monday.com by 32.7% in the first quarter. Farther Finance Advisors LLC now owns 211 shares of the company's stock worth $55,000 after buying an additional 52 shares during the period. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

monday.com Price Performance

Shares of MNDY traded up $6.31 during mid-day trading on Monday, hitting $290.92. 361,000 shares of the company's stock were exchanged, compared to its average volume of 737,809. monday.com Ltd. has a 52 week low of $188.01 and a 52 week high of $342.64. The company has a market cap of $14.77 billion, a PE ratio of 296.86, a P/E/G ratio of 102.99 and a beta of 1.30. The company has a 50-day simple moving average of $295.17 and a 200 day simple moving average of $271.69.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings results 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 the consensus estimate of $275.93 million. monday.com had a return on equity of 7.87% and a net margin of 5.08%. The company's revenue for the quarter was up 30.2% on a year-over-year basis. During the same quarter last year, the company posted $0.61 EPS. On average, analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MNDY. Scotiabank raised their price target on monday.com from $315.00 to $330.00 and gave the company a "sector outperform" rating in a research note on Friday, May 2nd. Wells Fargo & Company set a $365.00 price target on monday.com and gave the stock an "overweight" rating in a report on Friday, June 13th. Barclays cut their target price on monday.com from $360.00 to $345.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. UBS Group cut their price target on shares of monday.com from $350.00 to $310.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Finally, Morgan Stanley assumed coverage on shares of monday.com in a research note on Tuesday, June 17th. They set an "equal weight" rating and a $330.00 target price for the company. Five investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $349.23.

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.