monday.com Ltd. $MNDY Shares Bought by Neuberger Berman Group LLC

Key Points

• Neuberger Berman Group LLC increased its stake in monday.com Ltd. by 34.5%, acquiring an additional 104,968 shares in the first quarter, bringing its total ownership to 408,960 shares.
• monday.com reported $299.01 million in revenue for the last quarter, reflecting a 26.6% year-over-year increase and beating consensus estimates of $293.60 million.
• Analysts have adjusted their target prices for monday.com, with Canaccord Genuity dropping it from $350.00 to $255.00 and UBS lowering it from $310.00 to $215.00, while the consensus rating remains a “Moderate Buy”.

Neuberger Berman Group LLC lifted its holdings in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 34.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 408,960 shares of the company's stock after buying an additional 104,968 shares during the quarter. Neuberger Berman Group LLC owned approximately 0.81% of monday.com worth $99,443,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. ASR Vermogensbeheer N.V. purchased a new position in monday.com during the 1st quarter worth $25,000. Grove Bank & Trust purchased a new position in monday.com during the 1st quarter worth $30,000. First Horizon Advisors Inc. increased its holdings 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 purchasing an additional 70 shares during the period. Signaturefd LLC increased its holdings in monday.com by 50.7% during the 1st quarter. Signaturefd LLC now owns 217 shares of the company's stock worth $53,000 after purchasing an additional 73 shares during the period. Finally, Farther Finance Advisors LLC increased its holdings in 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 purchasing an additional 52 shares during the period. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

monday.com Stock Up 1.9%

Shares of monday.com stock traded up $3.27 during trading on Monday, reaching $179.01. The company's stock had a trading volume of 1,371,185 shares, compared to its average volume of 904,797. The company has a market cap of $9.09 billion, a price-to-earnings ratio of 241.91, a P/E/G ratio of 5.91 and a beta of 1.27. monday.com Ltd. has a 1-year low of $171.54 and a 1-year high of $342.64. The company has a 50-day simple moving average of $276.72 and a two-hundred day simple moving average of $274.76.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings results on Monday, August 11th. The company reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $0.84 by $0.25. monday.com had a return on equity of 6.32% and a net margin of 3.63%. The company had revenue of $299.01 million during the quarter, compared to analysts' expectations of $293.60 million. During the same quarter in the previous year, the firm posted $0.94 EPS. The firm's revenue was up 26.6% compared to the same quarter last year. As a group, analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

MNDY has been the topic of several research reports. Wall Street Zen downgraded monday.com from a "buy" rating to a "hold" rating in a report on Saturday, July 5th. Robert W. Baird reduced their price objective on monday.com from $310.00 to $240.00 and set an "outperform" rating on the stock in a report on Tuesday, August 12th. TD Cowen reduced their price objective on monday.com from $360.00 to $290.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Jefferies Financial Group restated a "buy" rating and set a $330.00 price objective (down from $360.00) on shares of monday.com in a report on Monday, August 11th. Finally, Citigroup cut their price target on monday.com from $381.00 to $326.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Two equities research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $305.18.

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.