New York State Common Retirement Fund Has $133,000 Stock Position in monday.com Ltd. (NASDAQ:MNDY)

Key Points

• The New York State Common Retirement Fund significantly reduced its holdings in monday.com Ltd. by 97.8% in the first quarter, owning only 547 shares valued at $133,000 after selling 24,006 shares.
• Several hedge funds increased their stakes in monday.com, with WCM Investment Management boosting its holdings by 0.4% to a total of 4,078,985 shares worth over $1 billion.
• Analysts have a favorable outlook on monday.com, with an average rating of "Moderate Buy" and a target price of approximately $349.23, indicating a strong positive sentiment among experts.

New York State Common Retirement Fund lessened its position in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 97.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 547 shares of the company's stock after selling 24,006 shares during the period. New York State Common Retirement Fund's holdings in monday.com were worth $133,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Grove Bank & Trust acquired a new stake in shares of monday.com during the first quarter worth $30,000. First Horizon Advisors Inc. grew its holdings in shares of monday.com by 72.9% during the first quarter. First Horizon Advisors Inc. now owns 166 shares of the company's stock valued at $40,000 after buying an additional 70 shares in the last quarter. Loomis Sayles & Co. L P purchased a new position in shares of monday.com during the fourth quarter valued at $44,000. Farther Finance Advisors LLC grew its holdings in shares of monday.com by 32.7% during the first quarter. Farther Finance Advisors LLC now owns 211 shares of the company's stock valued at $55,000 after buying an additional 52 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in shares of monday.com during the first quarter valued at $64,000. Institutional investors own 73.70% of the company's stock.

monday.com Stock Down 1.3%

Shares of NASDAQ:MNDY traded down $3.61 on Tuesday, reaching $280.45. The company had a trading volume of 737,480 shares, compared to its average volume of 777,930. monday.com Ltd. has a twelve month low of $188.01 and a twelve month high of $342.64. The stock has a market capitalization of $14.24 billion, a P/E ratio of 286.17, a P/E/G ratio of 105.75 and a beta of 1.30. The stock has a 50-day moving average price of $296.13 and a 200 day moving average price of $276.10.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.40. monday.com had a return on equity of 7.87% and a net margin of 5.08%. The business had revenue of $282.25 million during the quarter, compared to analysts' expectations of $275.93 million. During the same quarter in the previous year, the firm earned $0.61 EPS. The firm's revenue was up 30.2% compared to the same quarter last year. On average, sell-side analysts predict that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Needham & Company LLC reiterated a "buy" rating and set a $400.00 price target on shares of monday.com in a report on Tuesday, May 13th. Scotiabank lifted their price target on monday.com from $315.00 to $330.00 and gave the company a "sector outperform" rating in a report on Friday, May 2nd. JPMorgan Chase & Co. lowered their price target on monday.com from $400.00 to $350.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. DA Davidson lowered their price target on monday.com from $350.00 to $290.00 and set a "buy" rating on the stock in a report on Monday, April 14th. Finally, Barclays lowered their target price on monday.com from $360.00 to $345.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, monday.com presently has a consensus rating of "Moderate Buy" and a consensus target price of $349.23.

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.