Pier 88 Investment Partners LLC Acquires 1,480 Shares of monday.com Ltd. (NASDAQ:MNDY)

Pier 88 Investment Partners LLC grew its holdings in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 63.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 3,820 shares of the company's stock after buying an additional 1,480 shares during the quarter. Pier 88 Investment Partners LLC's holdings in monday.com were worth $929,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Grove Bank & Trust purchased a new position in shares of monday.com in the first quarter worth approximately $30,000. Signaturefd LLC raised its stake in shares of monday.com by 157.1% in the fourth quarter. Signaturefd LLC now owns 144 shares of the company's stock valued at $34,000 after acquiring an additional 88 shares during the period. First Horizon Advisors Inc. raised its stake 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 purchased a new stake in shares of monday.com in the fourth quarter valued at $44,000. Finally, Farther Finance Advisors LLC grew its holdings 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 purchasing an additional 52 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors.

monday.com Price Performance

Shares of monday.com stock traded up $1.98 during trading on Tuesday, hitting $286.13. The stock had a trading volume of 90,639 shares, compared to its average volume of 735,171. The firm's fifty day simple moving average is $296.33 and its 200-day simple moving average is $273.60. 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 $14.53 billion, a PE ratio of 291.86, a PEG ratio of 105.59 and a beta of 1.30.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.70 by $0.40. The company 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%. The firm's quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.61 earnings per share. Analysts expect that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MNDY has been the topic of a number of recent analyst reports. Morgan Stanley began coverage on monday.com in a research report on Tuesday, June 17th. They set an "equal weight" rating and a $330.00 price target on the stock. Needham & Company LLC reaffirmed a "buy" rating and set a $400.00 price target on shares of monday.com in a research report on Tuesday, May 13th. Canaccord Genuity Group decreased their target price on shares of monday.com from $375.00 to $350.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. Jefferies Financial Group dropped their target price on monday.com from $400.00 to $360.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Finally, Wells Fargo & Company set a $365.00 target price on monday.com and gave the company an "overweight" rating in a research report on Friday, June 13th. Five research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $349.23.

monday.com 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.

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