Public Employees Retirement System of Ohio Purchases New Position in monday.com Ltd. $MNDY

Key Points

• Public Employees Retirement System of Ohio acquired 13,400 monday.com shares in the second quarter, valued at approximately $970,000. Institutional investors collectively own 73.7% of the company.
• monday.com reported quarterly EPS of $1.48, beating estimates of $1.11, while revenue rose 21.9% year over year to $364.62 million.
• Analyst sentiment remains positive overall, with a consensus “Moderate Buy” rating and an average price target of $117.91, compared with the stock’s reported price of $83.67.

Public Employees Retirement System of Ohio acquired a new position in monday.com Ltd. (NASDAQ:MNDY - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The fund acquired 13,400 shares of the company's stock, valued at approximately $970,000.

Several other hedge funds have also made changes to their positions in the stock. Capital World Investors increased its stake in shares of monday.com by 91.4% in the fourth quarter. Capital World Investors now owns 3,286,461 shares of the company's stock valued at $484,950,000 after purchasing an additional 1,569,198 shares during the period. Renaissance Technologies LLC lifted its stake in shares of monday.com by 93.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company's stock worth $150,797,000 after acquiring an additional 1,052,900 shares during the period. Norges Bank bought a new position in shares of monday.com in the fourth quarter valued at approximately $79,789,000. Marshall Wace LLP increased its stake in shares of monday.com by 294.0% during the third quarter. Marshall Wace LLP now owns 405,995 shares of the company's stock valued at $78,637,000 after acquiring an additional 302,961 shares during the period. Finally, Amundi raised its holdings in monday.com by 104.2% during the third quarter. Amundi now owns 511,498 shares of the company's stock worth $96,499,000 after purchasing an additional 261,000 shares in the last quarter. Institutional investors own 73.70% of the company's stock.

monday.com Price Performance

NASDAQ MNDY opened at $83.67 on Wednesday. The firm has a market capitalization of $4.28 billion, a price-to-earnings ratio of 35.60, a price-to-earnings-growth ratio of 2.13 and a beta of 1.15. The company has a 50 day simple moving average of $86.85 and a 200-day simple moving average of $78.16. monday.com Ltd. has a 52-week low of $57.50 and a 52-week high of $220.80.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The company reported $1.48 EPS for the quarter, beating analysts' consensus estimates of $1.11 by $0.37. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The firm had revenue of $364.62 million for the quarter, compared to the consensus estimate of $355.55 million. During the same period in the previous year, the firm posted $1.09 earnings per share. The firm's revenue was up 21.9% on a year-over-year basis. On average, analysts predict that monday.com Ltd. will post 2.25 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on MNDY shares. Jefferies Financial Group reiterated a "hold" rating and set a $95.00 price target on shares of monday.com in a research report on Monday, August 10th. Wall Street Zen downgraded shares of monday.com from a "buy" rating to a "hold" rating in a report on Saturday. UBS Group raised their price objective on shares of monday.com from $85.00 to $95.00 and gave the company a "neutral" rating in a research report on Tuesday, August 11th. Zacks Research raised shares of monday.com from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, August 12th. Finally, BTIG Research reiterated a "buy" rating and issued a $105.00 target price on shares of monday.com in a report on Monday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, monday.com presently has an average rating of "Moderate Buy" and a consensus target price of $117.91.

monday.com Company Profile

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com's visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company's product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.

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