Rafferty Asset Management LLC Purchases New Shares in monday.com Ltd. $MNDY

Key Points

• Rafferty Asset Management LLC has acquired a new position in monday.com Ltd. with 1,854 shares valued at approximately $451,000.
• Several analysts have revised their ratings for monday.com, with Zacks Research downgrading it to a "strong sell" and Goldman Sachs lowering their price target from $350 to $270.
• monday.com reported earnings of $1.09 per share, exceeding analysts' expectations, with a revenue increase of 26.6% compared to the same quarter last year.

Rafferty Asset Management LLC bought a new position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,854 shares of the company's stock, valued at approximately $451,000.

Several other institutional investors have also recently bought and sold shares of MNDY. JPMorgan Chase & Co. raised its stake in monday.com by 102.5% during the first quarter. JPMorgan Chase & Co. now owns 1,682,013 shares of the company's stock worth $408,999,000 after acquiring an additional 851,231 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of monday.com by 45.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,401,580 shares of the company's stock worth $583,969,000 after purchasing an additional 745,686 shares during the last quarter. Rubicon Global Capital Ltd bought a new stake in shares of monday.com during the first quarter worth about $137,434,000. 1832 Asset Management L.P. bought a new stake in shares of monday.com during the first quarter worth about $115,744,000. Finally, T. Rowe Price Investment Management Inc. grew its holdings in shares of monday.com by 98.6% during the first quarter. T. Rowe Price Investment Management Inc. now owns 924,325 shares of the company's stock worth $224,759,000 after purchasing an additional 458,794 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. Needham & Company LLC restated a "buy" rating and set a $250.00 price target on shares of monday.com in a report on Monday, August 18th. Baird R W upgraded monday.com from a "hold" rating to a "strong-buy" rating in a report on Wednesday, August 6th. The Goldman Sachs Group reduced their target price on monday.com from $350.00 to $270.00 and set a "buy" rating on the stock in a report on Wednesday, August 13th. DA Davidson reduced their target price on monday.com from $325.00 to $275.00 and set a "buy" rating on the stock in a report on Tuesday, August 12th. Finally, UBS Group reduced their target price on monday.com from $310.00 to $215.00 and set a "neutral" rating on the stock in a report on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, monday.com presently has a consensus rating of "Moderate Buy" and a consensus target price of $303.59.

monday.com Trading Up 1.8%

Shares of MNDY traded up $3.31 during trading hours on Friday, reaching $185.73. The stock had a trading volume of 956,115 shares, compared to its average volume of 2,021,460. monday.com Ltd. has a 12 month low of $166.22 and a 12 month high of $342.64. The firm has a 50-day simple moving average of $242.61 and a 200 day simple moving average of $263.63. The company has a market capitalization of $9.43 billion, a price-to-earnings ratio of 250.99, a P/E/G ratio of 10.96 and a beta of 1.25.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its earnings results on Monday, August 11th. The company reported $1.09 earnings per share (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 for the quarter, compared to analysts' expectations of $293.60 million. During the same period last year, the business earned $0.94 EPS. monday.com's quarterly revenue was up 26.6% compared to the same quarter last year. monday.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts forecast that monday.com Ltd. will post 0.46 EPS for the current year.

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.