Taylor Frigon Capital Management LLC Boosts Stake in monday.com Ltd. $MNDY

Key Points

• Taylor Frigon Capital Management more than doubled its position in monday.com during the first quarter, increasing its stake by 101.6% to 29,556 shares worth about $2.04 million.
• Institutional ownership remains heavy, with hedge funds and other investors holding 73.7% of monday.com shares and several firms also boosting their stakes recently.
• The stock was down 3.7% to $81.02, while analysts currently rate monday.com a Moderate Buy with an average target price of $126.48.

Taylor Frigon Capital Management LLC grew its stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 101.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,556 shares of the company's stock after acquiring an additional 14,894 shares during the quarter. Taylor Frigon Capital Management LLC owned about 0.06% of monday.com worth $2,043,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Capital World Investors boosted its holdings in shares of monday.com by 231.2% in the 3rd quarter. Capital World Investors now owns 1,717,263 shares of the company's stock valued at $332,617,000 after buying an additional 1,198,761 shares in the last quarter. AMS Capital Ltda purchased a new stake in monday.com during the fourth quarter valued at approximately $4,055,000. Dorsal Capital Management LP boosted its stake in monday.com by 13.3% in the third quarter. Dorsal Capital Management LP now owns 425,000 shares of the company's stock valued at $82,318,000 after acquiring an additional 50,000 shares in the last quarter. SG Americas Securities LLC boosted its stake in monday.com by 110.9% in the fourth quarter. SG Americas Securities LLC now owns 932,912 shares of the company's stock valued at $137,660,000 after acquiring an additional 490,491 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. grew its holdings in monday.com by 75.9% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 139,009 shares of the company's stock worth $20,512,000 after purchasing an additional 60,000 shares during the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

monday.com Stock Down 3.7%

monday.com stock opened at $81.02 on Thursday. monday.com Ltd. has a 52 week low of $57.50 and a 52 week high of $314.99. The company has a market capitalization of $4.14 billion, a price-to-earnings ratio of 35.23, a price-to-earnings-growth ratio of 4.21 and a beta of 1.26. The stock has a 50-day moving average price of $76.84 and a 200 day moving average price of $88.83.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings results on Friday, March 13th. The company reported $1.15 earnings per share for the quarter. The company had revenue of $351.26 million for the quarter. monday.com had a net margin of 9.17% and a return on equity of 5.10%. Research analysts anticipate that monday.com Ltd. will post 1.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on MNDY shares. Canaccord Genuity Group lowered their price objective on monday.com from $140.00 to $115.00 and set a "buy" rating for the company in a research report on Tuesday, May 12th. TD Cowen raised their price target on monday.com from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Tuesday, May 12th. Tigress Financial dropped their price target on monday.com to $165.00 and set a "buy" rating on the stock in a research note on Friday, May 22nd. UBS Group decreased their price objective on shares of monday.com from $93.00 to $85.00 and set a "neutral" rating for the company in a research report on Tuesday, May 12th. Finally, Oppenheimer set a $115.00 target price on shares of monday.com in a research report on Monday, May 11th. Seventeen investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $126.48.

monday.com 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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