TenCore Partners LP Trims Stock Holdings in monday.com Ltd. $MNDY

Key Points

• TenCore Partners LP reduced its stake in monday.com Ltd. by 5.0%, selling 5,255 shares, but still maintains a significant position with 99,530 shares, valued at approximately $24.2 million.
• JPMorgan Chase & Co. increased its holdings in monday.com by 102.5%, now owning 1,682,013 shares worth nearly $409 million after acquiring additional shares in the same quarter.
• Monday.com reported earnings of $1.09 per share for the last quarter, exceeding analysts' expectations, with a revenue increase of 26.6% year-over-year, amounting to $299.01 million.

TenCore Partners LP lowered its stake in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 5.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 99,530 shares of the company's stock after selling 5,255 shares during the period. monday.com comprises about 12.7% of TenCore Partners LP's investment portfolio, making the stock its 3rd biggest holding. TenCore Partners LP owned 0.20% of monday.com worth $24,202,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of monday.com by 102.5% during the 1st quarter. JPMorgan Chase & Co. now owns 1,682,013 shares of the company's stock valued at $408,999,000 after buying an additional 851,231 shares during the period. Public Sector Pension Investment Board increased its holdings in shares of monday.com by 8.7% during the 1st quarter. Public Sector Pension Investment Board now owns 18,661 shares of the company's stock worth $4,538,000 after purchasing an additional 1,500 shares during the period. Neuberger Berman Group LLC boosted its stake in monday.com by 34.5% during the first quarter. Neuberger Berman Group LLC now owns 408,960 shares of the company's stock worth $99,443,000 after buying an additional 104,968 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of monday.com by 45.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,401,580 shares of the company's stock valued at $583,969,000 after acquiring an additional 745,686 shares in the last quarter. Finally, Nuveen LLC acquired a new stake in monday.com during the first quarter valued at approximately $23,078,000. Institutional investors and hedge funds own 73.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MNDY. DA Davidson dropped their price objective on monday.com from $325.00 to $275.00 and set a "buy" rating for the company in a research note on Tuesday, August 12th. Canaccord Genuity Group dropped their target price on shares of monday.com from $350.00 to $255.00 and set a "buy" rating for the company in a research report on Tuesday, August 12th. Cowen reissued a "buy" rating on shares of monday.com in a report on Tuesday, August 12th. Wells Fargo & Company set a $365.00 price target on shares of monday.com and gave the company an "overweight" rating in a research report on Friday, June 13th. Finally, Citigroup decreased their price objective on shares of monday.com from $381.00 to $326.00 and set a "buy" rating on the stock in a research note on Tuesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have given a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $303.59.

monday.com Trading Down 1.1%

monday.com stock traded down $2.02 during mid-day trading on Friday, hitting $189.78. The stock had a trading volume of 295,472 shares, compared to its average volume of 931,117. The stock has a 50-day simple moving average of $233.50 and a two-hundred day simple moving average of $260.51. The stock has a market capitalization of $9.64 billion, a PE ratio of 256.07, a P/E/G ratio of 11.26 and a beta of 1.25. monday.com Ltd. has a 12 month low of $166.22 and a 12 month high of $342.64.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its quarterly earnings results on Monday, August 11th. The company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.25. The business had revenue of $299.01 million for the quarter, compared to analysts' expectations of $293.60 million. monday.com had a return on equity of 6.32% and a net margin of 3.63%.The firm's quarterly revenue was up 26.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.94 earnings per share. monday.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts expect that monday.com Ltd. will post 0.46 earnings per share for the current fiscal 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.