Thornburg Investment Management Inc. Increases Stock Position in monday.com Ltd. (NASDAQ:MNDY)

Thornburg Investment Management Inc. lifted its position in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,035 shares of the company's stock after acquiring an additional 2,022 shares during the quarter. Thornburg Investment Management Inc.'s holdings in monday.com were worth $6,088,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Valliance Asset Management Ltd bought a new position in shares of monday.com during the 1st quarter worth $729,000. Kirtland Hills Capital Management LLC purchased a new stake in monday.com during the 1st quarter worth about $240,000. Wincap Financial LLC increased its stake in monday.com by 16.6% in the 1st quarter. Wincap Financial LLC now owns 2,362 shares of the company's stock worth $574,000 after acquiring an additional 337 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in monday.com by 3.5% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,082 shares of the company's stock worth $3,910,000 after acquiring an additional 548 shares during the last quarter. Finally, ARK Investment Management LLC increased its stake in monday.com by 25.7% in the 1st quarter. ARK Investment Management LLC now owns 8,030 shares of the company's stock worth $1,953,000 after acquiring an additional 1,643 shares during the last quarter. Institutional investors own 73.70% of the company's stock.

monday.com Trading Down 4.5%

Shares of NASDAQ MNDY traded down $11.75 during trading hours on Friday, reaching $250.54. The stock had a trading volume of 1,190,288 shares, compared to its average volume of 433,095. The firm has a market cap of $12.72 billion, a price-to-earnings ratio of 255.65, a PEG ratio of 94.91 and a beta of 1.30. monday.com Ltd. has a fifty-two week low of $188.01 and a fifty-two week high of $342.64. The firm has a 50-day moving average of $294.10 and a 200-day moving average of $276.69.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.70 by $0.40. The firm had revenue of $282.25 million during the quarter, compared to analysts' expectations of $275.93 million. monday.com had a return on equity of 7.87% and a net margin of 5.08%. The business's revenue was up 30.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.61 EPS. On average, equities analysts predict that monday.com Ltd. will post 0.46 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MNDY shares. UBS Group dropped their price target on monday.com from $350.00 to $310.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 price target on shares of monday.com in a research note on Tuesday, May 13th. Morgan Stanley assumed coverage on shares of monday.com in a research report on Tuesday, June 17th. They set an "equal weight" rating and a $330.00 price objective on the stock. Barclays cut their price target on monday.com from $360.00 to $345.00 and set an "overweight" rating for the company in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company set a $365.00 price objective on shares of monday.com and gave the stock an "overweight" rating in a research note on Friday, June 13th. Four investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $349.23.

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.