TIAA Trust National Association Decreases Holdings in monday.com Ltd. (NASDAQ:MNDY)

Key Points

• TIAA Trust National Association significantly reduced its holdings in monday.com Ltd. by 87.0%, owning 6,542 shares after selling 43,970 shares in the first quarter.
• Analysts maintain a consensus target price of $349.23 for the stock, with a majority giving it a "buy" rating, while others have assigned a "hold" rating following price target adjustments.
• monday.com reported a 30.2% year-over-year revenue growth for the latest quarter, with earnings per share reaching $1.10, exceeding analysts' expectations.

TIAA Trust National Association lowered its position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 87.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,542 shares of the company's stock after selling 43,970 shares during the quarter. TIAA Trust National Association's holdings in monday.com were worth $1,591,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Grove Bank & Trust acquired a new position in shares of monday.com during the first quarter valued at approximately $30,000. First Horizon Advisors Inc. increased its holdings in shares of monday.com by 72.9% in the first quarter. First Horizon Advisors Inc. now owns 166 shares of the company's stock valued at $40,000 after purchasing an additional 70 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of monday.com by 32.7% in the first quarter. Farther Finance Advisors LLC now owns 211 shares of the company's stock valued at $55,000 after purchasing an additional 52 shares during the last quarter. Signaturefd LLC increased its holdings in shares of monday.com by 50.7% in the first quarter. Signaturefd LLC now owns 217 shares of the company's stock valued at $53,000 after purchasing an additional 73 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of monday.com in the first quarter valued at approximately $64,000. Institutional investors and hedge funds own 73.70% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on MNDY shares. Piper Sandler reaffirmed an "overweight" rating and issued a $325.00 price target on shares of monday.com in a report on Friday, June 27th. UBS Group cut their price target on monday.com from $350.00 to $310.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Loop Capital lowered their price objective on monday.com from $385.00 to $375.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. Wells Fargo & Company set a $365.00 price objective on monday.com and gave the stock an "overweight" rating in a research report on Friday, June 13th. Finally, DA Davidson lowered their price objective on monday.com from $350.00 to $290.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $348.09.

monday.com Stock Performance

Shares of MNDY traded up $8.76 during midday trading on Wednesday, hitting $258.72. 1,135,352 shares of the stock were exchanged, compared to its average volume of 783,063. The firm has a market cap of $13.14 billion, a P/E ratio of 264.00, a P/E/G ratio of 90.37 and a beta of 1.27. The stock has a fifty day simple moving average of $292.34 and a 200 day simple moving average of $277.10. monday.com Ltd. has a 52-week low of $202.01 and a 52-week high of $342.64.

monday.com (NASDAQ:MNDY - Get Free Report) last released 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 analyst estimates of $275.93 million. monday.com had a return on equity of 7.87% and a net margin of 5.08%. monday.com's revenue was up 30.2% compared to the same quarter last year. During the same period last year, the business posted $0.61 earnings per share. As a group, equities research analysts forecast that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

monday.com Company Profile

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.