Valliance Asset Management Ltd Purchases New Position in monday.com Ltd. (NASDAQ:MNDY)

Key Points

• Valliance Asset Management Ltd has acquired a new position in monday.com Ltd., purchasing 3,000 shares valued at approximately $729,000, making it the 15th largest position in their portfolio.
• monday.com reported a 30.2% year-over-year revenue increase with earnings of $1.10 per share, significantly beating analyst expectations of $0.70 per share.
• Several analysts have lowered their price targets for monday.com, leading to a consensus rating of "Moderate Buy" with a price target of $349.23.

Valliance Asset Management Ltd acquired a new position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 3,000 shares of the company's stock, valued at approximately $729,000. monday.com comprises approximately 1.7% of Valliance Asset Management Ltd's portfolio, making the stock its 15th largest holding.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Grove Bank & Trust bought a new stake in monday.com during the 1st quarter worth $30,000. First Horizon Advisors Inc. grew its position in shares of monday.com by 72.9% in the 1st quarter. First Horizon Advisors Inc. now owns 166 shares of the company's stock valued at $40,000 after buying an additional 70 shares during the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of monday.com in the 4th quarter valued at about $44,000. Farther Finance Advisors LLC grew its position in shares of monday.com by 32.7% in the 1st quarter. Farther Finance Advisors LLC now owns 211 shares of the company's stock valued at $55,000 after buying an additional 52 shares during the last quarter. Finally, Signaturefd LLC boosted its position in shares of monday.com by 50.7% during the 1st quarter. Signaturefd LLC now owns 217 shares of the company's stock valued at $53,000 after purchasing an additional 73 shares in the last quarter. Institutional investors own 73.70% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on MNDY. Wells Fargo & Company set a $365.00 target price on monday.com and gave the company an "overweight" rating in a research report on Friday, June 13th. JPMorgan Chase & Co. lowered their price objective on monday.com from $400.00 to $350.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Canaccord Genuity Group decreased their price target on monday.com from $375.00 to $350.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. UBS Group reduced their price objective on monday.com from $350.00 to $310.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th. Finally, Barclays reduced their price objective on monday.com from $360.00 to $345.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Four analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $349.23.

monday.com Stock Down 4.6%

Shares of monday.com stock traded down $12.04 during trading on Friday, hitting $250.26. 897,990 shares of the stock traded hands, compared to its average volume of 778,268. The stock has a market cap of $12.71 billion, a price-to-earnings ratio of 256.21, a PEG ratio of 100.50 and a beta of 1.30. The firm's fifty day moving average is $294.87 and its 200-day moving average is $276.48. monday.com Ltd. has a 52 week low of $188.01 and a 52 week high of $342.64.

monday.com (NASDAQ:MNDY - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.70 by $0.40. The firm had revenue of $282.25 million for the quarter, compared to the consensus estimate of $275.93 million. monday.com had a return on equity of 7.87% and a net margin of 5.08%. The company's quarterly revenue was up 30.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.61 earnings per share. On average, analysts forecast 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.