Whale Rock Capital Management LLC Trims Position in monday.com Ltd. (NASDAQ:MNDY)

Whale Rock Capital Management LLC reduced its stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 1.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 394,928 shares of the company's stock after selling 7,519 shares during the period. Whale Rock Capital Management LLC owned 0.82% of monday.com worth $92,982,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Stonebridge Financial Group LLC purchased a new position in shares of monday.com in the 4th quarter worth about $25,000. Arcadia Investment Management Corp MI purchased a new stake in shares of monday.com during the fourth quarter valued at $28,000. R Squared Ltd bought a new stake in monday.com in the 4th quarter worth about $33,000. Signaturefd LLC lifted its stake in monday.com by 157.1% during the 4th quarter. Signaturefd LLC now owns 144 shares of the company's stock valued at $34,000 after acquiring an additional 88 shares during the period. Finally, Global Retirement Partners LLC boosted its holdings in shares of monday.com by 64.8% during the 4th quarter. Global Retirement Partners LLC now owns 150 shares of the company's stock valued at $35,000 after acquiring an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company's stock.

monday.com Price Performance

MNDY stock opened at $290.10 on Tuesday. monday.com Ltd. has a 1-year low of $188.01 and a 1-year high of $342.64. The business has a 50-day moving average price of $260.22 and a 200 day moving average price of $264.88. The company has a market capitalization of $14.73 billion, a P/E ratio of 483.50, a PEG ratio of 16.53 and a beta of 1.32.

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 the consensus estimate of $0.70 by $0.40. monday.com had a return on equity of 6.22% and a net margin of 3.33%. The business had revenue of $282.25 million for the quarter, compared to analysts' expectations of $275.93 million. During the same quarter last year, the firm earned $0.61 EPS. The business's revenue for the quarter was up 30.2% on a year-over-year basis. On average, analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on MNDY shares. Canaccord Genuity Group cut their price objective on monday.com from $375.00 to $350.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. KeyCorp upgraded monday.com from a "sector weight" rating to an "overweight" rating and set a $420.00 target price for the company in a research report on Tuesday, February 11th. DA Davidson dropped their price target on monday.com from $350.00 to $290.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Piper Sandler boosted their target price on shares of monday.com from $305.00 to $325.00 and gave the stock an "overweight" rating in a report on Monday, May 12th. Finally, Loop Capital lowered their price target 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. Three investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $346.50.

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.

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