Lazard Asset Management LLC Sells 2,423 Shares of monday.com Ltd. (NASDAQ:MNDY)

Lazard Asset Management LLC cut its holdings in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 13.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,003 shares of the company's stock after selling 2,423 shares during the quarter. Lazard Asset Management LLC's holdings in monday.com were worth $3,532,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in MNDY. FMR LLC lifted its stake in monday.com by 78.7% in the fourth quarter. FMR LLC now owns 2,701,952 shares of the company's stock valued at $636,147,000 after acquiring an additional 1,189,858 shares during the last quarter. Norges Bank acquired a new stake in monday.com in the fourth quarter valued at approximately $116,686,000. T. Rowe Price Investment Management Inc. acquired a new stake in monday.com in the fourth quarter valued at approximately $109,605,000. SG Americas Securities LLC lifted its stake in monday.com by 1,024.7% in the fourth quarter. SG Americas Securities LLC now owns 476,392 shares of the company's stock valued at $112,162,000 after acquiring an additional 434,035 shares during the last quarter. Finally, CIBC Private Wealth Group LLC lifted its stake in monday.com by 264.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company's stock valued at $126,407,000 after acquiring an additional 403,255 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

monday.com Trading Up 4.1%

NASDAQ MNDY traded up $11.97 on Tuesday, hitting $302.07. 695,678 shares of the company were exchanged, compared to its average volume of 770,925. The firm has a 50 day moving average of $260.22 and a two-hundred day moving average of $264.88. The company has a market cap of $15.34 billion, a P/E ratio of 503.45, a P/E/G ratio of 16.53 and a beta of 1.32. monday.com Ltd. has a 1-year low of $188.01 and a 1-year 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. monday.com had a net margin of 3.33% and a return on equity of 6.22%. The company had revenue of $282.25 million for the quarter, compared to the consensus estimate of $275.93 million. During the same period in the prior year, the company posted $0.61 EPS. The company's revenue was up 30.2% compared to the same quarter last year. Research analysts anticipate that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. UBS Group reduced their target price on shares of monday.com from $350.00 to $310.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. Cantor Fitzgerald lifted their target price on shares of monday.com from $292.00 to $380.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. DA Davidson reduced their price objective on shares of monday.com from $350.00 to $290.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Jefferies Financial Group reduced their price objective on shares of monday.com from $400.00 to $360.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Wells Fargo & Company boosted their price objective on shares of monday.com from $310.00 to $335.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Three research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.