Summit Partners Public Asset Management LLC cut its position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 12.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 150,000 shares of the company's stock after selling 22,263 shares during the quarter. monday.com accounts for about 0.7% of Summit Partners Public Asset Management LLC's investment portfolio, making the stock its 24th largest holding. Summit Partners Public Asset Management LLC owned about 0.31% of monday.com worth $35,316,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. Clearbridge Investments LLC lifted its stake in monday.com by 0.3% during the fourth quarter. Clearbridge Investments LLC now owns 13,501 shares of the company's stock worth $3,179,000 after purchasing an additional 44 shares during the last quarter. Prudential Financial Inc. lifted its stake in monday.com by 1.3% during the fourth quarter. Prudential Financial Inc. now owns 4,122 shares of the company's stock worth $970,000 after purchasing an additional 53 shares during the last quarter. Global Retirement Partners LLC lifted its stake in monday.com by 64.8% during the fourth quarter. Global Retirement Partners LLC now owns 150 shares of the company's stock worth $35,000 after purchasing an additional 59 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in monday.com by 7.6% during the fourth quarter. Venturi Wealth Management LLC now owns 1,076 shares of the company's stock worth $253,000 after purchasing an additional 76 shares during the last quarter. Finally, Vestcor Inc lifted its stake in monday.com by 16.0% during the fourth quarter. Vestcor Inc now owns 602 shares of the company's stock worth $142,000 after purchasing an additional 83 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors.
monday.com Stock Up 0.1%
NASDAQ:MNDY opened at $293.13 on Friday. monday.com Ltd. has a 52-week low of $188.01 and a 52-week high of $342.64. The firm has a market cap of $14.88 billion, a P/E ratio of 488.55, a PEG ratio of 16.53 and a beta of 1.32. The business's 50-day moving average price is $259.42 and its 200 day moving average price is $265.39.
monday.com (NASDAQ:MNDY - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $275.93 million. During the same quarter last year, the company posted $0.61 EPS. monday.com's revenue for the quarter was up 30.2% on a year-over-year basis. Sell-side analysts expect that monday.com Ltd. will post 0.46 EPS for the current year.
Wall Street Analyst Weigh In
Several brokerages have weighed in on MNDY. The Goldman Sachs Group increased their target price on monday.com from $350.00 to $400.00 and gave the stock a "buy" rating in a research report on Tuesday, February 11th. Wells Fargo & Company increased their target price on monday.com from $310.00 to $335.00 and gave the stock an "overweight" rating in a research report on Tuesday. Canaccord Genuity Group dropped their target price on monday.com from $375.00 to $350.00 and set a "buy" rating on the stock in a research report on Tuesday. JPMorgan Chase & Co. dropped their target price on monday.com from $400.00 to $350.00 and set an "overweight" rating on the stock in a research report on Tuesday, May 6th. Finally, DA Davidson dropped their target price on monday.com from $350.00 to $290.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Three analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $346.50.
Get Our Latest Stock Analysis on monday.com
About monday.com
(
Free Report)
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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