Wasatch Advisors LP Has $30.21 Million Position in monday.com Ltd. (NASDAQ:MNDY)

Wasatch Advisors LP trimmed its holdings in monday.com Ltd. (NASDAQ:MNDY) by 7.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 133,757 shares of the company’s stock after selling 11,427 shares during the quarter. Wasatch Advisors LP’s holdings in monday.com were worth $30,212,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Allspring Global Investments Holdings LLC lifted its stake in shares of monday.com by 4,419.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 60,104 shares of the company’s stock valued at $13,576,000 after purchasing an additional 58,774 shares during the period. Toth Financial Advisory Corp acquired a new position in shares of monday.com in the 1st quarter valued at about $782,000. Artemis Investment Management LLP acquired a new position in shares of monday.com in the 1st quarter valued at about $8,201,000. Counterpoint Mutual Funds LLC acquired a new position in shares of monday.com in the 1st quarter valued at about $286,000. Finally, Park Avenue Securities LLC acquired a new position in shares of monday.com in the 1st quarter valued at about $364,000. 73.70% of the stock is owned by institutional investors and hedge funds.

monday.com Trading Down 1.2 %

Shares of NASDAQ MNDY opened at $237.03 on Wednesday. The firm has a market cap of $11.44 billion, a price-to-earnings ratio of 623.76, a price-to-earnings-growth ratio of 48.15 and a beta of 1.30. monday.com Ltd. has a 1-year low of $122.13 and a 1-year high of $249.00. The stock has a fifty day simple moving average of $216.79 and a two-hundred day simple moving average of $210.69.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Wednesday, May 15th. The company reported $0.14 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.11) by $0.25. The company had revenue of $216.91 million during the quarter, compared to analyst estimates of $210.33 million. monday.com had a return on equity of 2.42% and a net margin of 2.53%. Analysts forecast that monday.com Ltd. will post 0.12 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently commented on MNDY shares. Piper Sandler reaffirmed an “overweight” rating and issued a $270.00 target price (up from $250.00) on shares of monday.com in a research report on Wednesday, May 15th. Canaccord Genuity Group boosted their target price on monday.com from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Tigress Financial boosted their target price on monday.com from $240.00 to $280.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Wells Fargo & Company boosted their target price on monday.com from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Finally, Citigroup lowered monday.com from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $277.00 to $250.00 in a report on Wednesday, April 10th. Three research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, monday.com currently has a consensus rating of “Moderate Buy” and a consensus price target of $253.24.

monday.com 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.