Rhumbline Advisers Has $2.03 Million Holdings in monday.com Ltd. (NASDAQ:MNDY)

Rhumbline Advisers increased its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 25.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,446 shares of the company’s stock after purchasing an additional 1,701 shares during the period. Rhumbline Advisers’ holdings in monday.com were worth $2,033,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MNDY. WCM Investment Management LLC acquired a new stake in shares of monday.com during the first quarter worth $728,521,000. Baillie Gifford & Co. acquired a new stake in shares of monday.com during the first quarter worth $76,534,000. Clearbridge Investments LLC grew its stake in shares of monday.com by 2,851.5% during the first quarter. Clearbridge Investments LLC now owns 344,525 shares of the company’s stock worth $77,818,000 after purchasing an additional 332,852 shares during the period. Westfield Capital Management Co. LP acquired a new stake in shares of monday.com during the fourth quarter worth $58,689,000. Finally, Norges Bank acquired a new position in monday.com in the fourth quarter valued at about $57,754,000. 73.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on MNDY. Tigress Financial boosted their target price on monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. The Goldman Sachs Group boosted their target price on monday.com from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. William Blair reissued an “outperform” rating on shares of monday.com in a research note on Monday, June 24th. Piper Sandler reissued an “overweight” rating and issued a $300.00 target price (up from $270.00) on shares of monday.com in a research note on Monday, August 12th. Finally, Baird R W raised monday.com to a “hold” rating in a research note on Tuesday, July 23rd. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $285.79.

monday.com Stock Performance

MNDY opened at $274.33 on Friday. monday.com Ltd. has a 52-week low of $122.13 and a 52-week high of $277.94. The firm has a market capitalization of $13.24 billion, a PE ratio of 721.92, a PEG ratio of 12.23 and a beta of 1.32. The business’s 50-day simple moving average is $244.12 and its 200 day simple moving average is $226.40.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.23. monday.com had a return on equity of 4.74% and a net margin of 4.88%. The business had revenue of $236.11 million for the quarter, compared to analyst estimates of $227.96 million. On average, research analysts forecast that monday.com Ltd. will post 0.49 earnings per share for the current year.

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.