Financial Advocates Investment Management Has $334,000 Position in monday.com Ltd. (NASDAQ:MNDY)

Financial Advocates Investment Management cut its stake in monday.com Ltd. (NASDAQ:MNDY) by 19.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,201 shares of the company’s stock after selling 284 shares during the quarter. Financial Advocates Investment Management’s holdings in monday.com were worth $334,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of monday.com in the third quarter worth $43,000. Ridgewood Investments LLC acquired a new stake in monday.com during the second quarter worth about $45,000. Gilliland Jeter Wealth Management LLC increased its holdings in monday.com by 72.9% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after buying an additional 102 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of monday.com in the 2nd quarter valued at approximately $69,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of monday.com by 373.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 393 shares of the company’s stock worth $74,000 after acquiring an additional 310 shares during the period. 73.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently issued reports on MNDY. Canaccord Genuity Group lifted their price objective on shares of monday.com from $250.00 to $295.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Barclays lifted their price target on monday.com from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Baird R W upgraded monday.com to a “hold” rating in a research report on Tuesday, July 23rd. Citigroup lifted their target price on monday.com from $296.00 to $327.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, The Goldman Sachs Group increased their target price on shares of monday.com from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $303.35.

monday.com Stock Up 1.9 %

Shares of NASDAQ:MNDY opened at $299.55 on Monday. The firm has a market cap of $14.46 billion, a P/E ratio of 374.44, a P/E/G ratio of 13.79 and a beta of 1.31. monday.com Ltd. has a 12-month low of $125.28 and a 12-month high of $306.80. The business has a fifty day simple moving average of $274.03 and a 200 day simple moving average of $241.76.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.23. The company had revenue of $236.11 million during the quarter, compared to the consensus estimate of $227.96 million. monday.com had a return on equity of 4.74% and a net margin of 4.88%. As a group, equities research analysts expect that monday.com Ltd. will post 0.5 EPS for the current year.

monday.com Company 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.