abrdn plc Purchases Shares of 968 monday.com Ltd. (NASDAQ:MNDY)

abrdn plc acquired a new position in shares of monday.com Ltd. (NASDAQ:MNDY) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 968 shares of the company’s stock, valued at approximately $269,000.

Other large investors also recently made changes to their positions in the company. Autumn Glory Partners LLC bought a new stake in shares of monday.com in the 3rd quarter valued at about $291,000. Manchester Financial Inc. acquired a new position in monday.com during the third quarter worth approximately $201,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in monday.com in the third quarter valued at approximately $43,000. Lake Street Advisors Group LLC acquired a new stake in shares of monday.com in the third quarter valued at approximately $590,000. Finally, Assenagon Asset Management S.A. boosted its stake in shares of monday.com by 5.6% during the 3rd quarter. Assenagon Asset Management S.A. now owns 63,262 shares of the company’s stock worth $17,572,000 after acquiring an additional 3,357 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the company. Citigroup raised their price target on monday.com from $296.00 to $327.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Oppenheimer raised their target price on shares of monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price target on shares of monday.com in a research note on Thursday, September 26th. Wells Fargo & Company raised their price objective on shares of monday.com from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday. Finally, Canaccord Genuity Group upped their target price on monday.com from $250.00 to $295.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Five analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, monday.com has an average rating of “Moderate Buy” and an average target price of $306.10.

monday.com Price Performance

Shares of NASDAQ:MNDY opened at $296.95 on Wednesday. monday.com Ltd. has a 1 year low of $128.62 and a 1 year high of $306.80. The stock has a market capitalization of $14.34 billion, a price-to-earnings ratio of 371.19, a price-to-earnings-growth ratio of 14.06 and a beta of 1.31. The company’s 50 day simple moving average is $274.68 and its 200 day simple moving average is $242.54.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, beating 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 company had revenue of $236.11 million for the quarter, compared to analyst estimates of $227.96 million. As a group, analysts anticipate that monday.com Ltd. will post 0.5 EPS for the current fiscal 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.