Principal Financial Group Inc. Increases Stake in monday.com Ltd. (NASDAQ:MNDY)

Principal Financial Group Inc. increased its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 35.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,306 shares of the company’s stock after buying an additional 14,059 shares during the period. Principal Financial Group Inc. owned about 0.11% of monday.com worth $14,807,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MNDY. Clearbridge Investments LLC grew its stake in monday.com by 2,851.5% in the first quarter. Clearbridge Investments LLC now owns 344,525 shares of the company’s stock valued at $77,818,000 after purchasing an additional 332,852 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in monday.com by 431.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock valued at $107,176,000 after acquiring an additional 313,279 shares in the last quarter. Renaissance Technologies LLC raised its position in monday.com by 20.2% during the second quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock valued at $270,299,000 after acquiring an additional 188,800 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of monday.com by 171.3% in the second quarter. Bank of New York Mellon Corp now owns 273,877 shares of the company’s stock valued at $65,938,000 after buying an additional 172,919 shares in the last quarter. Finally, 1832 Asset Management L.P. increased its position in shares of monday.com by 34.4% in the second quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock valued at $160,707,000 after buying an additional 170,800 shares in the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on monday.com from $270.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Wells Fargo & Company boosted their price objective on monday.com from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Piper Sandler upped their price target on monday.com from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Robert W. Baird increased their target price on monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Canaccord Genuity Group upped their price target on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $310.10.

monday.com Trading Down 2.2 %

Shares of MNDY stock opened at $262.89 on Friday. The business’s 50 day moving average is $280.53 and its two-hundred day moving average is $248.14. monday.com Ltd. has a twelve month low of $166.86 and a twelve month high of $324.99. The company has a market capitalization of $12.69 billion, a P/E ratio of 641.20, a price-to-earnings-growth ratio of 12.55 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The firm had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. During the same period in the previous year, the business earned $0.15 earnings per share. The company’s revenue for the quarter was up 49.5% compared to the same quarter last year. As a group, equities analysts predict that monday.com Ltd. will post 0.5 earnings per share 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.