Royal Bank of Canada boosted its stake in shares of monday.com Ltd. (NASDAQ:MNDY – Free Report) by 88.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,422 shares of the company’s stock after purchasing an additional 14,300 shares during the quarter. Royal Bank of Canada owned about 0.06% of monday.com worth $2,102,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of MNDY. NewEdge Advisors LLC raised its position in shares of monday.com by 2,120.0% in the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after purchasing an additional 106 shares during the period. Advisory Services Network LLC bought a new stake in shares of monday.com during the 3rd quarter worth about $28,000. Quarry LP acquired a new position in monday.com in the 4th quarter valued at about $29,000. Huntington National Bank grew its stake in monday.com by 6,040.0% in the 4th quarter. Huntington National Bank now owns 307 shares of the company’s stock valued at $45,000 after buying an additional 302 shares during the last quarter. Finally, EverSource Wealth Advisors LLC raised its holdings in monday.com by 76.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $47,000 after acquiring an additional 65 shares during the period. 73.70% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on MNDY shares. Jefferies Financial Group restated a “hold” rating and set a $95.00 price objective on shares of monday.com in a research report on Monday, August 10th. Barclays increased their target price on monday.com from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. UBS Group lifted their price target on monday.com from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. Wall Street Zen upgraded monday.com from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Finally, Cantor Fitzgerald lowered monday.com from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $112.00 to $90.00 in a report on Monday, August 10th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, monday.com currently has a consensus rating of “Moderate Buy” and an average price target of $117.91.
monday.com Trading Down 4.8%
Shares of MNDY opened at $83.33 on Tuesday. monday.com Ltd. has a 12 month low of $57.50 and a 12 month high of $220.80. The firm’s 50 day moving average is $80.69 and its 200-day moving average is $77.92. The stock has a market capitalization of $4.26 billion, a PE ratio of 35.46, a P/E/G ratio of 2.21 and a beta of 1.24.
monday.com (NASDAQ:MNDY – Get Free Report) last released its quarterly earnings results on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, beating analysts’ consensus estimates of $1.11 by $0.37. The company had revenue of $364.62 million during the quarter, compared to the consensus estimate of $355.55 million. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The firm’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.09 earnings per share. Equities research analysts predict that monday.com Ltd. will post 2.09 earnings per share for the current fiscal year.
monday.com Profile
monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.
The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.
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