Migdal Insurance & Financial Holdings Ltd. Cuts Position in monday.com Ltd. (NASDAQ:MNDY)

Migdal Insurance & Financial Holdings Ltd. cut its stake in monday.com Ltd. (NASDAQ:MNDY) by 16.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,009 shares of the company’s stock after selling 9,000 shares during the quarter. Migdal Insurance & Financial Holdings Ltd. owned about 0.10% of monday.com worth $10,832,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in MNDY. Avior Wealth Management LLC boosted its position in shares of monday.com by 2.6% in the 3rd quarter. Avior Wealth Management LLC now owns 2,611 shares of the company’s stock worth $725,000 after purchasing an additional 67 shares in the last quarter. Northwest & Ethical Investments L.P. boosted its position in shares of monday.com by 18.2% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company’s stock worth $181,000 after purchasing an additional 100 shares in the last quarter. Choreo LLC boosted its position in shares of monday.com by 3.8% in the 4th quarter. Choreo LLC now owns 3,005 shares of the company’s stock worth $707,000 after purchasing an additional 111 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of monday.com by 74.5% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 274 shares of the company’s stock worth $64,000 after purchasing an additional 117 shares in the last quarter. Finally, Vestcor Inc boosted its position in shares of monday.com by 31.4% in the 3rd quarter. Vestcor Inc now owns 519 shares of the company’s stock worth $144,000 after purchasing an additional 124 shares in the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

monday.com Stock Up 2.3 %

NASDAQ MNDY opened at $265.33 on Friday. monday.com Ltd. has a 52-week low of $174.75 and a 52-week high of $324.99. The business’s 50-day moving average price is $249.87 and its 200 day moving average price is $260.86. The firm has a market cap of $12.81 billion, a P/E ratio of 647.15, a P/E/G ratio of 7.12 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $246.17 million. During the same quarter last year, the company posted $0.15 earnings per share. The business’s revenue was up 49.5% on a year-over-year basis. As a group, analysts anticipate that monday.com Ltd. will post 0.85 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MNDY. Citigroup raised monday.com from a “neutral” rating to a “buy” rating and lowered their price target for the stock from $302.00 to $298.00 in a research report on Thursday, January 16th. Oppenheimer lifted their price target on monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. William Blair reaffirmed an “outperform” rating on shares of monday.com in a research report on Wednesday, December 18th. Robert W. Baird lifted their price target on monday.com from $270.00 to $275.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 21st. Finally, Canaccord Genuity Group lifted their price target on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Five equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $310.68.

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.