Deutsche Bank AG Acquires 8,353 Shares of monday.com Ltd. (NASDAQ:MNDY)

Deutsche Bank AG raised its holdings in monday.com Ltd. (NASDAQ:MNDY) by 16.4% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 59,143 shares of the company’s stock after acquiring an additional 8,353 shares during the quarter. Deutsche Bank AG owned approximately 0.12% of monday.com worth $14,381,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Rubicon Global Capital Ltd bought a new position in monday.com during the first quarter worth $137,434,000. T. Rowe Price Investment Management Inc. acquired a new stake in monday.com during the 4th quarter worth about $109,605,000. Assenagon Asset Management S.A. raised its position in shares of monday.com by 754.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 440,622 shares of the company’s stock worth $107,142,000 after acquiring an additional 389,073 shares in the last quarter. BNP Paribas Financial Markets bought a new position in shares of monday.com in the 4th quarter worth about $65,898,000. Finally, Man Group plc lifted its stake in shares of monday.com by 162.5% in the 4th quarter. Man Group plc now owns 316,190 shares of the company’s stock valued at $74,444,000 after purchasing an additional 195,741 shares during the period. Institutional investors own 73.70% of the company’s stock.

monday.com Trading Down 0.9%

Shares of NASDAQ:MNDY opened at $176.92 on Friday. The stock has a market cap of $8.98 billion, a PE ratio of 239.08, a price-to-earnings-growth ratio of 6.00 and a beta of 1.27. The stock’s fifty day simple moving average is $279.31 and its two-hundred day simple moving average is $274.98. monday.com Ltd. has a 1-year low of $171.54 and a 1-year high of $342.64.

monday.com (NASDAQ:MNDY) last announced its earnings results on Monday, August 11th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.84 by $0.25. monday.com had a net margin of 3.63% and a return on equity of 6.32%. The company had revenue of $299.01 million during the quarter, compared to the consensus estimate of $293.60 million. During the same quarter in the prior year, the company posted $0.94 earnings per share. The firm’s revenue for the quarter was up 26.6% on a year-over-year basis. On average, sell-side analysts forecast that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on MNDY shares. Canaccord Genuity Group decreased their target price on monday.com from $350.00 to $255.00 and set a “buy” rating for the company in a research note on Tuesday. Bank of America cut their price target on monday.com from $340.00 to $240.00 and set a “buy” rating on the stock in a report on Tuesday. Piper Sandler lowered their price objective on shares of monday.com from $325.00 to $300.00 and set an “overweight” rating for the company in a research note on Tuesday. KeyCorp reissued an “overweight” rating and set a $330.00 target price on shares of monday.com in a research note on Monday. Finally, UBS Group reduced their price target on shares of monday.com from $310.00 to $215.00 and set a “neutral” rating for the company in a report on Tuesday. Two investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $305.18.

About monday.com

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.