Park Avenue Securities LLC Takes Position in monday.com Ltd. (NASDAQ:MNDY)

Park Avenue Securities LLC purchased a new position in shares of monday.com Ltd. (NASDAQ:MNDY) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 1,613 shares of the company’s stock, valued at approximately $364,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. FMR LLC grew its stake in shares of monday.com by 3,225.7% during the third quarter. FMR LLC now owns 35,020 shares of the company’s stock valued at $5,576,000 after acquiring an additional 33,967 shares in the last quarter. Natixis Advisors L.P. purchased a new stake in monday.com during the 3rd quarter worth approximately $1,678,000. California State Teachers Retirement System raised its position in shares of monday.com by 11.0% in the 3rd quarter. California State Teachers Retirement System now owns 19,387 shares of the company’s stock valued at $3,087,000 after purchasing an additional 1,928 shares in the last quarter. Alps Advisors Inc. boosted its stake in shares of monday.com by 93.0% during the 3rd quarter. Alps Advisors Inc. now owns 20,964 shares of the company’s stock valued at $3,468,000 after buying an additional 10,104 shares during the last quarter. Finally, Kettle Hill Capital Management LLC purchased a new position in shares of monday.com during the 3rd quarter valued at approximately $3,713,000. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $270.00 price target (up from $250.00) on shares of monday.com in a report on Wednesday, May 15th. Citigroup cut shares of monday.com from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $277.00 to $250.00 in a research report on Wednesday, April 10th. DA Davidson boosted their price objective on monday.com from $190.00 to $230.00 and gave the company a “neutral” rating in a report on Thursday, May 16th. Wells Fargo & Company increased their target price on monday.com from $260.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, May 16th. Finally, Canaccord Genuity Group boosted their price target on monday.com from $220.00 to $250.00 and gave the company a “buy” rating in a report on Thursday, May 16th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $253.82.

monday.com Trading Up 1.9 %

Shares of NASDAQ MNDY opened at $240.76 on Monday. monday.com Ltd. has a 12-month low of $122.13 and a 12-month high of $249.00. The company has a market cap of $11.62 billion, a PE ratio of 633.60, a P/E/G ratio of 48.15 and a beta of 1.30. The stock has a 50 day simple moving average of $214.59 and a 200-day simple moving average of $210.01.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Wednesday, May 15th. The company reported $0.14 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.25. The company had revenue of $216.91 million during the quarter, compared to analyst estimates of $210.33 million. monday.com had a return on equity of 2.42% and a net margin of 2.53%. Sell-side analysts forecast that monday.com Ltd. will post 0.12 earnings per share for the current fiscal year.

monday.com 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.