Seven Eight Capital LP Reduces Stake in monday.com Ltd. (NASDAQ:MNDY)

Seven Eight Capital LP cut its holdings in shares of monday.com Ltd. (NASDAQ:MNDY) by 5.0% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,281 shares of the company’s stock after selling 67 shares during the quarter. Seven Eight Capital LP’s holdings in monday.com were worth $308,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Ridgewood Investments LLC purchased a new position in shares of monday.com during the second quarter worth $45,000. Gilliland Jeter Wealth Management LLC lifted its holdings in shares of monday.com by 72.9% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after buying an additional 102 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in shares of monday.com by 2.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 34,044 shares of the company’s stock worth $65,000 after buying an additional 691 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in monday.com during the second quarter worth about $69,000. Finally, PNC Financial Services Group Inc. raised its position in monday.com by 373.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 393 shares of the company’s stock valued at $74,000 after acquiring an additional 310 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

monday.com Trading Up 2.1 %

Shares of NASDAQ MNDY opened at $280.17 on Monday. The stock has a market cap of $13.53 billion, a PE ratio of 737.29, a P/E/G ratio of 12.23 and a beta of 1.32. monday.com Ltd. has a 12-month low of $122.13 and a 12-month high of $281.26. The company has a 50-day moving average of $245.95 and a 200 day moving average of $227.15.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.23. monday.com had a return on equity of 4.74% and a net margin of 4.88%. The business had revenue of $236.11 million during the quarter, compared to analyst estimates of $227.96 million. On average, sell-side analysts forecast that monday.com Ltd. will post 0.49 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

MNDY has been the topic of several recent research reports. Bank of America upped their price objective on monday.com from $280.00 to $300.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. TD Cowen lifted their price objective on shares of monday.com from $275.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Needham & Company LLC increased their target price on shares of monday.com from $250.00 to $300.00 and gave the stock a “buy” rating in a research note on Monday, August 12th. Canaccord Genuity Group lifted their price target on monday.com from $250.00 to $295.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Finally, Wolfe Research started coverage on monday.com in a report on Tuesday, July 9th. They issued an “outperform” rating and a $300.00 price target for the company. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, monday.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $285.79.

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.