Victory Capital Management Inc. Sells 68 Shares of monday.com Ltd. (NASDAQ:MNDY)

Victory Capital Management Inc. trimmed its position in monday.com Ltd. (NASDAQ:MNDY) by 1.2% in the third quarter, according to its most recent filing with the SEC. The fund owned 5,609 shares of the company’s stock after selling 68 shares during the period. Victory Capital Management Inc.’s holdings in monday.com were worth $1,558,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mercer Global Advisors Inc. ADV raised its stake in shares of monday.com by 4.4% during the second quarter. Mercer Global Advisors Inc. ADV now owns 1,124 shares of the company’s stock valued at $271,000 after acquiring an additional 47 shares during the last quarter. Crossmark Global Holdings Inc. lifted its stake in monday.com by 4.0% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 1,303 shares of the company’s stock valued at $314,000 after acquiring an additional 50 shares in the last quarter. FDx Advisors Inc. lifted its position in shares of monday.com by 4.7% during the 2nd quarter. FDx Advisors Inc. now owns 2,000 shares of the company’s stock worth $482,000 after buying an additional 90 shares in the last quarter. Oppenheimer Asset Management Inc. grew its stake in monday.com by 4.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,065 shares of the company’s stock valued at $497,000 after purchasing an additional 91 shares during the period. Finally, American International Group Inc. raised its position in monday.com by 2.3% in the first quarter. American International Group Inc. now owns 4,550 shares of the company’s stock worth $1,028,000 after acquiring an additional 102 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MNDY. UBS Group increased their price objective on monday.com from $240.00 to $280.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Piper Sandler upped their price target on shares of monday.com from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, November 11th. Citigroup raised their target price on shares of monday.com from $296.00 to $327.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Barclays raised their price target on monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 1st. Finally, Scotiabank began coverage on monday.com in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $325.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $310.81.

monday.com Price Performance

NASDAQ MNDY opened at $296.10 on Tuesday. The business has a 50 day simple moving average of $282.80 and a two-hundred day simple moving average of $252.52. monday.com Ltd. has a 1-year low of $170.00 and a 1-year high of $324.99. The stock has a market capitalization of $14.30 billion, a PE ratio of 722.20, a P/E/G ratio of 7.93 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. The business had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The company’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 earnings per share. On average, analysts anticipate that monday.com Ltd. will post 0.85 EPS for the current fiscal year.

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.