Principal Financial Group Inc. boosted its position in monday.com Ltd. (NASDAQ:MNDY – Free Report) by 35.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,306 shares of the company’s stock after purchasing an additional 14,059 shares during the quarter. Principal Financial Group Inc. owned approximately 0.11% of monday.com worth $14,807,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of monday.com during the third quarter valued at approximately $43,000. Toronto Dominion Bank purchased a new position in monday.com during the second quarter valued at $120,000. Vestcor Inc raised its stake in monday.com by 31.4% during the third quarter. Vestcor Inc now owns 519 shares of the company’s stock valued at $144,000 after buying an additional 124 shares during the last quarter. Larson Financial Group LLC boosted its holdings in monday.com by 645.7% in the third quarter. Larson Financial Group LLC now owns 604 shares of the company’s stock worth $168,000 after acquiring an additional 523 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. grew its stake in shares of monday.com by 18.2% in the third quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company’s stock worth $181,000 after acquiring an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on MNDY. Robert W. Baird upped their price target on shares of monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a research note on Tuesday, November 12th. Canaccord Genuity Group upped their target price on shares of monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Capital One Financial assumed coverage on shares of monday.com in a research report on Thursday, October 10th. They set an “overweight” rating and a $325.00 price target for the company. DA Davidson restated a “neutral” rating and issued a $300.00 price objective on shares of monday.com in a report on Tuesday, November 12th. Finally, William Blair reiterated an “outperform” rating on shares of monday.com in a research note on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, monday.com presently has an average rating of “Moderate Buy” and an average target price of $309.14.
monday.com Price Performance
NASDAQ:MNDY opened at $233.22 on Friday. The firm has a market capitalization of $11.26 billion, a price-to-earnings ratio of 568.83, a price-to-earnings-growth ratio of 7.61 and a beta of 1.25. The business has a fifty day moving average price of $276.93 and a 200-day moving average price of $259.34. monday.com Ltd. has a one year low of $170.00 and a one year high of $324.99.
monday.com (NASDAQ:MNDY – Get Free Report) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.61 by $0.24. The firm 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 business’s revenue for the quarter was up 49.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 earnings per share. On average, equities research analysts expect that monday.com Ltd. will post 0.85 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.
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