McAdam LLC Reduces Stock Position in monday.com Ltd. (NASDAQ:MNDY)

McAdam LLC lessened its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 10.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,281 shares of the company’s stock after selling 258 shares during the quarter. McAdam LLC’s holdings in monday.com were worth $634,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in monday.com by 1.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,164,566 shares of the company’s stock valued at $714,781,000 after buying an additional 31,304 shares during the period. Renaissance Technologies LLC grew its holdings in monday.com by 20.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock valued at $270,299,000 after buying an additional 188,800 shares during the period. Jennison Associates LLC grew its holdings in monday.com by 12.1% in the 1st quarter. Jennison Associates LLC now owns 782,154 shares of the company’s stock valued at $176,665,000 after buying an additional 84,182 shares during the period. 1832 Asset Management L.P. grew its holdings in monday.com by 34.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock valued at $160,707,000 after buying an additional 170,800 shares during the period. Finally, Eminence Capital LP grew its holdings in monday.com by 1.4% in the 2nd quarter. Eminence Capital LP now owns 470,717 shares of the company’s stock valued at $113,330,000 after buying an additional 6,349 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on MNDY shares. Bank of America lifted their price target on monday.com from $280.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Piper Sandler lifted their price objective on monday.com from $300.00 to $340.00 and gave the company an “overweight” rating in a research note on Monday. The Goldman Sachs Group lifted their price objective on monday.com from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Baird R W raised monday.com to a “hold” rating in a research note on Tuesday, July 23rd. Finally, Wolfe Research initiated coverage on monday.com in a research note on Tuesday, July 9th. They issued an “outperform” rating and a $300.00 price objective on the stock. Five investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, monday.com currently has a consensus rating of “Moderate Buy” and a consensus target price of $303.35.

monday.com Trading Up 5.2 %

Shares of NASDAQ MNDY opened at $297.27 on Friday. monday.com Ltd. has a twelve month low of $122.13 and a twelve month high of $297.27. The company has a market capitalization of $14.35 billion, a price-to-earnings ratio of 782.29, a price-to-earnings-growth ratio of 13.68 and a beta of 1.32. The business has a 50 day simple moving average of $269.32 and a 200-day simple moving average of $236.51.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, August 12th. The company reported $0.24 earnings per share 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 the consensus estimate of $227.96 million. As a group, equities analysts predict that monday.com Ltd. will post 0.49 earnings per share for the current year.

monday.com Company 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.