Diversified Trust Co Trims Stake in monday.com Ltd. (NASDAQ:MNDY)

Diversified Trust Co cut its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 29.4% in the first quarter, Holdings Channel.com reports. The firm owned 4,620 shares of the company’s stock after selling 1,924 shares during the quarter. Diversified Trust Co’s holdings in monday.com were worth $1,044,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Jennison Associates LLC purchased a new stake in shares of monday.com in the fourth quarter worth approximately $131,086,000. Westfield Capital Management Co. LP purchased a new stake in monday.com in the fourth quarter worth $58,689,000. Norges Bank bought a new stake in shares of monday.com during the fourth quarter worth $57,754,000. Eventide Asset Management LLC boosted its stake in shares of monday.com by 100.3% during the fourth quarter. Eventide Asset Management LLC now owns 407,870 shares of the company’s stock valued at $76,602,000 after purchasing an additional 204,253 shares during the period. Finally, Polar Capital Holdings Plc grew its holdings in shares of monday.com by 53.0% in the third quarter. Polar Capital Holdings Plc now owns 431,738 shares of the company’s stock worth $68,741,000 after purchasing an additional 149,587 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors.

monday.com Stock Performance

Shares of NASDAQ MNDY opened at $239.97 on Tuesday. monday.com Ltd. has a fifty-two week low of $122.13 and a fifty-two week high of $249.00. The company has a market cap of $11.59 billion, a PE ratio of 631.52, a P/E/G ratio of 48.15 and a beta of 1.30. The business has a 50-day simple moving average of $215.75 and a two-hundred day simple moving average of $210.35.

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

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on MNDY shares. William Blair restated an “outperform” rating on shares of monday.com in a research note on Monday, June 24th. DA Davidson increased their price objective on monday.com from $190.00 to $230.00 and gave the stock a “neutral” rating in a research note on Thursday, May 16th. The Goldman Sachs Group lifted their target price on monday.com from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Tigress Financial increased their price target on monday.com from $240.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Finally, Canaccord Genuity Group lifted their price objective 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. According to MarketBeat, monday.com has an average rating of “Moderate Buy” and an average target price of $253.82.

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.