monday.com Ltd. (NASDAQ:MNDY) Stake Reduced by Savoie Capital LLC

Savoie Capital LLC trimmed its stake in monday.com Ltd. (NASDAQ:MNDY) by 31.3% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 2,200 shares of the company’s stock after selling 1,000 shares during the quarter. Savoie Capital LLC’s holdings in monday.com were worth $530,000 as of its most recent filing with the SEC.

Other hedge funds also recently added to or reduced their stakes in the company. Principal Financial Group Inc. increased its holdings in shares of monday.com by 13.8% in the 4th quarter. Principal Financial Group Inc. now owns 1,914 shares of the company’s stock worth $359,000 after acquiring an additional 232 shares during the period. Norges Bank acquired a new stake in shares of monday.com in the fourth quarter valued at approximately $57,754,000. Assetmark Inc. raised its holdings in shares of monday.com by 11.1% during the fourth quarter. Assetmark Inc. now owns 5,277 shares of the company’s stock valued at $991,000 after buying an additional 527 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of monday.com by 22.4% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 7,100 shares of the company’s stock worth $1,333,000 after buying an additional 1,300 shares during the period. Finally, Intech Investment Management LLC bought a new position in monday.com in the 4th quarter worth approximately $324,000. 73.70% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Canaccord Genuity Group lifted their target price on monday.com from $250.00 to $295.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Piper Sandler restated an “overweight” rating and set a $300.00 price objective (up from $270.00) on shares of monday.com in a research note on Monday, August 12th. Barclays increased their target price on shares of monday.com from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. JPMorgan Chase & Co. boosted their price target on shares of monday.com from $270.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Finally, KeyCorp reduced their price target on shares of monday.com from $280.00 to $270.00 and set an “overweight” rating for the company in a research note on Tuesday, July 2nd. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $285.79.

monday.com Stock Down 0.8 %

NASDAQ:MNDY opened at $277.93 on Tuesday. The stock has a fifty day simple moving average of $246.78 and a 200 day simple moving average of $227.53. The firm has a market capitalization of $13.42 billion, a price-to-earnings ratio of 731.39, a price-to-earnings-growth ratio of 12.23 and a beta of 1.32. monday.com Ltd. has a 1-year low of $122.13 and a 1-year high of $281.26.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, August 12th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.23. monday.com had a net margin of 4.88% and a return on equity of 4.74%. The business had revenue of $236.11 million for the quarter, compared to the consensus estimate of $227.96 million. 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.