Allspring Global Investments Holdings LLC Buys 313,279 Shares of monday.com Ltd. (NASDAQ:MNDY)

Allspring Global Investments Holdings LLC raised its stake in monday.com Ltd. (NASDAQ:MNDY) by 431.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 385,843 shares of the company’s stock after buying an additional 313,279 shares during the period. Allspring Global Investments Holdings LLC owned about 0.80% of monday.com worth $107,176,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Sei Investments Co. increased its position in shares of monday.com by 63.9% during the first quarter. Sei Investments Co. now owns 107,331 shares of the company’s stock worth $24,243,000 after buying an additional 41,840 shares during the period. Norden Group LLC bought a new position in shares of monday.com in the 1st quarter worth about $840,000. Bessemer Group Inc. bought a new position in shares of monday.com in the 1st quarter worth about $1,314,000. Toth Financial Advisory Corp acquired a new position in shares of monday.com in the 1st quarter valued at about $782,000. Finally, Swiss National Bank boosted its position in shares of monday.com by 4.1% during the 1st quarter. Swiss National Bank now owns 86,400 shares of the company’s stock valued at $19,515,000 after purchasing an additional 3,400 shares in the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Price Performance

MNDY opened at $287.31 on Monday. The firm’s fifty day moving average price is $267.70 and its two-hundred day moving average price is $235.14. The company has a market capitalization of $13.87 billion, a price-to-earnings ratio of 756.08, a P/E/G ratio of 13.68 and a beta of 1.32. monday.com Ltd. has a 1 year low of $122.13 and a 1 year high of $293.88.

monday.com (NASDAQ:MNDY) last released its quarterly 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. The business had revenue of $236.11 million for the quarter, compared to analysts’ expectations of $227.96 million. monday.com had a net margin of 4.88% and a return on equity of 4.74%. As a group, equities analysts anticipate that monday.com Ltd. will post 0.49 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on MNDY shares. DA Davidson lifted their target price on monday.com from $250.00 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Canaccord Genuity Group boosted their target price on shares of monday.com from $250.00 to $295.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Bank of America raised their price target on shares of monday.com from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. The Goldman Sachs Group upped their price objective on shares of monday.com from $300.00 to $340.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Finally, UBS Group raised their target price on monday.com from $240.00 to $280.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $297.60.

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.