Victory Capital Management Inc. Decreases Holdings in monday.com Ltd. (NASDAQ:MNDY)

Victory Capital Management Inc. lessened its holdings in monday.com Ltd. (NASDAQ:MNDY) by 1.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 5,609 shares of the company’s stock after selling 68 shares during the period. Victory Capital Management Inc.’s holdings in monday.com were worth $1,558,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Sumitomo Mitsui Trust Group Inc. lifted its position in monday.com by 3.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,691 shares of the company’s stock worth $18,525,000 after acquiring an additional 2,085 shares during the period. Rakuten Securities Inc. grew its position in monday.com by 3.6% during the 3rd quarter. Rakuten Securities Inc. now owns 9,299 shares of the company’s stock worth $2,583,000 after purchasing an additional 319 shares during the period. Entropy Technologies LP purchased a new position in shares of monday.com during the 3rd quarter valued at about $349,000. Venturi Wealth Management LLC lifted its holdings in shares of monday.com by 83.8% in the 3rd quarter. Venturi Wealth Management LLC now owns 1,000 shares of the company’s stock valued at $278,000 after buying an additional 456 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its position in monday.com by 12.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 15,691 shares of the company’s stock valued at $4,358,000 after acquiring an additional 1,700 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

monday.com Price Performance

MNDY stock opened at $296.10 on Tuesday. monday.com Ltd. has a 1 year low of $170.00 and a 1 year high of $324.99. The firm has a market capitalization of $14.30 billion, a PE ratio of 722.20, a price-to-earnings-growth ratio of 7.93 and a beta of 1.31. The business has a 50 day simple moving average of $282.80 and a 200-day simple moving average of $252.52.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The company had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $246.17 million. During the same period in the prior year, the business earned $0.15 EPS. The firm’s quarterly revenue was up 49.5% on a year-over-year basis. On average, equities research analysts expect that monday.com Ltd. will post 0.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MNDY. UBS Group boosted their target price on shares of monday.com from $240.00 to $280.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Needham & Company LLC raised their target price on monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Robert W. Baird upped their price target on monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Tigress Financial raised their price objective on monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Citigroup upped their target price on monday.com from $296.00 to $327.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $310.81.

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.