Choreo LLC Invests $699,000 in monday.com Ltd. (NASDAQ:MNDY)

Choreo LLC bought a new stake in monday.com Ltd. (NASDAQ:MNDY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,913 shares of the company’s stock, valued at approximately $699,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Ridgewood Investments LLC purchased a new stake in monday.com during the second quarter worth approximately $45,000. Gilliland Jeter Wealth Management LLC raised its holdings in monday.com by 72.9% during the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock worth $58,000 after purchasing an additional 102 shares in the last quarter. Opal Wealth Advisors LLC purchased a new stake in shares of monday.com during the 2nd quarter worth approximately $69,000. PNC Financial Services Group Inc. boosted its holdings in shares of monday.com by 373.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 393 shares of the company’s stock valued at $74,000 after buying an additional 310 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. grew its position in shares of monday.com by 741.7% in the 1st quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock valued at $91,000 after buying an additional 356 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

monday.com Stock Down 1.3 %

Shares of monday.com stock opened at $255.73 on Friday. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 672.99, a price-to-earnings-growth ratio of 12.23 and a beta of 1.32. monday.com Ltd. has a 52-week low of $122.13 and a 52-week high of $272.77. The company’s 50-day simple moving average is $242.79 and its 200-day simple moving average is $225.55.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.23. monday.com had a return on equity of 4.74% and a net margin of 4.88%. The company had revenue of $236.11 million for the quarter, compared to analysts’ expectations of $227.96 million. Equities research analysts anticipate that monday.com Ltd. will post 0.49 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of monday.com from $270.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Wolfe Research began coverage on monday.com in a research report on Tuesday, July 9th. They issued an “outperform” rating and a $300.00 target price for the company. Loop Capital lifted their price target on monday.com from $245.00 to $285.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Tigress Financial boosted their price objective on monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Barclays raised their target price on shares of monday.com from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $285.79.

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.