Price T Rowe Associates Inc. MD Increases Position in monday.com Ltd. (NASDAQ:MNDY)

Price T Rowe Associates Inc. MD increased its stake in monday.com Ltd. (NASDAQ:MNDY) by 1.0% in the 1st quarter, Holdings Channel reports. The fund owned 3,164,566 shares of the company’s stock after buying an additional 31,304 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.07% of monday.com worth $714,781,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Hood River Capital Management LLC purchased a new position in monday.com in the first quarter worth $4,968,000. Brown Capital Management LLC purchased a new stake in monday.com during the first quarter valued at about $24,046,000. JT Stratford LLC purchased a new stake in monday.com during the first quarter valued at about $264,000. Consolidated Press International Holdings Ltd boosted its position in monday.com by 0.4% during the first quarter. Consolidated Press International Holdings Ltd now owns 44,654 shares of the company’s stock valued at $10,086,000 after buying an additional 189 shares during the period. Finally, Boulder Hill Capital Management LP boosted its position in monday.com by 48.7% during the first quarter. Boulder Hill Capital Management LP now owns 17,400 shares of the company’s stock valued at $3,930,000 after buying an additional 5,700 shares during the period. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on MNDY shares. Baird R W upgraded shares of monday.com to a “hold” rating in a research report on Tuesday, July 23rd. KeyCorp cut 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 report on Tuesday, July 2nd. Canaccord Genuity Group upped their price target on shares of monday.com from $220.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. William Blair restated an “outperform” rating on shares of monday.com in a research report on Monday, June 24th. Finally, Citigroup downgraded shares of monday.com from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $277.00 to $250.00 in a research note on Wednesday, April 10th. Five analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, monday.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $255.53.

monday.com Price Performance

MNDY stock traded up $1.87 during trading on Friday, reaching $237.97. The company had a trading volume of 410,912 shares, compared to its average volume of 407,830. monday.com Ltd. has a 52 week low of $122.13 and a 52 week high of $251.48. The business has a 50 day moving average of $232.16 and a 200 day moving average of $216.78. The company has a market cap of $11.49 billion, a P/E ratio of 626.25, a PEG ratio of 47.59 and a beta of 1.30.

monday.com (NASDAQ:MNDY) last announced its earnings results on Wednesday, May 15th. The company reported $0.14 earnings per share for the quarter, beating analysts’ consensus estimates 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. Research analysts expect that monday.com Ltd. will post 0.12 earnings per share for the current year.

About monday.com

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.