Mediolanum International Funds Ltd Lowers Stock Position in monday.com Ltd. (NASDAQ:MNDY)

Mediolanum International Funds Ltd cut its holdings in shares of monday.com Ltd. (NASDAQ:MNDY) by 19.3% during the first quarter, HoldingsChannel.com reports. The fund owned 3,111 shares of the company’s stock after selling 744 shares during the quarter. Mediolanum International Funds Ltd’s holdings in monday.com were worth $768,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Grove Bank & Trust acquired a new stake in shares of monday.com during the first quarter worth $30,000. First Horizon Advisors Inc. lifted its holdings in shares of monday.com by 72.9% during the first quarter. First Horizon Advisors Inc. now owns 166 shares of the company’s stock worth $40,000 after purchasing an additional 70 shares during the period. Loomis Sayles & Co. L P acquired a new stake in shares of monday.com during the fourth quarter worth $44,000. Signaturefd LLC lifted its holdings in shares of monday.com by 50.7% during the first quarter. Signaturefd LLC now owns 217 shares of the company’s stock worth $53,000 after purchasing an additional 73 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of monday.com by 32.7% during the first quarter. Farther Finance Advisors LLC now owns 211 shares of the company’s stock worth $55,000 after purchasing an additional 52 shares during the period. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MNDY has been the subject of several recent research reports. Piper Sandler reaffirmed an “overweight” rating and set a $325.00 price target on shares of monday.com in a report on Friday, June 27th. Canaccord Genuity Group decreased their target price on shares of monday.com from $375.00 to $350.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Morgan Stanley initiated coverage on shares of monday.com in a research report on Tuesday, June 17th. They set an “equal weight” rating and a $330.00 target price on the stock. Scotiabank boosted their target price on shares of monday.com from $315.00 to $330.00 and gave the stock a “sector outperform” rating in a research report on Friday, May 2nd. Finally, Barclays decreased their target price on shares of monday.com from $360.00 to $345.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, monday.com has a consensus rating of “Moderate Buy” and an average price target of $349.23.

monday.com Trading Down 2.8%

monday.com stock opened at $284.06 on Tuesday. The stock has a market cap of $14.42 billion, a PE ratio of 289.86, a P/E/G ratio of 105.75 and a beta of 1.30. The stock has a 50-day moving average price of $296.13 and a 200 day moving average price of $276.10. monday.com Ltd. has a 52 week low of $188.01 and a 52 week high of $342.64.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.40. The firm had revenue of $282.25 million during the quarter, compared to analysts’ expectations of $275.93 million. monday.com had a return on equity of 7.87% and a net margin of 5.08%. The firm’s quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.61 EPS. On average, equities analysts predict that monday.com Ltd. will post 0.46 EPS 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.