Vestcor Inc Cuts Stock Holdings in monday.com Ltd. (NASDAQ:MNDY)

Vestcor Inc lowered its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 11.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 536 shares of the company’s stock after selling 66 shares during the quarter. Vestcor Inc’s holdings in monday.com were worth $130,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Grove Bank & Trust purchased a new stake in shares of monday.com during the first quarter worth $30,000. First Horizon Advisors Inc. increased its holdings in monday.com by 72.9% in the first quarter. First Horizon Advisors Inc. now owns 166 shares of the company’s stock valued at $40,000 after buying an additional 70 shares during the last quarter. Signaturefd LLC increased its holdings in monday.com by 50.7% in the first quarter. Signaturefd LLC now owns 217 shares of the company’s stock valued at $53,000 after buying an additional 73 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in monday.com by 32.7% in the first quarter. Farther Finance Advisors LLC now owns 211 shares of the company’s stock valued at $55,000 after buying an additional 52 shares during the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in monday.com in the first quarter valued at $64,000. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Stock Performance

MNDY stock opened at $249.75 on Tuesday. The stock has a market capitalization of $12.68 billion, a P/E ratio of 254.85, a PEG ratio of 90.66 and a beta of 1.28. monday.com Ltd. has a one year low of $188.01 and a one year high of $342.64. The company has a 50 day moving average price of $293.33 and a two-hundred day moving average price of $277.29.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.70 by $0.40. monday.com had a net margin of 5.08% and a return on equity of 7.87%. The firm had revenue of $282.25 million during the quarter, compared to analysts’ expectations of $275.93 million. During the same period in the previous year, the company earned $0.61 EPS. monday.com’s revenue for the quarter was up 30.2% on a year-over-year basis. Research analysts forecast that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently commented on MNDY shares. JPMorgan Chase & Co. dropped their target price on monday.com from $400.00 to $350.00 and set an “overweight” rating on the stock in a report on Tuesday, May 6th. Barclays decreased their price objective on shares of monday.com from $360.00 to $345.00 and set an “overweight” rating for the company in a research note on Tuesday, May 13th. UBS Group decreased their price objective on shares of monday.com from $350.00 to $310.00 and set a “neutral” rating for the company in a research note on Tuesday, April 29th. Loop Capital decreased their price objective on shares of monday.com from $385.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, May 13th. Finally, Morgan Stanley began coverage on shares of monday.com in a research note on Tuesday, June 17th. They set an “equal weight” rating and a $330.00 target price for the company. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $349.23.

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.