Royal Bank of Canada Purchases 14,300 Shares of monday.com Ltd. $MNDY

Royal Bank of Canada boosted its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 88.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,422 shares of the company’s stock after buying an additional 14,300 shares during the period. Royal Bank of Canada’s holdings in monday.com were worth $2,102,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Capital World Investors increased its stake in monday.com by 91.4% in the fourth quarter. Capital World Investors now owns 3,286,461 shares of the company’s stock valued at $484,950,000 after acquiring an additional 1,569,198 shares during the last quarter. Renaissance Technologies LLC lifted its stake in monday.com by 93.3% during the first quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock worth $150,797,000 after purchasing an additional 1,052,900 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in monday.com by 15.0% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 1,274,910 shares of the company’s stock worth $188,126,000 after purchasing an additional 165,996 shares during the last quarter. State Street Corp boosted its holdings in shares of monday.com by 3.8% in the 4th quarter. State Street Corp now owns 688,751 shares of the company’s stock valued at $101,632,000 after purchasing an additional 25,009 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in shares of monday.com by 4.2% in the 2nd quarter. Alliancebernstein L.P. now owns 605,510 shares of the company’s stock valued at $190,421,000 after purchasing an additional 24,624 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

monday.com Stock Performance

Shares of MNDY opened at $83.33 on Tuesday. monday.com Ltd. has a 52 week low of $57.50 and a 52 week high of $220.80. The stock has a market capitalization of $4.26 billion, a price-to-earnings ratio of 35.46, a PEG ratio of 2.21 and a beta of 1.24. The stock has a fifty day moving average of $80.69 and a 200-day moving average of $77.92.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.37. monday.com had a return on equity of 9.09% and a net margin of 8.87%.The business had revenue of $364.62 million for the quarter, compared to analyst estimates of $355.55 million. During the same quarter in the previous year, the company posted $1.09 EPS. monday.com’s quarterly revenue was up 21.9% compared to the same quarter last year. As a group, equities analysts forecast that monday.com Ltd. will post 2.09 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on MNDY shares. Weiss Ratings reissued a “sell (d+)” rating on shares of monday.com in a report on Thursday, June 11th. Jefferies Financial Group reiterated a “hold” rating and issued a $95.00 target price on shares of monday.com in a research report on Monday, August 10th. Capital One Financial downgraded monday.com from an “overweight” rating to an “equal weight” rating and set a $95.00 target price for the company. in a research note on Monday, August 10th. Citigroup dropped their target price on shares of monday.com from $154.00 to $132.00 and set a “buy” rating for the company in a report on Tuesday, August 11th. Finally, Canaccord Genuity Group reduced their price target on shares of monday.com from $140.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, monday.com has a consensus rating of “Moderate Buy” and an average price target of $117.91.

monday.com Company Profile

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.