Plato Investment Management Ltd Buys New Stake in monday.com Ltd. $MNDY

Plato Investment Management Ltd purchased a new position in shares of monday.com Ltd. (NASDAQ:MNDY) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 5,997 shares of the company’s stock, valued at approximately $432,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SEB Asset Management AB acquired a new position in monday.com during the first quarter worth approximately $1,639,000. Swiss National Bank lifted its stake in monday.com by 28.6% in the first quarter. Swiss National Bank now owns 159,100 shares of the company’s stock valued at $10,995,000 after buying an additional 35,400 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of monday.com by 75.9% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 139,009 shares of the company’s stock valued at $20,512,000 after acquiring an additional 60,000 shares during the period. NewEdge Wealth LLC acquired a new stake in shares of monday.com in the fourth quarter valued at approximately $5,635,000. Finally, Empowered Funds LLC grew its position in shares of monday.com by 4,194.6% during the first quarter. Empowered Funds LLC now owns 14,430 shares of the company’s stock worth $997,000 after acquiring an additional 14,094 shares during the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently commented on MNDY. Citigroup reduced their price target on shares of monday.com from $154.00 to $132.00 and set a “buy” rating for the company in a research report on Tuesday, August 11th. Weiss Ratings reissued a “sell (d+)” rating on shares of monday.com in a research report on Thursday, June 11th. Oppenheimer set a $115.00 price objective on shares of monday.com in a research note on Monday, May 11th. Cantor Fitzgerald cut shares of monday.com from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $112.00 to $90.00 in a report on Monday, August 10th. Finally, Zacks Research upgraded shares of monday.com from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, August 12th. One 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 given a Sell rating to the company. According to MarketBeat, monday.com currently has an average rating of “Moderate Buy” and an average target price of $117.91.

monday.com Stock Performance

Shares of monday.com stock opened at $91.01 on Thursday. The company has a market cap of $4.66 billion, a P/E ratio of 38.73, a PEG ratio of 2.11 and a beta of 1.24. monday.com Ltd. has a one year low of $57.50 and a one year high of $220.80. The firm has a fifty day moving average of $80.98 and a two-hundred day moving average of $77.48.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, August 10th. The company reported $1.48 EPS for the quarter, topping the consensus estimate of $1.11 by $0.37. The company had revenue of $364.62 million during the quarter, compared to analysts’ expectations of $355.55 million. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The business’s revenue was up 21.9% on a year-over-year basis. During the same quarter last year, the business earned $1.09 EPS. As a group, equities analysts predict that monday.com Ltd. will post 2.2 earnings per share for the current year.

About monday.com

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.