monday.com Ltd. (NASDAQ:MNDY) Shares Bought by Connable Office Inc.

Connable Office Inc. grew its position in monday.com Ltd. (NASDAQ:MNDY) by 24.5% during the second quarter, Holdings Channel.com reports. The firm owned 3,857 shares of the company’s stock after acquiring an additional 758 shares during the period. Connable Office Inc.’s holdings in monday.com were worth $929,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Ridgewood Investments LLC purchased a new stake in monday.com during the second quarter worth approximately $45,000. Gilliland Jeter Wealth Management LLC boosted its holdings in shares of monday.com by 72.9% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after buying an additional 102 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of monday.com in the 2nd quarter valued at $69,000. PNC Financial Services Group Inc. raised its stake in monday.com by 373.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 393 shares of the company’s stock worth $74,000 after acquiring an additional 310 shares in the last quarter. Finally, Industrial Alliance Investment Management Inc. lifted its position in monday.com by 741.7% in the first quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock valued at $91,000 after acquiring an additional 356 shares during the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the company. The Goldman Sachs Group raised their price objective on monday.com from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. raised their price target on monday.com from $270.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. UBS Group boosted their price objective on monday.com from $240.00 to $280.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Tigress Financial increased their price objective on monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Robert W. Baird lifted their target price on shares of monday.com from $250.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $285.79.

monday.com Stock Down 3.2 %

Shares of monday.com stock opened at $241.08 on Monday. The firm has a market cap of $11.64 billion, a price-to-earnings ratio of 634.44, a price-to-earnings-growth ratio of 11.78 and a beta of 1.32. monday.com Ltd. has a 52-week low of $122.13 and a 52-week high of $272.77. The company’s 50-day simple moving average is $241.98 and its 200-day simple moving average is $224.35.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.23. The company had revenue of $236.11 million for the quarter, compared to analysts’ expectations of $227.96 million. monday.com had a return on equity of 4.74% and a net margin of 4.88%. Equities research analysts anticipate that monday.com Ltd. will post 0.49 EPS 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.