70,426 Shares in monday.com Ltd. $MNDY Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of monday.com Ltd. (NASDAQ:MNDY) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 70,426 shares of the company’s stock, valued at approximately $5,098,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned about 0.14% of monday.com at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its holdings in shares of monday.com by 2,120.0% during the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares during the period. American Century Companies Inc. increased its holdings in monday.com by 75.3% in the second quarter. American Century Companies Inc. now owns 4,192 shares of the company’s stock valued at $1,318,000 after purchasing an additional 1,801 shares during the period. EverSource Wealth Advisors LLC increased its holdings in monday.com by 76.5% in the second quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $47,000 after purchasing an additional 65 shares during the period. Cerity Partners LLC raised its position in monday.com by 28.8% during the 2nd quarter. Cerity Partners LLC now owns 2,596 shares of the company’s stock worth $816,000 after purchasing an additional 580 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new position in monday.com during the 2nd quarter worth $398,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Wells Fargo & Company cut their target price on monday.com from $130.00 to $120.00 and set an “overweight” rating on the stock in a report on Tuesday, August 11th. Canaccord Genuity Group lowered their price objective on monday.com from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $95.00 price objective on shares of monday.com in a research note on Monday, August 10th. UBS Group upped their target price on monday.com from $85.00 to $95.00 and gave the company a “neutral” rating in a report on Tuesday, August 11th. Finally, Wolfe Research downgraded shares of monday.com from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, August 11th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $117.91.

monday.com Trading Down 8.1%

Shares of monday.com stock opened at $83.67 on Wednesday. The business has a 50-day moving average price of $86.85 and a two-hundred day moving average price of $78.16. monday.com Ltd. has a 1-year low of $57.50 and a 1-year high of $220.80. The company has a market cap of $4.28 billion, a P/E ratio of 35.60, a PEG ratio of 2.13 and a beta of 1.15.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, beating 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 company had revenue of $364.62 million for the quarter, compared to the consensus estimate of $355.55 million. During the same period in the previous year, the business earned $1.09 EPS. The firm’s revenue was up 21.9% compared to the same quarter last year. Equities research analysts forecast that monday.com Ltd. will post 2.25 EPS for the current fiscal year.

monday.com 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.