Teacher Retirement System of Texas Lowers Stock Holdings in monday.com Ltd. $MNDY

Teacher Retirement System of Texas lessened its holdings in shares of monday.com Ltd. (NASDAQ:MNDY) by 77.9% during the third quarter, HoldingsChannel reports. The firm owned 19,943 shares of the company’s stock after selling 70,493 shares during the quarter. Teacher Retirement System of Texas’ holdings in monday.com were worth $3,863,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Spire Wealth Management increased its stake in monday.com by 7.5% in the second quarter. Spire Wealth Management now owns 615 shares of the company’s stock valued at $193,000 after purchasing an additional 43 shares during the last quarter. CWM LLC grew its holdings in monday.com by 31.3% in the 2nd quarter. CWM LLC now owns 210 shares of the company’s stock valued at $66,000 after buying an additional 50 shares during the period. Chicago Capital LLC increased its stake in shares of monday.com by 3.6% during the 2nd quarter. Chicago Capital LLC now owns 1,580 shares of the company’s stock valued at $497,000 after acquiring an additional 55 shares during the last quarter. RFG Advisory LLC increased its stake in shares of monday.com by 2.9% during the 2nd quarter. RFG Advisory LLC now owns 1,958 shares of the company’s stock valued at $616,000 after acquiring an additional 55 shares during the last quarter. Finally, Hazlett Burt & Watson Inc. lifted its holdings in shares of monday.com by 60.0% during the 2nd quarter. Hazlett Burt & Watson Inc. now owns 160 shares of the company’s stock worth $50,000 after acquiring an additional 60 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Barclays dropped their price target on shares of monday.com from $202.00 to $194.00 and set an “overweight” rating for the company in a research report on Monday, January 12th. Guggenheim reissued a “buy” rating on shares of monday.com in a research note on Friday, January 16th. Piper Sandler cut their target price on monday.com from $275.00 to $250.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. BTIG Research reiterated a “buy” rating and issued a $210.00 target price on shares of monday.com in a report on Thursday, January 15th. Finally, Canaccord Genuity Group dropped their price target on monday.com from $255.00 to $230.00 and set a “buy” rating for the company in a research note on Tuesday, November 11th. Twenty-one research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $251.04.

monday.com Stock Performance

MNDY stock opened at $125.28 on Wednesday. The firm has a market cap of $6.36 billion, a P/E ratio of 101.85, a price-to-earnings-growth ratio of 2.99 and a beta of 1.26. monday.com Ltd. has a 1 year low of $123.45 and a 1 year high of $342.64. The stock has a 50-day simple moving average of $144.72 and a 200-day simple moving average of $184.32.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, November 10th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.89 by $0.27. monday.com had a return on equity of 5.99% and a net margin of 5.58%.The firm had revenue of $316.86 million during the quarter, compared to analysts’ expectations of $312.26 million. During the same quarter in the prior year, the business earned $0.85 EPS. monday.com’s quarterly revenue was up 26.3% compared to the same quarter last year. On average, equities research analysts predict that monday.com Ltd. will post 0.46 EPS 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.