Norges Bank Takes $79.79 Million Position in monday.com Ltd. $MNDY

Norges Bank acquired a new position in monday.com Ltd. (NASDAQ:MNDY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 540,720 shares of the company’s stock, valued at approximately $79,789,000. Norges Bank owned about 1.07% of monday.com at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of MNDY. NewEdge Advisors LLC raised its position in monday.com by 2,120.0% in the 1st quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares during the last quarter. American Century Companies Inc. raised its position in monday.com by 75.3% in the 2nd quarter. American Century Companies Inc. now owns 4,192 shares of the company’s stock worth $1,318,000 after purchasing an additional 1,801 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in monday.com by 76.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock worth $47,000 after purchasing an additional 65 shares during the last quarter. Cerity Partners LLC raised its position in monday.com by 28.8% in 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 in the 2nd quarter worth approximately $398,000. Institutional investors own 73.70% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on MNDY. DA Davidson set a $100.00 price objective on shares of monday.com in a research report on Tuesday, February 10th. KeyCorp dropped their price objective on shares of monday.com from $220.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, February 10th. Guggenheim set a $130.00 price objective on shares of monday.com and gave the stock a “buy” rating in a research report on Thursday, April 9th. Canaccord Genuity Group dropped their price objective on shares of monday.com from $140.00 to $115.00 and set a “buy” rating for the company in a research report on Tuesday, May 12th. Finally, TD Cowen boosted their price objective on shares of monday.com from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Tuesday, May 12th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $126.48.

monday.com Stock Performance

Shares of monday.com stock opened at $85.74 on Friday. The firm has a fifty day moving average of $72.27 and a two-hundred day moving average of $101.30. The stock has a market capitalization of $4.39 billion, a price-to-earnings ratio of 37.28, a PEG ratio of 4.29 and a beta of 1.24. monday.com Ltd. has a 52 week low of $57.50 and a 52 week high of $316.98.

monday.com (NASDAQ:MNDY) last issued its earnings results on Friday, March 13th. The company reported $1.15 EPS for the quarter. The company had revenue of $351.27 million during the quarter. monday.com had a net margin of 9.17% and a return on equity of 5.10%. As a group, research analysts forecast that monday.com Ltd. will post 1.59 EPS for the current fiscal 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.