NewEdge Wealth LLC Lowers Stock Holdings in monday.com Ltd. $MNDY

NewEdge Wealth LLC lowered its stake in monday.com Ltd. (NASDAQ:MNDY) by 71.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,996 shares of the company’s stock after selling 27,191 shares during the period. NewEdge Wealth LLC’s holdings in monday.com were worth $760,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. 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. Advisory Services Network LLC purchased a new position in monday.com during the 3rd quarter worth $28,000. EverSource Wealth Advisors LLC raised its position in monday.com by 76.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock worth $47,000 after buying an additional 65 shares during the last quarter. Quarry LP purchased a new position in monday.com during the 4th quarter worth $29,000. Finally, Huntington National Bank lifted its stake in shares of monday.com by 6,040.0% in the 4th quarter. Huntington National Bank now owns 307 shares of the company’s stock worth $45,000 after acquiring an additional 302 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Wall Street Analysts Forecast Growth

MNDY has been the topic of several analyst reports. Piper Sandler lifted their target price on shares of monday.com from $85.00 to $90.00 and gave the company a “neutral” rating in a report on Monday, May 11th. Barclays raised their price objective on shares of monday.com from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Canaccord Genuity Group lowered their price objective on monday.com from $140.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Wall Street Zen upgraded monday.com from a “hold” rating to a “buy” rating in a research report on Sunday, July 12th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of monday.com in a research note on Thursday, June 11th. Seventeen analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $126.04.

monday.com Stock Up 6.0%

Shares of MNDY opened at $82.10 on Tuesday. monday.com Ltd. has a 52-week low of $57.50 and a 52-week high of $295.00. The company has a 50-day simple moving average of $78.71 and a 200-day simple moving average of $82.71. The company has a market capitalization of $4.20 billion, a PE ratio of 35.70, a P/E/G ratio of 3.88 and a beta of 1.26.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Friday, March 13th. The company reported $1.15 EPS for the quarter. monday.com had a net margin of 9.17% and a return on equity of 5.10%. The firm had revenue of $351.26 million for the quarter. On average, research analysts anticipate that monday.com Ltd. will post 1.59 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.