Bwcp LP Invests $16.16 Million in monday.com Ltd. $MNDY

Bwcp LP acquired a new stake in shares of monday.com Ltd. (NASDAQ:MNDY) during the second quarter, HoldingsChannel.com reports. The fund acquired 51,385 shares of the company’s stock, valued at approximately $16,160,000. monday.com comprises about 2.6% of Bwcp LP’s investment portfolio, making the stock its 22nd largest position.

A number of other institutional investors have also made changes to their positions in the stock. Spire Wealth Management boosted its position in monday.com by 7.5% during the second quarter. Spire Wealth Management now owns 615 shares of the company’s stock worth $193,000 after purchasing an additional 43 shares during the period. CWM LLC raised its position in shares of monday.com by 31.3% in the second quarter. CWM LLC now owns 210 shares of the company’s stock valued at $66,000 after purchasing an additional 50 shares during the period. Dakota Wealth Management lifted its stake in shares of monday.com by 3.0% in the second quarter. Dakota Wealth Management now owns 1,793 shares of the company’s stock worth $564,000 after buying an additional 52 shares during the last quarter. Chicago Capital LLC boosted its holdings 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 worth $497,000 after buying an additional 55 shares during the period. Finally, RFG Advisory LLC grew its stake in monday.com by 2.9% in the 2nd quarter. RFG Advisory LLC now owns 1,958 shares of the company’s stock valued at $616,000 after buying an additional 55 shares during the last quarter. 73.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MNDY shares. JPMorgan Chase & Co. cut their target price on shares of monday.com from $285.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Bank of America dropped their price objective on monday.com from $205.00 to $195.00 and set a “neutral” rating on the stock in a research note on Tuesday, November 11th. Oppenheimer started coverage on monday.com in a research note on Wednesday, August 27th. They set an “outperform” rating and a $300.00 target price for the company. Piper Sandler lowered their target price on monday.com from $275.00 to $250.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Finally, Citigroup cut their price target on monday.com from $332.00 to $319.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $262.91.

monday.com Trading Down 3.0%

Shares of MNDY stock opened at $156.94 on Friday. monday.com Ltd. has a 12 month low of $141.20 and a 12 month high of $342.64. The company has a market capitalization of $7.97 billion, a P/E ratio of 127.59, a P/E/G ratio of 6.40 and a beta of 1.27. The stock has a 50 day moving average of $172.24 and a two-hundred day moving average of $221.14.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, November 10th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.27. The business had revenue of $316.86 million for the quarter, compared to analysts’ expectations of $312.26 million. monday.com had a return on equity of 5.99% and a net margin of 5.58%.monday.com’s quarterly revenue was up 26.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.85 earnings per share. Sell-side analysts predict that monday.com Ltd. will post 0.46 earnings per share for the current fiscal 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.