Stifel Financial Corp Reduces Holdings in monday.com Ltd. (NASDAQ:MNDY)

Stifel Financial Corp trimmed its holdings in shares of monday.com Ltd. (NASDAQ:MNDY) by 7.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,906 shares of the company’s stock after selling 2,142 shares during the period. Stifel Financial Corp’s holdings in monday.com were worth $7,196,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Quantinno Capital Management LP purchased a new position in shares of monday.com during the 3rd quarter worth approximately $214,000. Melqart Asset Management UK Ltd increased its stake in shares of monday.com by 5.1% during the 3rd quarter. Melqart Asset Management UK Ltd now owns 17,429 shares of the company’s stock worth $4,841,000 after purchasing an additional 846 shares in the last quarter. Investment Management Corp of Ontario increased its stake in shares of monday.com by 499.6% during the 3rd quarter. Investment Management Corp of Ontario now owns 5,522 shares of the company’s stock worth $1,534,000 after purchasing an additional 4,601 shares in the last quarter. Janus Henderson Group PLC increased its stake in shares of monday.com by 579.3% during the 3rd quarter. Janus Henderson Group PLC now owns 7,683 shares of the company’s stock worth $2,135,000 after purchasing an additional 6,552 shares in the last quarter. Finally, HighTower Advisors LLC increased its stake in shares of monday.com by 31.7% during the 3rd quarter. HighTower Advisors LLC now owns 9,943 shares of the company’s stock worth $2,746,000 after purchasing an additional 2,391 shares in the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on MNDY shares. KeyCorp cut shares of monday.com from an “overweight” rating to a “sector weight” rating in a research note on Friday. Oppenheimer lifted their target price on shares of monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Piper Sandler lifted their target price on shares of monday.com from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Scotiabank started coverage on shares of monday.com in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $325.00 target price for the company. Finally, TD Cowen lifted their target price on shares of monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Six investment analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $310.81.

monday.com Trading Down 3.2 %

NASDAQ:MNDY opened at $273.08 on Friday. The firm has a market capitalization of $13.18 billion, a price-to-earnings ratio of 666.05, a PEG ratio of 7.75 and a beta of 1.25. The firm’s fifty day simple moving average is $285.81 and its 200 day simple moving average is $258.11. monday.com Ltd. has a twelve month low of $170.00 and a twelve month high of $324.99.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The business had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. During the same quarter in the previous year, the business posted $0.15 EPS. The business’s quarterly revenue was up 49.5% on a year-over-year basis. On average, analysts predict that monday.com Ltd. will post 0.85 earnings per share for the current year.

monday.com Profile

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.