JPMorgan Chase & Co. Sells 337,799 Shares of monday.com Ltd. $MNDY

JPMorgan Chase & Co. lowered its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 18.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,495,201 shares of the company’s stock after selling 337,799 shares during the quarter. JPMorgan Chase & Co. owned 2.95% of monday.com worth $289,606,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. WCM Investment Management LLC raised its holdings in monday.com by 2.8% in the third quarter. WCM Investment Management LLC now owns 4,184,745 shares of the company’s stock worth $843,519,000 after purchasing an additional 115,353 shares in the last quarter. Ibex Investors LLC bought a new position in shares of monday.com in the 3rd quarter worth about $34,864,000. Baillie Gifford & Co. lifted its position in monday.com by 136.5% during the 3rd quarter. Baillie Gifford & Co. now owns 708,278 shares of the company’s stock valued at $137,186,000 after acquiring an additional 408,848 shares during the period. TenCore Partners LP boosted its stake in monday.com by 42.2% during the third quarter. TenCore Partners LP now owns 141,390 shares of the company’s stock worth $27,386,000 after acquiring an additional 41,935 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in monday.com by 17.9% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 79,009 shares of the company’s stock worth $15,303,000 after acquiring an additional 12,000 shares in the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

monday.com Stock Down 1.3%

Shares of MNDY stock opened at $76.00 on Friday. The company has a 50 day moving average price of $123.96 and a 200-day moving average price of $162.98. monday.com Ltd. has a 52 week low of $68.68 and a 52 week high of $316.98. The firm has a market capitalization of $3.86 billion, a PE ratio of 33.78, a P/E/G ratio of 1.42 and a beta of 1.25.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, February 9th. The company reported $1.04 EPS for the quarter, topping the consensus estimate of $0.91 by $0.13. The company had revenue of $333.88 million during the quarter, compared to analyst estimates of $329.71 million. monday.com had a return on equity of 4.80% and a net margin of 9.64%.monday.com’s revenue was up 24.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.08 earnings per share. Analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MNDY. Robert W. Baird reiterated a “neutral” rating and set a $90.00 target price (down from $175.00) on shares of monday.com in a report on Tuesday, February 10th. Zacks Research upgraded shares of monday.com from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, February 3rd. Barclays set a $115.00 price objective on shares of monday.com in a research note on Tuesday, February 10th. Loop Capital set a $80.00 target price on shares of monday.com in a research note on Tuesday, February 10th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of monday.com in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $162.88.

monday.com Company Profile

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.