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

Norges Bank purchased a new stake in monday.com Ltd. (NASDAQ:MNDY) in the 4th quarter, Holdings Channel reports. The firm purchased 540,720 shares of the company’s stock, valued at approximately $79,789,000.

Several other institutional investors and hedge funds also recently made changes to their positions in MNDY. NewEdge Advisors LLC grew its holdings in shares of monday.com by 2,120.0% in the 1st quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after buying an additional 106 shares during the period. American Century Companies Inc. grew its holdings in shares of monday.com by 75.3% in the 2nd quarter. American Century Companies Inc. now owns 4,192 shares of the company’s stock valued at $1,318,000 after buying an additional 1,801 shares during the period. EverSource Wealth Advisors LLC grew its holdings in shares of monday.com by 76.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $47,000 after buying an additional 65 shares during the period. Cerity Partners LLC grew its holdings in shares of monday.com by 28.8% in the 2nd quarter. Cerity Partners LLC now owns 2,596 shares of the company’s stock valued at $816,000 after buying an additional 580 shares during the period. Finally, WINTON GROUP Ltd acquired a new position in shares of monday.com in the 2nd quarter valued at $398,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Trading Down 1.8%

Shares of NASDAQ MNDY opened at $85.74 on Friday. The firm has a market cap of $4.39 billion, a PE ratio of 37.28, a PEG ratio of 4.29 and a beta of 1.24. monday.com Ltd. has a 1-year low of $57.50 and a 1-year high of $316.98. The company has a fifty day moving average price of $72.27 and a 200 day moving average price of $101.30.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results 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 $351.27 million for the quarter. Equities research analysts forecast that monday.com Ltd. will post 1.59 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Robert W. Baird reaffirmed a “neutral” rating and issued a $90.00 target price (down from $175.00) on shares of monday.com in a research note on Tuesday, February 10th. Wolfe Research reaffirmed an “outperform” rating and issued a $95.00 target price on shares of monday.com in a research note on Monday, February 9th. Piper Sandler upped their target price on shares of monday.com from $85.00 to $90.00 and gave the stock a “neutral” rating in a research note on Monday, May 11th. Tigress Financial reduced their target price on shares of monday.com to $165.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. Finally, Canaccord Genuity Group reduced their target price on shares of monday.com from $140.00 to $115.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Seventeen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $126.48.

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.