Thornburg Investment Management Inc. Boosts Stake in monday.com Ltd. $MNDY

Thornburg Investment Management Inc. raised its holdings in monday.com Ltd. (NASDAQ:MNDY) by 95.8% during the fourth quarter, Holdings Channel.com reports. The firm owned 41,714 shares of the company’s stock after purchasing an additional 20,414 shares during the period. Thornburg Investment Management Inc.’s holdings in monday.com were worth $6,155,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. USS Investment Management Ltd raised its position in monday.com by 21.9% in the fourth quarter. USS Investment Management Ltd now owns 8,985 shares of the company’s stock valued at $1,326,000 after purchasing an additional 1,614 shares during the period. Verition Fund Management LLC raised its position in monday.com by 158.9% in the fourth quarter. Verition Fund Management LLC now owns 14,751 shares of the company’s stock valued at $2,177,000 after purchasing an additional 9,053 shares during the period. Panagora Asset Management Inc. purchased a new stake in monday.com in the fourth quarter valued at $1,615,000. Sands Capital Alternatives LLC raised its position in monday.com by 16.3% in the fourth quarter. Sands Capital Alternatives LLC now owns 67,868 shares of the company’s stock valued at $10,015,000 after purchasing an additional 9,532 shares during the period. Finally, Mariner LLC raised its position in monday.com by 84.3% in the fourth quarter. Mariner LLC now owns 9,542 shares of the company’s stock valued at $1,408,000 after purchasing an additional 4,364 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Price Performance

monday.com stock opened at $77.57 on Monday. monday.com Ltd. has a 1-year low of $57.50 and a 1-year high of $316.98. The stock has a market cap of $3.97 billion, a PE ratio of 33.73, a P/E/G ratio of 3.88 and a beta of 1.24. The stock’s fifty day moving average is $73.57 and its two-hundred day moving average is $98.61.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Friday, March 13th. The company reported $1.15 earnings per share for the quarter. monday.com had a return on equity of 5.10% and a net margin of 9.17%.The company had revenue of $351.27 million for the quarter. On average, research analysts expect that monday.com Ltd. will post 1.59 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on MNDY shares. UBS Group decreased their price target on monday.com from $93.00 to $85.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 12th. Guggenheim set a $130.00 price target on monday.com and gave the stock a “buy” rating in a research note on Thursday, April 9th. Barclays upped their price target on monday.com from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 12th. BTIG Research decreased their price target on monday.com from $135.00 to $115.00 and set a “buy” rating on the stock in a research note on Tuesday, May 12th. Finally, Zacks Research cut monday.com from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Seventeen equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $126.48.

monday.com 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.