NewEdge Wealth LLC Decreases Position in monday.com Ltd. $MNDY

NewEdge Wealth LLC decreased its position in monday.com Ltd. (NASDAQ:MNDY) by 71.2% during the 1st quarter, Holdings Channel reports. The firm owned 10,996 shares of the company’s stock after selling 27,191 shares during the quarter. NewEdge Wealth LLC’s holdings in monday.com were worth $760,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. EverSource Wealth Advisors LLC raised its position in monday.com by 76.5% during the second quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock worth $47,000 after acquiring an additional 65 shares during the last quarter. CoreCap Advisors LLC increased its stake in shares of monday.com by 29.8% during the 4th quarter. CoreCap Advisors LLC now owns 388 shares of the company’s stock worth $57,000 after purchasing an additional 89 shares in the last quarter. NewEdge Advisors LLC raised its position in shares of monday.com by 2,120.0% during the 1st quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares during the last quarter. Royal London Asset Management Ltd. lifted its stake in monday.com by 8.5% in the 4th quarter. Royal London Asset Management Ltd. now owns 1,792 shares of the company’s stock valued at $264,000 after buying an additional 140 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in monday.com during the 3rd quarter valued at $28,000. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Wall Street Zen raised monday.com from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Weiss Ratings restated a “sell (d+)” rating on shares of monday.com in a report on Thursday, June 11th. Citigroup lowered their price target on shares of monday.com from $176.00 to $154.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Zacks Research downgraded shares of monday.com from a “strong-buy” rating to a “hold” rating in a research note on Friday, May 1st. Finally, BTIG Research decreased their target price on shares of monday.com from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Tuesday, July 14th. Seventeen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $126.04.

monday.com Price Performance

MNDY opened at $82.10 on Tuesday. monday.com Ltd. has a 12 month low of $57.50 and a 12 month high of $295.00. The business has a 50-day moving average of $78.71 and a two-hundred day moving average of $82.71. The stock has a market capitalization of $4.20 billion, a price-to-earnings ratio of 35.70, a price-to-earnings-growth ratio of 3.88 and a beta of 1.26.

monday.com (NASDAQ:MNDY) last released its earnings results on Friday, March 13th. The company reported $1.15 earnings per share (EPS) for the quarter. monday.com had a net margin of 9.17% and a return on equity of 5.10%. The business had revenue of $351.26 million for the quarter. Equities research analysts anticipate that monday.com Ltd. will post 1.59 earnings per share for the current year.

About monday.com

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.