Stifel Financial Corp Trims Stock Position in monday.com Ltd. (NASDAQ:MNDY)

Stifel Financial Corp cut its stake in monday.com Ltd. (NASDAQ:MNDY) by 7.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,906 shares of the company’s stock after selling 2,142 shares during the period. Stifel Financial Corp owned about 0.05% of monday.com worth $7,196,000 as of its most recent SEC filing.

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

monday.com Trading Down 3.2 %

Shares of monday.com stock opened at $273.08 on Friday. monday.com Ltd. has a 12-month low of $170.00 and a 12-month high of $324.99. The stock has a market cap of $13.18 billion, a PE ratio of 666.05, a price-to-earnings-growth ratio of 7.75 and a beta of 1.25. The company has a 50-day moving average of $285.81 and a two-hundred day moving average of $258.11.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MNDY shares. Needham & Company LLC increased their target price on shares of monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Oppenheimer increased 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 increased 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. Canaccord Genuity Group increased their target price on shares of monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Finally, TD Cowen increased 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 equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, monday.com has an average rating of “Moderate Buy” and an average price target of $310.81.

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.