American Trust Makes New Investment in monday.com Ltd. (NASDAQ:MNDY)

American Trust purchased a new stake in shares of monday.com Ltd. (NASDAQ:MNDY) during the 3rd quarter, HoldingsChannel reports. The fund purchased 734 shares of the company’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of MNDY. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of monday.com in the 3rd quarter worth approximately $43,000. Ridgewood Investments LLC bought a new stake in shares of monday.com during the 2nd quarter worth $45,000. Gilliland Jeter Wealth Management LLC grew its holdings in shares of monday.com by 72.9% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock worth $58,000 after acquiring an additional 102 shares during the last quarter. Toronto Dominion Bank acquired a new position in shares of monday.com in the 2nd quarter valued at $120,000. Finally, Vestcor Inc raised its holdings in monday.com by 31.4% during the 3rd quarter. Vestcor Inc now owns 519 shares of the company’s stock worth $144,000 after buying an additional 124 shares during the period. Institutional investors own 73.70% of the company’s stock.

monday.com Stock Down 3.2 %

Shares of MNDY opened at $273.08 on Friday. The firm has a market cap of $13.18 billion, a price-to-earnings ratio of 666.05, a price-to-earnings-growth ratio of 7.75 and a beta of 1.25. monday.com Ltd. has a 12 month low of $170.00 and a 12 month high of $324.99. The company’s fifty day moving average is $285.81 and its 200-day moving average is $258.24.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. The company had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $246.17 million. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The business’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 earnings per share. As a group, research analysts predict that monday.com Ltd. will post 0.85 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MNDY has been the subject of several research analyst reports. Needham & Company LLC upped their price target on shares of monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Oppenheimer raised their target price on monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. DA Davidson reissued a “neutral” rating and set a $300.00 price target on shares of monday.com in a research report on Tuesday, November 12th. Wells Fargo & Company lifted their target price on monday.com from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, Canaccord Genuity Group increased their price target on shares of monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Six analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company 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.