Janney Montgomery Scott LLC Acquires Shares of 3,605 monday.com Ltd. (NASDAQ:MNDY)

Janney Montgomery Scott LLC purchased a new stake in monday.com Ltd. (NASDAQ:MNDY) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,605 shares of the company’s stock, valued at approximately $1,001,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Clearbridge Investments LLC boosted its position in shares of monday.com by 2,851.5% during the 1st quarter. Clearbridge Investments LLC now owns 344,525 shares of the company’s stock worth $77,818,000 after purchasing an additional 332,852 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of monday.com by 431.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock valued at $107,176,000 after purchasing an additional 313,279 shares during the period. Renaissance Technologies LLC boosted its holdings in monday.com by 20.2% during the second quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock worth $270,299,000 after buying an additional 188,800 shares in the last quarter. Bank of New York Mellon Corp grew its position in monday.com by 171.3% during the second quarter. Bank of New York Mellon Corp now owns 273,877 shares of the company’s stock worth $65,938,000 after buying an additional 172,919 shares during the period. Finally, 1832 Asset Management L.P. increased its holdings in monday.com by 34.4% in the second quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock valued at $160,707,000 after buying an additional 170,800 shares in the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Tigress Financial boosted their price target on monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Baird R W upgraded monday.com to a “hold” rating in a research report on Tuesday, July 23rd. Capital One Financial assumed coverage on monday.com in a research note on Thursday, October 10th. They set an “overweight” rating and a $325.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of monday.com from $270.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Finally, TD Cowen lifted their target price on shares of monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $310.10.

monday.com Stock Performance

Shares of MNDY opened at $262.89 on Friday. The company has a market capitalization of $12.69 billion, a price-to-earnings ratio of 641.20, a PEG ratio of 12.55 and a beta of 1.31. The company’s 50 day simple moving average is $280.53 and its 200 day simple moving average is $248.14. monday.com Ltd. has a 1 year low of $166.86 and a 1 year high of $324.99.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.24. The business had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The company’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 earnings per share. Equities analysts expect that monday.com Ltd. will post 0.5 EPS for the current fiscal year.

About monday.com

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.