Spire Wealth Management Makes New Investment in monday.com Ltd. (NASDAQ:MNDY)

Spire Wealth Management purchased a new position in monday.com Ltd. (NASDAQ:MNDY) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 4,026 shares of the company’s stock, valued at approximately $788,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Desjardins Global Asset Management Inc. boosted its position in monday.com by 222.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the company’s stock valued at $25,000 after buying an additional 91 shares during the last quarter. Crewe Advisors LLC increased its stake in shares of monday.com by 44.9% in the third quarter. Crewe Advisors LLC now owns 229 shares of the company’s stock worth $36,000 after acquiring an additional 71 shares during the period. Sandy Spring Bank acquired a new stake in shares of monday.com in the third quarter worth $72,000. Allspring Global Investments Holdings LLC purchased a new position in shares of monday.com during the third quarter worth $118,000. Finally, DekaBank Deutsche Girozentrale lifted its position in monday.com by 21.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 834 shares of the company’s stock valued at $131,000 after purchasing an additional 145 shares during the period. 73.70% of the stock is currently owned by institutional investors and hedge funds.

monday.com Stock Down 2.1 %

MNDY opened at $186.28 on Thursday. The company has a market cap of $8.99 billion, a PE ratio of -2,660.76 and a beta of 1.24. monday.com Ltd. has a twelve month low of $122.13 and a twelve month high of $239.22. The company has a 50-day moving average price of $208.17 and a 200 day moving average price of $192.61.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, February 12th. The company reported $0.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.33. The business had revenue of $202.60 million during the quarter, compared to analyst estimates of $197.97 million. monday.com had a negative net margin of 0.26% and a negative return on equity of 0.43%. The company’s revenue for the quarter was up 35.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.03) earnings per share. As a group, sell-side analysts expect that monday.com Ltd. will post -0.16 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on MNDY. Wells Fargo & Company initiated coverage on monday.com in a research note on Tuesday, April 9th. They set an “overweight” rating and a $260.00 price objective for the company. DA Davidson reissued a “neutral” rating and issued a $190.00 price target on shares of monday.com in a report on Tuesday, February 13th. Bank of America assumed coverage on shares of monday.com in a research note on Monday, February 26th. They set a “buy” rating and a $280.00 price objective on the stock. Citigroup cut shares of monday.com from a “buy” rating to a “neutral” rating and decreased their target price for the company from $277.00 to $250.00 in a research note on Wednesday, April 10th. Finally, Oppenheimer raised their price target on shares of monday.com from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. Three research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, monday.com has a consensus rating of “Moderate Buy” and an average price target of $240.00.

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.