Eventide Asset Management LLC Has $84.73 Million Position in monday.com Ltd. (NASDAQ:MNDY)

Eventide Asset Management LLC cut its stake in monday.com Ltd. (NASDAQ:MNDY) by 4.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 305,035 shares of the company’s stock after selling 13,882 shares during the quarter. monday.com accounts for 1.5% of Eventide Asset Management LLC’s holdings, making the stock its 17th biggest position. Eventide Asset Management LLC’s holdings in monday.com were worth $84,730,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of MNDY. FMR LLC increased its stake in monday.com by 112.0% in the third quarter. FMR LLC now owns 1,512,094 shares of the company’s stock valued at $420,014,000 after purchasing an additional 798,791 shares in the last quarter. Renaissance Technologies LLC grew its holdings in shares of monday.com by 20.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock valued at $270,299,000 after buying an additional 188,800 shares during the period. Jennison Associates LLC increased its position in shares of monday.com by 77.5% in the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after buying an additional 318,837 shares in the last quarter. 1832 Asset Management L.P. increased its position in shares of monday.com by 34.4% in the 2nd 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. Finally, Westfield Capital Management Co. LP raised its stake in monday.com by 2.4% during the 3rd quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company’s stock worth $166,767,000 after buying an additional 14,304 shares during the period. 73.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on MNDY. The Goldman Sachs Group increased their price target on monday.com from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Piper Sandler raised their target price on shares of monday.com from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, November 11th. Robert W. Baird lifted their price target on shares of monday.com from $265.00 to $270.00 and gave the company a “neutral” rating in a research note on Tuesday, November 12th. Canaccord Genuity Group increased their price objective 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. Finally, Needham & Company LLC boosted their price objective 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. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.81.

monday.com Stock Down 2.1 %

MNDY opened at $286.95 on Friday. The stock has a market cap of $13.85 billion, a price-to-earnings ratio of 699.88, a PEG ratio of 8.00 and a beta of 1.31. monday.com Ltd. has a 12-month low of $170.00 and a 12-month high of $324.99. The business has a 50 day moving average of $284.00 and a 200-day moving average of $253.54.

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

monday.com Company 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.