Concentric Capital Strategies LP Decreases Holdings in monday.com Ltd. (NASDAQ:MNDY)

Concentric Capital Strategies LP lowered its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 79.0% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,685 shares of the company’s stock after selling 10,089 shares during the quarter. Concentric Capital Strategies LP’s holdings in monday.com were worth $746,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of monday.com during the 3rd quarter worth approximately $43,000. Ridgewood Investments LLC purchased a new position in shares of monday.com during the 2nd quarter valued at $45,000. Gilliland Jeter Wealth Management LLC lifted its position in shares of monday.com by 72.9% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after buying an additional 102 shares during the last quarter. Opal Wealth Advisors LLC purchased a new stake in monday.com in the 2nd quarter worth about $69,000. Finally, Toronto Dominion Bank bought a new stake in monday.com in the 2nd quarter valued at about $120,000. Institutional investors own 73.70% of the company’s stock.

Wall Street Analysts Forecast Growth

MNDY has been the subject of several recent research reports. Canaccord Genuity Group lifted 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. Wells Fargo & Company lifted their price objective on shares of monday.com from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. TD Cowen increased their target price on monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. UBS Group lifted their price target on monday.com from $240.00 to $280.00 and gave the company a “neutral” rating in a research report on Tuesday, August 13th. Finally, Barclays increased their price objective on monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Five analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, monday.com presently has an average rating of “Moderate Buy” and an average price target of $310.81.

monday.com Trading Up 2.2 %

Shares of NASDAQ MNDY opened at $280.80 on Wednesday. The stock’s 50-day moving average is $284.29 and its 200 day moving average is $255.57. The stock has a market cap of $13.56 billion, a price-to-earnings ratio of 684.88, a P/E/G ratio of 7.65 and a beta of 1.25. monday.com Ltd. has a 1-year low of $170.00 and a 1-year high of $324.99.

monday.com (NASDAQ:MNDY) last posted its quarterly 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 firm had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. During the same period last year, the firm posted $0.15 earnings per share. The business’s revenue was up 49.5% compared to the same quarter last year. On average, analysts forecast that monday.com Ltd. will post 0.85 EPS for the current fiscal year.

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.