Lord Abbett & CO. LLC Has $53.74 Million Holdings in monday.com Ltd. (NASDAQ:MNDY)

Lord Abbett & CO. LLC lowered its position in monday.com Ltd. (NASDAQ:MNDY) by 1.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 193,467 shares of the company’s stock after selling 2,180 shares during the period. Lord Abbett & CO. LLC owned 0.40% of monday.com worth $53,739,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of MNDY. China Universal Asset Management Co. Ltd. acquired a new stake in monday.com during the 3rd quarter worth about $1,667,000. International Assets Investment Management LLC bought a new stake in monday.com in the 3rd quarter valued at about $21,989,000. Taylor Frigon Capital Management LLC bought a new position in monday.com in the third quarter worth approximately $1,311,000. Allspring Global Investments Holdings LLC increased its holdings in shares of monday.com by 20.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 72,564 shares of the company’s stock valued at $17,471,000 after acquiring an additional 12,460 shares in the last quarter. Finally, Jennison Associates LLC raised its position in shares of monday.com by 77.5% during the third quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock worth $202,905,000 after purchasing an additional 318,837 shares during the period. 73.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on MNDY shares. Wells Fargo & Company raised 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. Needham & Company LLC increased their target price on shares of monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. Barclays boosted their price target on shares of monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Loop Capital lifted their target price on shares of monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, DA Davidson restated a “neutral” rating and issued a $300.00 target price on shares of monday.com in a research note on Tuesday, November 12th. Six equities research 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $310.81.

monday.com Price Performance

Shares of MNDY opened at $273.08 on Friday. monday.com Ltd. has a 1-year low of $170.00 and a 1-year high of $324.99. The company has a market capitalization of $13.18 billion, a P/E ratio of 666.05, a P/E/G ratio of 7.75 and a beta of 1.25. The firm’s 50 day simple moving average is $285.81 and its 200 day simple moving average is $258.24.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share (EPS) 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 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 firm’s revenue was up 49.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.15 EPS. On average, equities analysts anticipate that monday.com Ltd. will post 0.85 earnings per share for the current 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.