Neuberger Berman Group LLC Increases Holdings in monday.com Ltd. $MNDY

Neuberger Berman Group LLC grew its stake in monday.com Ltd. (NASDAQ:MNDY) by 10.2% during the 2nd quarter, HoldingsChannel reports. The fund owned 450,619 shares of the company’s stock after purchasing an additional 41,659 shares during the quarter. Neuberger Berman Group LLC’s holdings in monday.com were worth $141,683,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Public Sector Pension Investment Board boosted its holdings in shares of monday.com by 8.7% during the 1st quarter. Public Sector Pension Investment Board now owns 18,661 shares of the company’s stock valued at $4,538,000 after acquiring an additional 1,500 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its position in monday.com by 45.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,401,580 shares of the company’s stock valued at $583,969,000 after purchasing an additional 745,686 shares during the period. Nuveen LLC purchased a new stake in monday.com in the first quarter worth approximately $23,078,000. 1832 Asset Management L.P. bought a new stake in monday.com in the 1st quarter worth approximately $115,744,000. Finally, Voya Investment Management LLC raised its stake in monday.com by 5.1% during the 1st quarter. Voya Investment Management LLC now owns 332,845 shares of the company’s stock valued at $80,935,000 after buying an additional 16,201 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors.

monday.com Trading Down 3.0%

NASDAQ MNDY opened at $156.94 on Friday. The stock has a market cap of $7.97 billion, a PE ratio of 127.59, a P/E/G ratio of 6.20 and a beta of 1.27. monday.com Ltd. has a 12 month low of $141.20 and a 12 month high of $342.64. The stock’s 50 day moving average is $172.24 and its 200 day moving average is $220.59.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, November 10th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.27. The company had revenue of $316.86 million during the quarter, compared to analysts’ expectations of $312.26 million. monday.com had a net margin of 5.58% and a return on equity of 5.99%. monday.com’s quarterly revenue was up 26.3% on a year-over-year basis. During the same period last year, the company posted $0.85 earnings per share. On average, analysts forecast that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MNDY shares. Morgan Stanley reduced their price objective on monday.com from $260.00 to $236.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. Guggenheim initiated coverage on shares of monday.com in a research note on Thursday, December 4th. They set a “buy” rating and a $250.00 price target on the stock. JPMorgan Chase & Co. decreased their target price on monday.com from $285.00 to $230.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. Tigress Financial boosted their price target on monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday. Finally, Zacks Research raised shares of monday.com from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $262.91.

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.