Westfield Capital Management Co. LP Increases Stock Position in monday.com Ltd. $MNDY

Westfield Capital Management Co. LP raised its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 7.3% during the 3rd quarter, Holdings Channel reports. The fund owned 693,319 shares of the company’s stock after purchasing an additional 46,999 shares during the period. Westfield Capital Management Co. LP’s holdings in monday.com were worth $134,289,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. NewEdge Advisors LLC boosted its stake in monday.com by 2,120.0% in the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after acquiring an additional 106 shares in the last quarter. Promus Capital LLC purchased a new position in shares of monday.com in the second quarter worth $45,000. Smartleaf Asset Management LLC raised its holdings in shares of monday.com by 575.8% in the third quarter. Smartleaf Asset Management LLC now owns 223 shares of the company’s stock worth $45,000 after buying an additional 190 shares during the last quarter. EverSource Wealth Advisors LLC grew its holdings in shares of monday.com by 76.5% during the second quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $47,000 after buying an additional 65 shares during the last quarter. Finally, Allworth Financial LP increased its position in shares of monday.com by 219.6% in the 2nd quarter. Allworth Financial LP now owns 163 shares of the company’s stock valued at $51,000 after acquiring an additional 112 shares during the period. 73.70% of the stock is currently owned by institutional investors.

monday.com Stock Down 1.4%

Shares of monday.com stock opened at $74.31 on Thursday. The firm has a market cap of $3.77 billion, a PE ratio of 33.03, a P/E/G ratio of 1.39 and a beta of 1.25. monday.com Ltd. has a twelve month low of $68.68 and a twelve month high of $316.98. The business has a 50-day moving average price of $117.81 and a 200 day moving average price of $157.41.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, February 9th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.91 by $0.13. The company had revenue of $333.88 million for the quarter, compared to analyst estimates of $329.71 million. monday.com had a return on equity of 4.80% and a net margin of 9.64%.monday.com’s quarterly revenue was up 24.6% compared to the same quarter last year. During the same period last year, the company earned $1.08 earnings per share. On average, sell-side analysts expect that monday.com Ltd. will post 0.46 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on MNDY shares. Canaccord Genuity Group dropped their price target on monday.com from $190.00 to $140.00 and set a “buy” rating on the stock in a research note on Tuesday, February 10th. Robert W. Baird reiterated a “neutral” rating and issued a $90.00 target price (down from $175.00) on shares of monday.com in a research report on Tuesday, February 10th. Loop Capital set a $80.00 price target on monday.com in a research report on Tuesday, February 10th. UBS Group dropped their target price on monday.com from $140.00 to $93.00 and set a “neutral” rating on the stock in a report on Tuesday, February 10th. Finally, JPMorgan Chase & Co. reduced their price target on monday.com from $285.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, monday.com presently has a consensus rating of “Moderate Buy” and a consensus target price of $155.38.

About monday.com

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.