Peregrine Capital Management LLC Sells 12,001 Shares of monday.com Ltd. $MNDY

Peregrine Capital Management LLC cut its stake in monday.com Ltd. (NASDAQ:MNDY) by 6.4% in the 1st quarter, Holdings Channel.com reports. The fund owned 174,724 shares of the company’s stock after selling 12,001 shares during the quarter. Peregrine Capital Management LLC’s holdings in monday.com were worth $12,075,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. NewEdge Advisors LLC grew its holdings in shares of monday.com by 2,120.0% during the 1st quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares in the last quarter. American Century Companies Inc. raised its stake in monday.com by 75.3% in the second quarter. American Century Companies Inc. now owns 4,192 shares of the company’s stock valued at $1,318,000 after purchasing an additional 1,801 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in monday.com by 76.5% in the second quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $47,000 after purchasing an additional 65 shares in the last quarter. Cerity Partners LLC lifted its position in monday.com by 28.8% during the second quarter. Cerity Partners LLC now owns 2,596 shares of the company’s stock worth $816,000 after purchasing an additional 580 shares during the period. Finally, WINTON GROUP Ltd bought a new stake in monday.com during the second quarter worth about $398,000. 73.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on MNDY. TD Cowen raised their target price on shares of monday.com from $100.00 to $110.00 and gave the company a “buy” rating in a report on Tuesday, May 12th. Wall Street Zen upgraded monday.com from a “hold” rating to a “buy” rating in a research note on Saturday, June 20th. BTIG Research decreased their target price on monday.com from $135.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Canaccord Genuity Group cut their target price on shares of monday.com from $140.00 to $115.00 and set a “buy” rating on the stock in a research report on Tuesday, May 12th. Finally, Oppenheimer set a $115.00 price target on shares of monday.com in a report on Monday, May 11th. Seventeen investment analysts have rated the stock with a Buy rating, seven have assigned 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 an average price target of $126.48.

monday.com Trading Down 1.6%

Shares of MNDY opened at $72.39 on Wednesday. The stock’s 50-day moving average price is $75.30 and its two-hundred day moving average price is $91.83. monday.com Ltd. has a 12 month low of $57.50 and a 12 month high of $314.99. The company has a market capitalization of $3.70 billion, a PE ratio of 31.47, a PEG ratio of 3.68 and a beta of 1.24.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Friday, March 13th. The company reported $1.15 earnings per share for the quarter. monday.com had a return on equity of 5.10% and a net margin of 9.17%.The company had revenue of $351.26 million during the quarter. Equities research analysts predict that monday.com Ltd. will post 1.59 EPS for the current fiscal year.

monday.com Profile

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.