Sei Investments Co. Sells 35,193 Shares of monday.com Ltd. $MNDY

Sei Investments Co. trimmed its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 85.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,905 shares of the company’s stock after selling 35,193 shares during the period. Sei Investments Co.’s holdings in monday.com were worth $408,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of MNDY. State of Wyoming raised its stake in shares of monday.com by 96.6% in the first quarter. State of Wyoming now owns 3,497 shares of the company’s stock valued at $242,000 after buying an additional 1,718 shares during the period. ABN Amro Investment Solutions bought a new position in monday.com during the first quarter worth about $2,164,000. S&CO Inc. boosted its position in monday.com by 68.9% during the first quarter. S&CO Inc. now owns 11,615 shares of the company’s stock worth $802,000 after purchasing an additional 4,740 shares during the period. SEB Asset Management AB purchased a new position in shares of monday.com in the first quarter worth about $1,639,000. Finally, Swiss National Bank increased its stake in shares of monday.com by 28.6% in the first quarter. Swiss National Bank now owns 159,100 shares of the company’s stock worth $10,995,000 after purchasing an additional 35,400 shares in the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

monday.com Trading Down 7.2%

MNDY stock opened at $87.52 on Friday. The firm has a 50 day moving average of $80.70 and a 200-day moving average of $78.58. The firm has a market capitalization of $4.48 billion, a P/E ratio of 37.24, a price-to-earnings-growth ratio of 2.21 and a beta of 1.24. monday.com Ltd. has a 12 month low of $57.50 and a 12 month high of $220.80.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, August 10th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.37. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The business had revenue of $364.62 million for the quarter, compared to analyst estimates of $355.55 million. During the same quarter in the prior year, the firm posted $1.09 EPS. monday.com’s revenue was up 21.9% on a year-over-year basis. Sell-side analysts predict that monday.com Ltd. will post 2.09 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on MNDY. Zacks Research upgraded shares of monday.com from a “hold” rating to a “strong-buy” rating in a research note on Wednesday. Wall Street Zen upgraded shares of monday.com from a “hold” rating to a “buy” rating in a research note on Sunday, July 12th. Canaccord Genuity Group lowered their target price on shares of monday.com from $140.00 to $115.00 and set a “buy” rating on the stock in a report on Tuesday, May 12th. Wells Fargo & Company dropped their target price on monday.com from $130.00 to $120.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 11th. Finally, Cantor Fitzgerald lowered monday.com from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $112.00 to $90.00 in a report on Monday, August 10th. One research analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $117.91.

Key Stories Impacting monday.com

Here are the key news stories impacting monday.com this week:

• Positive Sentiment: Zacks upgraded monday.com to “Strong Buy.” The upgrade reflects improving earnings expectations and could attract additional investor interest. Zacks.com
• Positive Sentiment: Rising earnings estimates are providing a near-term catalyst. Zacks said upward revisions to forecasts indicate that MNDY’s shares may continue moving higher. Rising Earnings Estimates
• Positive Sentiment: Zacks cited growing earnings optimism in assigning MNDY its highest rank. The upgrade to Zacks Rank #1, or “Strong Buy,” reinforces the improving fundamental outlook. Zacks Strong Buy Upgrade
• Positive Sentiment: Analysts’ average price target implies approximately 26.2% potential upside. The estimate is a positive sentiment indicator, although price targets are not guaranteed and can change. Analyst Price Target
• Positive Sentiment: BTIG and TD Cowen reiterated “Buy” ratings, maintaining institutional support for monday.com. BTIG Buy Rating TD Cowen Buy Rating
• Negative Sentiment: Wells Fargo lowered its expectations for MNDY’s stock price, while Citigroup issued a pessimistic forecast. These actions may weigh on sentiment and offset some of the recent bullish analyst commentary. Wells Fargo Forecast Citigroup Forecast

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.