Prelude Capital Management LLC Takes Position in monday.com Ltd. (NASDAQ:MNDY)

Prelude Capital Management LLC purchased a new position in shares of monday.com Ltd. (NASDAQ:MNDY) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,248 shares of the company’s stock, valued at approximately $321,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its stake in shares of monday.com by 98.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 2,684,101 shares of the company’s stock worth $383,156,000 after acquiring an additional 1,332,770 shares during the last quarter. Insight Holdings Group LLC increased its position in monday.com by 6.0% in the 4th quarter. Insight Holdings Group LLC now owns 13,721,287 shares of the company’s stock worth $1,673,997,000 after purchasing an additional 772,450 shares during the last quarter. Acadian Asset Management LLC increased its position in monday.com by 11,795.2% in the 1st quarter. Acadian Asset Management LLC now owns 437,980 shares of the company’s stock worth $62,498,000 after purchasing an additional 434,298 shares during the last quarter. Schonfeld Strategic Advisors LLC acquired a new stake in shares of monday.com during the 1st quarter valued at about $48,095,000. Finally, 1832 Asset Management L.P. lifted its holdings in shares of monday.com by 44.6% during the 4th quarter. 1832 Asset Management L.P. now owns 893,500 shares of the company’s stock valued at $109,007,000 after buying an additional 275,800 shares during the last quarter. 81.30% of the stock is owned by hedge funds and other institutional investors.

monday.com Trading Down 0.4 %

Shares of NASDAQ MNDY opened at $163.38 on Monday. The firm has a market capitalization of $7.21 billion, a price-to-earnings ratio of -163.38 and a beta of 0.77. monday.com Ltd. has a one year low of $73.58 and a one year high of $189.15. The business has a fifty day simple moving average of $170.44 and a 200 day simple moving average of $156.08.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, August 14th. The company reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.24. monday.com had a negative net margin of 7.40% and a negative return on equity of 6.92%. The firm had revenue of $175.70 million for the quarter, compared to analyst estimates of $169.25 million. During the same quarter in the previous year, the firm posted ($1.01) EPS. The business’s revenue for the quarter was up 42.0% on a year-over-year basis. On average, research analysts anticipate that monday.com Ltd. will post -1.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

MNDY has been the topic of several recent research reports. Needham & Company LLC reaffirmed a “buy” rating and set a $230.00 price objective on shares of monday.com in a research report on Tuesday, August 15th. Jefferies Financial Group upped their price objective on shares of monday.com from $150.00 to $180.00 and gave the stock a “hold” rating in a report on Tuesday, August 15th. DA Davidson raised their target price on monday.com from $160.00 to $170.00 and gave the company a “neutral” rating in a report on Tuesday, August 15th. TD Cowen raised their price objective on monday.com from $215.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, August 15th. Finally, KeyCorp upped their target price on monday.com from $200.00 to $211.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 15th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $196.56.

monday.com Company Profile

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, and internationally. It 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.