Coronation Fund Managers Ltd. Trims Stake in monday.com Ltd. (NASDAQ:MNDY)

Coronation Fund Managers Ltd. lowered its holdings in shares of monday.com Ltd. (NASDAQ:MNDY) by 20.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,750 shares of the company’s stock after selling 6,237 shares during the period. Coronation Fund Managers Ltd. owned approximately 0.05% of monday.com worth $5,959,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in MNDY. Truist Financial Corp lifted its stake in shares of monday.com by 4.1% in the second quarter. Truist Financial Corp now owns 4,993 shares of the company’s stock worth $1,202,000 after buying an additional 195 shares in the last quarter. Mackenzie Financial Corp lifted its position in monday.com by 23.0% in the 2nd quarter. Mackenzie Financial Corp now owns 1,981 shares of the company’s stock valued at $477,000 after acquiring an additional 371 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in monday.com by 19.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 12,355 shares of the company’s stock valued at $2,975,000 after purchasing an additional 2,023 shares during the last quarter. MBB Public Markets I LLC increased its holdings in shares of monday.com by 93.9% in the 2nd quarter. MBB Public Markets I LLC now owns 1,970 shares of the company’s stock worth $474,000 after purchasing an additional 954 shares in the last quarter. Finally, Eminence Capital LP raised its stake in shares of monday.com by 1.4% in the second quarter. Eminence Capital LP now owns 470,717 shares of the company’s stock worth $113,330,000 after purchasing an additional 6,349 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on MNDY. TD Cowen increased their price objective on monday.com from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. The Goldman Sachs Group lifted their price target on shares of monday.com from $300.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. DA Davidson increased their price objective on shares of monday.com from $250.00 to $300.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 target price on shares of monday.com in a research report on Thursday, September 26th. Finally, Wolfe Research started coverage on monday.com in a report on Tuesday, July 9th. They set an “outperform” rating and a $300.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $296.16.

monday.com Trading Down 3.1 %

NASDAQ:MNDY opened at $269.14 on Wednesday. The stock has a 50-day moving average price of $251.96 and a 200 day moving average price of $229.91. The stock has a market capitalization of $12.99 billion, a P/E ratio of 708.26, a P/E/G ratio of 13.58 and a beta of 1.32. monday.com Ltd. has a 12-month low of $122.13 and a 12-month high of $285.64.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.23. monday.com had a net margin of 4.88% and a return on equity of 4.74%. The business had revenue of $236.11 million during the quarter, compared to analyst estimates of $227.96 million. On average, research analysts predict that monday.com Ltd. will post 0.49 earnings per share for the current fiscal year.

monday.com Company Profile

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.