Principal Financial Group Inc. Lowers Stock Holdings in monday.com Ltd. (NASDAQ:MNDY)

Principal Financial Group Inc. trimmed its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 8.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,271 shares of the company’s stock after selling 218 shares during the quarter. Principal Financial Group Inc.’s holdings in monday.com were worth $552,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MNDY. Grove Bank & Trust purchased a new position in shares of monday.com in the 1st quarter valued at about $30,000. Signaturefd LLC boosted its stake in shares of monday.com by 157.1% in the 4th quarter. Signaturefd LLC now owns 144 shares of the company’s stock valued at $34,000 after buying an additional 88 shares during the period. First Horizon Advisors Inc. boosted its stake in shares of monday.com by 72.9% in the 1st quarter. First Horizon Advisors Inc. now owns 166 shares of the company’s stock valued at $40,000 after buying an additional 70 shares during the period. Loomis Sayles & Co. L P purchased a new position in shares of monday.com in the 4th quarter valued at about $44,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of monday.com by 32.7% in the 1st quarter. Farther Finance Advisors LLC now owns 211 shares of the company’s stock valued at $55,000 after buying an additional 52 shares during the period. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MNDY shares. JPMorgan Chase & Co. cut their target price on monday.com from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Jefferies Financial Group cut their target price on monday.com from $400.00 to $360.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Needham & Company LLC reissued a “buy” rating and set a $400.00 target price on shares of monday.com in a research report on Tuesday, May 13th. Loop Capital cut their target price on monday.com from $385.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, May 13th. Finally, UBS Group cut their target price on monday.com from $350.00 to $310.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 29th. Five investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $349.23.

monday.com Trading Up 0.7%

NASDAQ:MNDY opened at $291.80 on Monday. The firm has a market cap of $14.81 billion, a P/E ratio of 297.76, a PEG ratio of 105.59 and a beta of 1.30. The stock’s 50 day simple moving average is $296.33 and its 200-day simple moving average is $273.60. monday.com Ltd. has a 12-month low of $188.01 and a 12-month high of $342.64.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.40. monday.com had a return on equity of 7.87% and a net margin of 5.08%. The firm had revenue of $282.25 million for the quarter, compared to the consensus estimate of $275.93 million. During the same period in the previous year, the business earned $0.61 earnings per share. The company’s revenue for the quarter was up 30.2% compared to the same quarter last year. Research analysts forecast that monday.com Ltd. will post 0.46 EPS 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.