Cetera Investment Advisers Grows Stake in monday.com Ltd. (NASDAQ:MNDY)

Cetera Investment Advisers lifted its holdings in shares of monday.com Ltd. (NASDAQ:MNDY) by 4.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,330 shares of the company’s stock after acquiring an additional 182 shares during the quarter. Cetera Investment Advisers’ holdings in monday.com were worth $1,053,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Grove Bank & Trust acquired a new position in monday.com in the first quarter valued at approximately $30,000. First Horizon Advisors Inc. grew its position in monday.com by 72.9% during the 1st quarter. First Horizon Advisors Inc. now owns 166 shares of the company’s stock worth $40,000 after purchasing an additional 70 shares in the last quarter. Signaturefd LLC grew its position in monday.com by 50.7% during the 1st quarter. Signaturefd LLC now owns 217 shares of the company’s stock worth $53,000 after purchasing an additional 73 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in shares of monday.com by 32.7% during the 1st quarter. Farther Finance Advisors LLC now owns 211 shares of the company’s stock valued at $55,000 after acquiring an additional 52 shares in the last quarter. Finally, Opal Wealth Advisors LLC bought a new stake in monday.com in the first quarter worth $64,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

monday.com Stock Down 29.8%

Shares of monday.com stock opened at $174.13 on Tuesday. monday.com Ltd. has a twelve month low of $173.20 and a twelve month high of $342.64. The company has a 50-day simple moving average of $287.11 and a two-hundred day simple moving average of $276.86. The stock has a market capitalization of $8.84 billion, a price-to-earnings ratio of 177.68, a price-to-earnings-growth ratio of 89.75 and a beta of 1.27.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, August 11th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.84 by $0.25. The business had revenue of $299.01 million for the quarter, compared to analysts’ expectations of $293.60 million. monday.com had a net margin of 5.08% and a return on equity of 7.87%. The firm’s quarterly revenue was up 26.6% compared to the same quarter last year. During the same period last year, the firm posted $0.94 earnings per share. On average, sell-side analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MNDY. Jefferies Financial Group reissued a “buy” rating and set a $330.00 target price on shares of monday.com in a research report on Monday. Wells Fargo & Company set a $365.00 price target on shares of monday.com and gave the company an “overweight” rating in a research note on Friday, June 13th. KeyCorp restated an “overweight” rating and issued a $330.00 price objective on shares of monday.com in a report on Monday. Morgan Stanley initiated coverage on shares of monday.com in a report on Tuesday, June 17th. They set an “equal weight” rating and a $330.00 price objective on the stock. Finally, DA Davidson decreased their target price on shares of monday.com from $350.00 to $290.00 and set a “buy” rating for the company in a research report on Monday, April 14th. Three equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $334.68.

About monday.com

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.