Nellore Capital Management LLC Acquires New Stake in monday.com Ltd. (NASDAQ:MNDY)

Nellore Capital Management LLC bought a new position in monday.com Ltd. (NASDAQ:MNDY) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 5,000 shares of the company’s stock, valued at approximately $1,177,000. monday.com comprises about 0.2% of Nellore Capital Management LLC’s investment portfolio, making the stock its 16th largest position.

Other large investors have also made changes to their positions in the company. Clearbridge Investments LLC grew its position in monday.com by 0.3% during the fourth quarter. Clearbridge Investments LLC now owns 13,501 shares of the company’s stock valued at $3,179,000 after buying an additional 44 shares during the period. Prudential Financial Inc. boosted its stake in shares of monday.com by 1.3% during the 4th quarter. Prudential Financial Inc. now owns 4,122 shares of the company’s stock worth $970,000 after acquiring an additional 53 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of monday.com by 64.8% during the 4th quarter. Global Retirement Partners LLC now owns 150 shares of the company’s stock valued at $35,000 after acquiring an additional 59 shares during the period. Venturi Wealth Management LLC increased its stake in shares of monday.com by 7.6% in the 4th quarter. Venturi Wealth Management LLC now owns 1,076 shares of the company’s stock worth $253,000 after purchasing an additional 76 shares in the last quarter. Finally, Vestcor Inc increased its stake in shares of monday.com by 16.0% in the 4th quarter. Vestcor Inc now owns 602 shares of the company’s stock worth $142,000 after purchasing an additional 83 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors.

monday.com Stock Up 4.1%

Shares of MNDY opened at $290.49 on Wednesday. monday.com Ltd. has a 52-week low of $181.00 and a 52-week high of $342.64. The company has a market cap of $14.75 billion, a PE ratio of 484.15, a P/E/G ratio of 16.53 and a beta of 1.32. The business has a fifty day moving average of $256.40 and a 200 day moving average of $265.30.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.40. monday.com had a net margin of 3.33% and a return on equity of 6.22%. The firm had revenue of $282.25 million during the quarter, compared to analysts’ expectations of $275.93 million. During the same period in the previous year, the company earned $0.61 EPS. The firm’s revenue for the quarter was up 30.2% compared to the same quarter last year. As a group, research analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the company. Barclays reduced their price target on monday.com from $360.00 to $345.00 and set an “overweight” rating for the company in a research report on Tuesday. Loop Capital decreased their target price on shares of monday.com from $385.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday. Needham & Company LLC reaffirmed a “buy” rating and set a $400.00 price target on shares of monday.com in a report on Tuesday. Jefferies Financial Group reduced their price objective on shares of monday.com from $400.00 to $360.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Finally, Wells Fargo & Company lifted their target price on shares of monday.com from $310.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday. Three equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $346.50.

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.