Connable Office Inc. Sells 246 Shares of monday.com Ltd. $MNDY

Connable Office Inc. decreased its stake in monday.com Ltd. (NASDAQ:MNDY) by 6.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,329 shares of the company’s stock after selling 246 shares during the period. Connable Office Inc.’s holdings in monday.com were worth $1,047,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of monday.com by 102.5% during the first quarter. JPMorgan Chase & Co. now owns 1,682,013 shares of the company’s stock worth $408,999,000 after buying an additional 851,231 shares during the period. Public Sector Pension Investment Board increased its position in shares of monday.com by 8.7% during the first quarter. Public Sector Pension Investment Board now owns 18,661 shares of the company’s stock worth $4,538,000 after buying an additional 1,500 shares during the period. Neuberger Berman Group LLC increased its position in shares of monday.com by 34.5% during the first quarter. Neuberger Berman Group LLC now owns 408,960 shares of the company’s stock worth $99,443,000 after buying an additional 104,968 shares during the period. Price T Rowe Associates Inc. MD increased its position in shares of monday.com by 45.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,401,580 shares of the company’s stock worth $583,969,000 after buying an additional 745,686 shares during the period. Finally, Nuveen LLC acquired a new stake in monday.com in the first quarter worth $23,078,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on MNDY shares. Weiss Ratings restated a “sell (d)” rating on shares of monday.com in a report on Wednesday, October 8th. Oppenheimer started coverage on shares of monday.com in a report on Wednesday, August 27th. They issued an “outperform” rating and a $300.00 price target for the company. Cowen restated a “buy” rating on shares of monday.com in a report on Tuesday, August 12th. Citigroup raised their price target on shares of monday.com from $326.00 to $332.00 and gave the stock a “buy” rating in a report on Tuesday, September 30th. Finally, Zacks Research upgraded shares of monday.com from a “strong sell” rating to a “hold” rating in a report on Friday, October 10th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $290.81.

monday.com Price Performance

MNDY opened at $205.12 on Tuesday. The company’s 50-day moving average is $192.77 and its 200 day moving average is $244.46. monday.com Ltd. has a fifty-two week low of $166.22 and a fifty-two week high of $342.64. The firm has a market capitalization of $10.41 billion, a P/E ratio of 277.19, a PEG ratio of 9.70 and a beta of 1.24.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, August 11th. The company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.84 by $0.25. monday.com had a net margin of 3.63% and a return on equity of 6.32%. The company had revenue of $299.01 million for the quarter, compared to analyst estimates of $293.60 million. During the same period last year, the firm earned $0.94 earnings per share. The firm’s revenue was up 26.6% on a year-over-year basis. monday.com has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities research analysts expect that monday.com Ltd. will post 0.46 earnings per share for the current year.

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.