JPMorgan Chase & Co. Sells 337,799 Shares of monday.com Ltd. $MNDY

JPMorgan Chase & Co. reduced its stake in monday.com Ltd. (NASDAQ:MNDY) by 18.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,495,201 shares of the company’s stock after selling 337,799 shares during the quarter. JPMorgan Chase & Co.’s holdings in monday.com were worth $289,606,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Spire Wealth Management increased its position in monday.com by 7.5% in the second quarter. Spire Wealth Management now owns 615 shares of the company’s stock worth $193,000 after buying an additional 43 shares in the last quarter. CWM LLC lifted its position in shares of monday.com by 31.3% during the 2nd quarter. CWM LLC now owns 210 shares of the company’s stock valued at $66,000 after buying an additional 50 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of monday.com by 76.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $47,000 after buying an additional 65 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of monday.com by 40.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 233 shares of the company’s stock valued at $73,000 after acquiring an additional 67 shares during the period. Finally, Elevation Point Wealth Partners LLC increased its holdings in monday.com by 1.8% in the 2nd quarter. Elevation Point Wealth Partners LLC now owns 5,335 shares of the company’s stock worth $1,678,000 after acquiring an additional 95 shares in the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MNDY shares. Needham & Company LLC lowered their price target on shares of monday.com from $250.00 to $125.00 and set a “buy” rating on the stock in a report on Monday, February 9th. BTIG Research decreased their price objective on shares of monday.com from $210.00 to $135.00 and set a “buy” rating on the stock in a research report on Tuesday, February 10th. Canaccord Genuity Group dropped their target price on shares of monday.com from $190.00 to $140.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. Wolfe Research reiterated an “outperform” rating and issued a $95.00 price target on shares of monday.com in a research note on Monday, February 9th. Finally, Cantor Fitzgerald decreased their price target on monday.com from $148.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, February 10th. One equities research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, four have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, monday.com presently has a consensus rating of “Moderate Buy” and an average price target of $162.88.

monday.com Stock Performance

Shares of NASDAQ MNDY opened at $76.00 on Friday. The company has a market cap of $3.86 billion, a P/E ratio of 33.78, a P/E/G ratio of 1.42 and a beta of 1.25. monday.com Ltd. has a 52-week low of $68.68 and a 52-week high of $316.98. The firm’s fifty day moving average is $123.96 and its two-hundred day moving average is $162.98.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, February 9th. The company reported $1.04 EPS for the quarter, beating the consensus estimate of $0.91 by $0.13. monday.com had a net margin of 9.64% and a return on equity of 4.80%. The business had revenue of $333.88 million during the quarter, compared to the consensus estimate of $329.71 million. During the same quarter in the prior year, the firm earned $1.08 EPS. The business’s revenue was up 24.6% on a year-over-year basis. As a group, analysts forecast that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

monday.com Profile

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.