Lord Abbett & CO. LLC Decreases Stock Holdings in monday.com Ltd. (NASDAQ:MNDY)

Lord Abbett & CO. LLC lessened its position in monday.com Ltd. (NASDAQ:MNDY) by 1.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 193,467 shares of the company’s stock after selling 2,180 shares during the period. Lord Abbett & CO. LLC’s holdings in monday.com were worth $53,739,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of monday.com by 112.0% during the third quarter. FMR LLC now owns 1,512,094 shares of the company’s stock worth $420,014,000 after purchasing an additional 798,791 shares during the period. Jennison Associates LLC increased its stake in shares of monday.com by 77.5% during the third quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after buying an additional 318,837 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in monday.com by 431.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock worth $107,176,000 after acquiring an additional 313,279 shares during the period. Renaissance Technologies LLC increased its position in monday.com by 20.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock valued at $270,299,000 after purchasing an additional 188,800 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in shares of monday.com by 171.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 273,877 shares of the company’s stock worth $65,938,000 after purchasing an additional 172,919 shares during the period. Institutional investors own 73.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on MNDY shares. Oppenheimer increased their price target on shares of monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Needham & Company LLC lifted their price target on monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Wells Fargo & Company increased their price objective on monday.com from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Tigress Financial raised their price objective on monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, TD Cowen upped their target price on shares of monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $310.81.

monday.com Stock Performance

MNDY opened at $273.08 on Friday. The stock has a market capitalization of $13.18 billion, a price-to-earnings ratio of 666.05, a PEG ratio of 7.75 and a beta of 1.25. The company has a fifty day moving average of $285.81 and a 200 day moving average of $258.24. monday.com Ltd. has a fifty-two week low of $170.00 and a fifty-two week high of $324.99.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. The firm had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The business’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 earnings per share. On average, equities research analysts forecast that monday.com Ltd. will post 0.85 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.