WCM Investment Management LLC Trims Stake in monday.com Ltd. (NASDAQ:MNDY)

WCM Investment Management LLC cut its holdings in monday.com Ltd. (NASDAQ:MNDY) by 3.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,061,614 shares of the company’s stock after selling 131,943 shares during the period. monday.com accounts for about 2.2% of WCM Investment Management LLC’s holdings, making the stock its 15th biggest position. WCM Investment Management LLC owned 0.08% of monday.com worth $955,657,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MNDY. FMR LLC raised its holdings in monday.com by 112.0% in the 3rd quarter. FMR LLC now owns 1,512,094 shares of the company’s stock valued at $420,014,000 after acquiring an additional 798,791 shares during the last quarter. SG Americas Securities LLC raised its holdings in monday.com by 1,024.7% in the 4th quarter. SG Americas Securities LLC now owns 476,392 shares of the company’s stock valued at $112,162,000 after acquiring an additional 434,035 shares during the last quarter. Jennison Associates LLC raised its holdings in monday.com by 77.5% in the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after acquiring an additional 318,837 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in monday.com by 431.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock valued at $107,176,000 after acquiring an additional 313,279 shares during the last quarter. Finally, International Assets Investment Management LLC acquired a new position in monday.com in the 3rd quarter valued at $21,989,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

monday.com Price Performance

NASDAQ MNDY opened at $258.24 on Friday. The company’s fifty day moving average is $249.33 and its two-hundred day moving average is $261.19. monday.com Ltd. has a 52-week low of $174.75 and a 52-week high of $324.99. The firm has a market capitalization of $12.47 billion, a price-to-earnings ratio of 629.85, a P/E/G ratio of 7.67 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The business had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. During the same period in the previous year, the business earned $0.15 EPS. The firm’s revenue was up 49.5% on a year-over-year basis. As a group, sell-side analysts expect that monday.com Ltd. will post 0.85 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Canaccord Genuity Group upped their price objective on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Piper Sandler dropped their price objective on monday.com from $350.00 to $345.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Jefferies Financial Group dropped their price objective on monday.com from $350.00 to $300.00 and set a “buy” rating for the company in a report on Tuesday, January 21st. Needham & Company LLC upped their price objective on monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company upped their price objective on monday.com from $330.00 to $340.00 and gave the stock an “overweight” rating in a report on Tuesday, January 21st. Five analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $310.68.

monday.com 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.