Bank of New York Mellon Corp Buys 8,329 Shares of monday.com Ltd. (NASDAQ:MNDY)

Bank of New York Mellon Corp increased its holdings in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 3.4% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 255,455 shares of the company's stock after buying an additional 8,329 shares during the quarter. Bank of New York Mellon Corp owned about 0.53% of monday.com worth $60,144,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of MNDY. Mirae Asset Global Investments Co. Ltd. bought a new stake in monday.com in the 3rd quarter worth about $43,000. abrdn plc bought a new stake in shares of monday.com during the 3rd quarter valued at about $269,000. US Bancorp DE grew its stake in shares of monday.com by 5.3% during the 3rd quarter. US Bancorp DE now owns 17,780 shares of the company's stock valued at $4,939,000 after purchasing an additional 899 shares during the period. New York State Common Retirement Fund grew its stake in shares of monday.com by 7.2% during the 3rd quarter. New York State Common Retirement Fund now owns 68,247 shares of the company's stock valued at $18,957,000 after purchasing an additional 4,606 shares during the period. Finally, Janney Montgomery Scott LLC bought a new stake in shares of monday.com during the 3rd quarter valued at about $1,001,000. 73.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MNDY shares. Jefferies Financial Group boosted their price target on monday.com from $300.00 to $400.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Citigroup upgraded monday.com from a "neutral" rating to a "buy" rating and cut their price target for the company from $302.00 to $298.00 in a research note on Thursday, January 16th. Canaccord Genuity Group boosted their price target on monday.com from $310.00 to $375.00 and gave the company a "buy" rating in a research note on Tuesday, February 11th. Cantor Fitzgerald boosted their price target on monday.com from $292.00 to $380.00 and gave the company an "overweight" rating in a research note on Tuesday, February 11th. Finally, Barclays lifted their price objective on monday.com from $325.00 to $360.00 and gave the company an "overweight" rating in a research report on Tuesday, February 11th. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $358.32.

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monday.com Stock Performance

Shares of MNDY traded down $1.74 during mid-day trading on Friday, hitting $252.26. 1,465,726 shares of the stock were exchanged, compared to its average volume of 751,072. The company has a market cap of $12.18 billion, a PE ratio of 420.43, a price-to-earnings-growth ratio of 16.53 and a beta of 1.27. monday.com Ltd. has a 52-week low of $174.75 and a 52-week high of $342.64. The firm has a 50-day moving average of $264.55 and a two-hundred day moving average of $270.29.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings data on Monday, February 10th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a return on equity of 6.22% and a net margin of 3.33%. On average, sell-side analysts predict that monday.com Ltd. will post 0.46 EPS for the current year.

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.