Lord Abbett & CO. LLC Sells 2,180 Shares of monday.com Ltd. (NASDAQ:MNDY)

Lord Abbett & CO. LLC trimmed its holdings in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 1.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 193,467 shares of the company's stock after selling 2,180 shares during the period. Lord Abbett & CO. LLC owned 0.40% of monday.com worth $53,739,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. China Universal Asset Management Co. Ltd. acquired a new position in shares of monday.com during the 3rd quarter worth about $1,667,000. International Assets Investment Management LLC acquired a new position in monday.com during the third quarter valued at approximately $21,989,000. Taylor Frigon Capital Management LLC bought a new stake in monday.com in the third quarter valued at approximately $1,311,000. Allspring Global Investments Holdings LLC raised its holdings in monday.com by 20.7% in the second quarter. Allspring Global Investments Holdings LLC now owns 72,564 shares of the company's stock worth $17,471,000 after purchasing an additional 12,460 shares during the period. Finally, Jennison Associates LLC boosted its position 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 worth $202,905,000 after purchasing an additional 318,837 shares in the last quarter. 73.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on MNDY shares. Tigress Financial raised their price objective on monday.com from $280.00 to $340.00 and gave the stock a "buy" rating in a research note on Wednesday, August 21st. Scotiabank initiated coverage on shares of monday.com in a research note on Tuesday, November 19th. They issued a "sector outperform" rating and a $325.00 target price for the company. DA Davidson reiterated a "neutral" rating and issued a $300.00 price objective on shares of monday.com in a report on Tuesday, November 12th. Citigroup boosted their price target on shares of monday.com from $296.00 to $327.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 25th. Finally, Capital One Financial began coverage on monday.com in a report on Thursday, October 10th. They issued an "overweight" rating and a $325.00 price objective for the company. Six equities research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $310.81.

monday.com Price Performance

MNDY traded down $8.96 on Friday, hitting $273.08. 488,853 shares of the stock were exchanged, compared to its average volume of 725,347. The firm 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. monday.com Ltd. has a 12 month low of $170.00 and a 12 month high of $324.99. The business has a 50-day moving average of $285.81 and a two-hundred day moving average of $258.36.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.24. The business had revenue of $251.00 million for the quarter, compared to analysts' expectations of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The firm's quarterly revenue was up 49.5% compared to the same quarter last year. During the same period last year, the firm posted $0.15 earnings per share. Equities research analysts expect that monday.com Ltd. will post 0.85 earnings per share for the current fiscal year.

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.