monday.com Ltd. (NASDAQ:MNDY) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its stake in monday.com Ltd. (NASDAQ:MNDY) by 35.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 53,306 shares of the company’s stock after acquiring an additional 14,059 shares during the quarter. Principal Financial Group Inc.’s holdings in monday.com were worth $14,807,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. WoodTrust Financial Corp acquired a new position in monday.com in the third quarter valued at $215,000. Jackson Square Capital LLC boosted its position in shares of monday.com by 153.7% in the third quarter. Jackson Square Capital LLC now owns 15,955 shares of the company’s stock worth $4,432,000 after buying an additional 9,666 shares during the period. M&G PLC purchased a new stake in shares of monday.com in the third quarter worth about $9,921,000. United Advisor Group LLC purchased a new position in monday.com in the third quarter valued at about $208,000. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in monday.com by 6.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 36,572 shares of the company’s stock valued at $10,159,000 after purchasing an additional 2,196 shares during the last quarter. 73.70% of the stock is owned by institutional investors and hedge funds.

monday.com Trading Down 2.2 %

Shares of NASDAQ:MNDY opened at $262.89 on Friday. monday.com Ltd. has a 1 year low of $166.86 and a 1 year high of $324.99. The business has a fifty day simple moving average of $280.53 and a 200 day simple moving average of $248.14. The firm has a market cap of $12.69 billion, a price-to-earnings ratio of 641.20, a P/E/G ratio of 12.55 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The business had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. During the same period last year, the company earned $0.15 earnings per share. monday.com’s quarterly revenue was up 49.5% compared to the same quarter last year. On average, sell-side analysts forecast that monday.com Ltd. will post 0.5 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Wells Fargo & Company upped their price objective on monday.com from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Tigress Financial increased their price objective on monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Oppenheimer increased their price target on monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Barclays increased their price target on monday.com from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Finally, Piper Sandler increased their price target on monday.com from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, monday.com presently has an average rating of “Moderate Buy” and an average target price of $310.10.

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.