Oppenheimer & Co. Inc. Sells 1,519 Shares of monday.com Ltd. (NASDAQ:MNDY)

Oppenheimer & Co. Inc. decreased its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 21.8% during the third quarter, Holdings Channel reports. The firm owned 5,447 shares of the company’s stock after selling 1,519 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in monday.com were worth $1,513,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of monday.com during the 3rd quarter valued at $43,000. Ridgewood Investments LLC purchased a new stake in monday.com during the second quarter valued at $45,000. Gilliland Jeter Wealth Management LLC lifted its holdings in monday.com by 72.9% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after acquiring an additional 102 shares during the period. Opal Wealth Advisors LLC purchased a new position in monday.com in the second quarter worth about $69,000. Finally, Industrial Alliance Investment Management Inc. boosted its position in monday.com by 741.7% in the first quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock worth $91,000 after purchasing an additional 356 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Stock Down 2.2 %

monday.com stock opened at $262.89 on Monday. monday.com Ltd. has a 52-week low of $166.86 and a 52-week high of $324.99. The company has a market cap of $12.69 billion, a price-to-earnings ratio of 641.20, a PEG ratio of 12.26 and a beta of 1.31. The firm’s fifty day moving average is $280.53 and its 200 day moving average is $248.96.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.85 EPS 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 company had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. During the same period in the prior year, the firm posted $0.15 EPS. The firm’s revenue was up 49.5% compared to the same quarter last year. On average, equities research analysts anticipate that monday.com Ltd. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MNDY has been the topic of several recent research reports. Baird R W upgraded shares of monday.com to a “hold” rating in a research note on Tuesday, July 23rd. Piper Sandler lifted their price target on shares of monday.com from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. upped their price objective on monday.com from $270.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Bank of America lifted their target price on monday.com from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Tigress Financial upped their price target on monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.