Palumbo Wealth Management LLC Grows Stake in monday.com Ltd. (NASDAQ:MNDY)

Palumbo Wealth Management LLC raised its stake in monday.com Ltd. (NASDAQ:MNDY) by 45.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,670 shares of the company’s stock after purchasing an additional 1,145 shares during the quarter. Palumbo Wealth Management LLC’s holdings in monday.com were worth $864,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in MNDY. Stonebridge Financial Group LLC acquired a new position in shares of monday.com in the fourth quarter worth about $25,000. R Squared Ltd acquired a new position in shares of monday.com in the fourth quarter worth about $33,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of monday.com in the third quarter worth about $43,000. Vestcor Inc lifted its stake in shares of monday.com by 31.4% in the third quarter. Vestcor Inc now owns 519 shares of the company’s stock worth $144,000 after acquiring an additional 124 shares in the last quarter. Finally, Spire Wealth Management acquired a new position in shares of monday.com in the fourth quarter worth about $125,000. 73.70% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. DA Davidson boosted their price target on monday.com from $300.00 to $350.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 11th. Piper Sandler boosted their price target on monday.com from $345.00 to $385.00 and gave the stock an “overweight” rating in a research note on Monday, February 10th. JPMorgan Chase & Co. boosted their price target on monday.com from $350.00 to $400.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Cantor Fitzgerald boosted their price objective on monday.com from $292.00 to $380.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Finally, Wells Fargo & Company boosted their price objective on monday.com from $340.00 to $380.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $353.32.

monday.com Price Performance

Shares of MNDY stock opened at $318.50 on Friday. monday.com Ltd. has a 12-month low of $174.75 and a 12-month high of $342.64. The firm has a market capitalization of $15.38 billion, a price-to-earnings ratio of 776.83, a price-to-earnings-growth ratio of 7.67 and a beta of 1.31. The business has a 50 day simple moving average of $252.94 and a 200 day simple moving average of $264.30.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, February 10th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a return on equity of 4.99% and a net margin of 2.39%. On average, equities analysts anticipate that monday.com Ltd. will post 0.85 EPS for the current fiscal year.

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.