Neuberger Berman Group LLC Has $116.30 Million Stake in monday.com Ltd. $MNDY

Neuberger Berman Group LLC raised its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 33.2% in the third quarter, Holdings Channel reports. The fund owned 600,255 shares of the company’s stock after buying an additional 149,636 shares during the quarter. Neuberger Berman Group LLC’s holdings in monday.com were worth $116,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. Integrated Quantitative Investments LLC lifted its position in shares of monday.com by 84.6% during the 3rd quarter. Integrated Quantitative Investments LLC now owns 5,220 shares of the company’s stock worth $1,011,000 after purchasing an additional 2,392 shares during the last quarter. KCM Investment Advisors LLC grew its holdings in monday.com by 38.4% in the 3rd quarter. KCM Investment Advisors LLC now owns 4,937 shares of the company’s stock valued at $956,000 after buying an additional 1,370 shares during the last quarter. NZS Capital LLC grew its holdings in monday.com by 415.4% in the 3rd quarter. NZS Capital LLC now owns 65,087 shares of the company’s stock valued at $12,607,000 after buying an additional 52,459 shares during the last quarter. Rafferty Asset Management LLC increased its position in monday.com by 5.3% in the 3rd quarter. Rafferty Asset Management LLC now owns 1,802 shares of the company’s stock worth $349,000 after buying an additional 91 shares during the period. Finally, Quantbot Technologies LP acquired a new position in shares of monday.com during the third quarter worth approximately $7,009,000. 73.70% of the stock is currently owned by institutional investors.

monday.com Stock Performance

NASDAQ:MNDY opened at $78.70 on Friday. The company has a 50-day moving average of $107.87 and a 200-day moving average of $152.64. monday.com Ltd. has a 52 week low of $68.68 and a 52 week high of $316.98. The company has a market capitalization of $4.00 billion, a price-to-earnings ratio of 34.98, a PEG ratio of 1.45 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, February 9th. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. The business had revenue of $333.88 million for the quarter, compared to analysts’ expectations of $329.71 million. monday.com had a net margin of 9.64% and a return on equity of 4.80%. The firm’s revenue for the quarter was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.08 earnings per share. Sell-side analysts forecast that monday.com Ltd. will post 0.46 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on MNDY. Needham & Company LLC lowered their price objective on shares of monday.com from $250.00 to $125.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. BTIG Research reduced their price target on shares of monday.com from $210.00 to $135.00 and set a “buy” rating for the company in a report on Tuesday, February 10th. UBS Group decreased their price target on shares of monday.com from $140.00 to $93.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 10th. Piper Sandler dropped their price objective on shares of monday.com from $170.00 to $100.00 and set an “overweight” rating on the stock in a report on Tuesday, February 10th. Finally, Tigress Financial upped their price objective on shares of monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Nineteen equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, monday.com presently has a consensus rating of “Moderate Buy” and a consensus price target of $155.38.

monday.com Profile

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.