J. Safra Sarasin Holding AG Purchases 19,034 Shares of monday.com Ltd. $MNDY

J. Safra Sarasin Holding AG boosted its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 67.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,068 shares of the company’s stock after acquiring an additional 19,034 shares during the period. J. Safra Sarasin Holding AG’s holdings in monday.com were worth $9,117,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its position in shares of monday.com by 9.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,833,000 shares of the company’s stock worth $576,442,000 after purchasing an additional 150,987 shares during the last quarter. Rubicon Global Capital Ltd boosted its position in shares of monday.com by 155.3% in the second quarter. Rubicon Global Capital Ltd now owns 1,442,900 shares of the company’s stock valued at $453,763,000 after acquiring an additional 877,700 shares during the period. Baillie Gifford & Co. raised its stake in monday.com by 136.5% during the 3rd quarter. Baillie Gifford & Co. now owns 708,278 shares of the company’s stock valued at $137,186,000 after purchasing an additional 408,848 shares during the last quarter. State Street Corp raised its stake in monday.com by 5.4% during the 2nd quarter. State Street Corp now owns 661,265 shares of the company’s stock valued at $207,955,000 after purchasing an additional 33,963 shares during the last quarter. Finally, Alliancebernstein L.P. boosted its holdings in monday.com by 4.2% in the 2nd quarter. Alliancebernstein L.P. now owns 605,510 shares of the company’s stock valued at $190,421,000 after purchasing an additional 24,624 shares during the period. 73.70% of the stock is owned by institutional investors and hedge funds.

monday.com Price Performance

monday.com stock opened at $130.06 on Tuesday. monday.com Ltd. has a 52-week low of $123.45 and a 52-week high of $342.64. The stock has a fifty day moving average price of $145.27 and a two-hundred day moving average price of $185.44. The firm has a market capitalization of $6.60 billion, a P/E ratio of 105.74, a P/E/G ratio of 2.97 and a beta of 1.26.

monday.com (NASDAQ:MNDY) last announced its earnings results on Monday, November 10th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.27. monday.com had a net margin of 5.58% and a return on equity of 5.99%. The business had revenue of $316.86 million during the quarter, compared to analysts’ expectations of $312.26 million. During the same quarter last year, the company posted $0.85 EPS. The firm’s revenue for the quarter was up 26.3% on a year-over-year basis. On average, equities research analysts predict that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on MNDY. Citigroup dropped their price objective on shares of monday.com from $319.00 to $293.00 and set a “buy” rating on the stock in a report on Tuesday, December 23rd. BTIG Research reissued a “buy” rating and set a $210.00 target price on shares of monday.com in a research report on Thursday, January 15th. Jefferies Financial Group cut their price target on monday.com from $300.00 to $260.00 and set a “buy” rating for the company in a report on Monday, January 5th. UBS Group set a $202.00 price objective on monday.com in a report on Tuesday, November 11th. Finally, JPMorgan Chase & Co. lowered their price objective on monday.com from $285.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, November 11th. Twenty-one research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $251.04.

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.