Lisanti Capital Growth LLC Sells 3,175 Shares of monday.com Ltd. (NASDAQ:MNDY)

Lisanti Capital Growth LLC cut its position in monday.com Ltd. (NASDAQ:MNDY) by 35.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,840 shares of the company’s stock after selling 3,175 shares during the period. Lisanti Capital Growth LLC’s holdings in monday.com were worth $1,097,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. Desjardins Global Asset Management Inc. boosted its stake in monday.com by 222.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the company’s stock worth $25,000 after purchasing an additional 91 shares in the last quarter. Crewe Advisors LLC increased its position in monday.com by 44.9% in the 3rd quarter. Crewe Advisors LLC now owns 229 shares of the company’s stock valued at $36,000 after acquiring an additional 71 shares in the last quarter. Sandy Spring Bank bought a new position in shares of monday.com in the third quarter worth about $72,000. Allspring Global Investments Holdings LLC acquired a new position in shares of monday.com during the third quarter worth approximately $118,000. Finally, DekaBank Deutsche Girozentrale grew its stake in shares of monday.com by 21.0% during the third quarter. DekaBank Deutsche Girozentrale now owns 834 shares of the company’s stock valued at $131,000 after purchasing an additional 145 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MNDY. Citigroup downgraded monday.com from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $277.00 to $250.00 in a research report on Wednesday, April 10th. Piper Sandler restated an “overweight” rating and issued a $250.00 price objective on shares of monday.com in a report on Tuesday, February 13th. Bank of America assumed coverage on shares of monday.com in a report on Monday, February 26th. They set a “buy” rating and a $280.00 target price for the company. KeyCorp initiated coverage on monday.com in a research note on Thursday, March 21st. They issued an “overweight” rating and a $275.00 price target on the stock. Finally, Tigress Financial upped their price objective on monday.com from $240.00 to $280.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, monday.com presently has an average rating of “Moderate Buy” and an average price target of $240.00.

monday.com Price Performance

monday.com stock traded down $4.17 during trading hours on Tuesday, hitting $190.37. The company had a trading volume of 466,851 shares, compared to its average volume of 794,964. monday.com Ltd. has a one year low of $117.80 and a one year high of $239.22. The firm has a market cap of $9.19 billion, a PE ratio of -2,758.46 and a beta of 1.24. The firm has a 50-day moving average of $209.34 and a 200 day moving average of $192.25.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, February 12th. The company reported $0.65 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.33. monday.com had a negative net margin of 0.26% and a negative return on equity of 0.43%. The business had revenue of $202.60 million for the quarter, compared to analyst estimates of $197.97 million. During the same period last year, the firm earned ($0.03) earnings per share. monday.com’s revenue for the quarter was up 35.5% compared to the same quarter last year. As a group, research analysts expect that monday.com Ltd. will post -0.16 earnings per share for the current year.

monday.com Profile

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.