Rep. Michael Guest Purchases Shares of monday.com Ltd. (NASDAQ:MNDY)

Representative Michael Guest (R-Mississippi) recently bought shares of monday.com Ltd. (NASDAQ:MNDY). In a filing disclosed on December 20th, the Representative disclosed that they had bought between $1,001 and $15,000 in monday.com stock on November 8th. The trade occurred in the Representative’s “TR – D1” account.

Representative Michael Guest also recently made the following trade(s):

• Purchased $1,001 – $15,000 in shares of Amazon.com (NASDAQ:AMZN) on 11/8/2024.
• Purchased $1,001 – $15,000 in shares of Tesla (NASDAQ:TSLA) on 11/8/2024.

monday.com Price Performance

Shares of MNDY traded up $1.31 during mid-day trading on Tuesday, reaching $233.16. The company’s stock had a trading volume of 155,766 shares, compared to its average volume of 750,397. The company’s 50 day moving average is $281.04 and its 200 day moving average is $259.32. The stock has a market cap of $11.26 billion, a PE ratio of 568.68, a price-to-earnings-growth ratio of 7.61 and a beta of 1.25. monday.com Ltd. has a 12-month low of $170.00 and a 12-month high of $324.99.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, November 11th. The company reported $0.85 earnings per share (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 business had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $246.17 million. During the same quarter in the prior year, the business posted $0.15 EPS. The company’s revenue for the quarter was up 49.5% on a year-over-year basis. As a group, sell-side analysts anticipate that monday.com Ltd. will post 0.85 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Canaccord Genuity Group upped their target price on monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. TD Cowen upped their target price on shares of monday.com from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Citigroup reduced their price objective on monday.com from $338.00 to $302.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Capital One Financial assumed coverage on shares of monday.com in a research report on Thursday, October 10th. They issued an “overweight” rating and a $325.00 price objective on the stock. Finally, William Blair restated an “outperform” rating on shares of monday.com in a research report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, monday.com has a consensus rating of “Moderate Buy” and an average price target of $309.14.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Raymond James & Associates boosted its holdings in monday.com by 9.8% in the second quarter. Raymond James & Associates now owns 31,845 shares of the company’s stock valued at $7,667,000 after acquiring an additional 2,850 shares during the last quarter. McAdam LLC purchased a new stake in shares of monday.com during the 2nd quarter worth about $611,000. Bank of New York Mellon Corp increased its position in monday.com by 171.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 273,877 shares of the company’s stock worth $65,938,000 after purchasing an additional 172,919 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in monday.com by 20.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 72,564 shares of the company’s stock worth $17,471,000 after buying an additional 12,460 shares during the period. Finally, ARK Investment Management LLC lifted its holdings in shares of monday.com by 5.9% during the 2nd quarter. ARK Investment Management LLC now owns 11,742 shares of the company’s stock valued at $2,827,000 after acquiring an additional 650 shares in the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

About Representative Guest

Michael Guest (Republican Party) is a member of the U.S. House, representing Mississippi’s 3rd Congressional District. He assumed office on January 3, 2019. His current term ends on January 3, 2025. Guest (Republican Party) ran for re-election to the U.S. House to represent Mississippi’s 3rd Congressional District. He won in the general election on November 8, 2022. Guest received his bachelor’s degree from Mississippi State University in 1992. He received his J.D. from the University of Mississippi in 1995. He served as an assistant district attorney for Madison and Rankin counties in Mississippi from 1995 to 2007. He was elected district attorney of these counties in 2007. In 2018, Guest defeated Michael Evans (D) to replace outgoing incumbent Gregg Harper (R).

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.