Franklin Resources Inc. Trims Stock Position in monday.com Ltd. (NASDAQ:MNDY)

Franklin Resources Inc. trimmed its stake in monday.com Ltd. (NASDAQ:MNDY) by 10.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,871,624 shares of the company’s stock after selling 214,611 shares during the period. Franklin Resources Inc.’s holdings in monday.com were worth $546,009,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of MNDY. Mirae Asset Global Investments Co. Ltd. purchased a new stake in monday.com in the third quarter worth about $43,000. Ridgewood Investments LLC purchased a new position in shares of monday.com in the 2nd quarter valued at approximately $45,000. Gilliland Jeter Wealth Management LLC lifted its stake in shares of monday.com by 72.9% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after purchasing an additional 102 shares during the period. Toronto Dominion Bank bought a new stake in shares of monday.com during the second quarter valued at approximately $120,000. Finally, Vestcor Inc grew its stake in monday.com by 31.4% in the third quarter. Vestcor Inc now owns 519 shares of the company’s stock worth $144,000 after purchasing an additional 124 shares during the period. Institutional investors own 73.70% of the company’s stock.

Wall Street Analyst Weigh In

MNDY has been the subject of several recent research reports. Citigroup raised their price objective on monday.com from $296.00 to $327.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Scotiabank started coverage on shares of monday.com in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $325.00 price target for the company. Loop Capital upped their price objective on shares of monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Capital One Financial began coverage on shares of monday.com in a research note on Thursday, October 10th. They set an “overweight” rating and a $325.00 target price for the company. Finally, Barclays boosted their price target on monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Six analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, monday.com presently has a consensus rating of “Moderate Buy” and an average price target of $310.81.

monday.com Stock Performance

NASDAQ MNDY opened at $273.08 on Friday. monday.com Ltd. has a one year low of $170.00 and a one year high of $324.99. The stock has a 50-day moving average of $285.81 and a 200 day moving average of $258.11. The company has a market capitalization of $13.18 billion, a price-to-earnings ratio of 666.05, a PEG ratio of 7.75 and a beta of 1.25.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The firm had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. During the same period in the previous year, the business posted $0.15 earnings per share. The business’s revenue for the quarter was up 49.5% on a year-over-year basis. On average, equities analysts predict that monday.com Ltd. will post 0.85 earnings per share 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.