monday.com offers a range of cloud-based products, including workflow management, CRM, and app development tools. Its Q2 results included beating consensus estimates and raising guidance above consensus targets. Reports highlight a 63% increase in large clients.
Who is investing in monday.com?
Renaissance Technologies LLC deserves a special mention, as they've seen an astounding 6,322.6% surge in ther position, now holding a remarkable 199,100 shares valued at $31,472,000.
In a noteworthy development, Bank of New York Mellon Corp has invested a substantial stake, approximately $8,834,000, in monday.com during the first quarter 2023.
BlackRock Inc. has shown impressive growth by increasing its position by a whopping 151.9%, now holding 33,300 shares valued at $5,264,000.
Dimensional Fund Advisors LP has joined the party with a new stake worth $590,000
Vanguard Group Inc. has significantly boosted its position by 240.1%, currently owning 8,922 shares valued at $1,410,000.
Level Four Advisory Services LLC recently acquired 2,594 shares of monday.com (NASDAQ:MNDY), and it's not just them! Several other institutional investors and hedge funds have also made strategic moves with their MNDY holdings.
It's worth noting that hedge funds and institutional investors now collectively own a substantial 81.30% of the company's stock.
Turning our attention to financial performance, monday.com (NASDAQ:MNDY) has delivered a stellar earnings report, surpassing expectations with an impressive EPS of $0.41 for the quarter, surpassing estimates by a substantial $0.24. The company has also achieved a remarkable 42.0% year-over-year revenue growth, with quarterly revenue reaching an impressive $175.70 million.
The expert opinion is unanimously positive, with several analysts offering enthusiastic endorsements for monday.com. JPMorgan Chase & Co. has not only raised the target price to $180.00 but also rated the stock as "overweight."
Piper Sandler is equally bullish, reaffirming an "overweight" rating with a $215.00 price target. KeyCorp has raised their price target to $211.00, maintaining an "overweight" rating.
DA Davidson has upped their price target to $170.00 while maintaining a "neutral" rating. Last but not least, Canaccord Genuity Group has set a target price of $195.00 and given the stock a "buy" rating. MarketBeat reflects this positivity with a consensus rating of "Moderate Buy" and an average price target of $196.56.
When it comes to monday.com, they're making waves on the global stage. They are developers of innovative software applications, offering a cloud-based visual work operating system called Work OS.
This system is comprised of modular building blocks that empower users to create customized software applications and efficient work management tools. The future looks promising for monday.com. as they continue to redefine work efficiency worldwide.
Fruition Services is a monday.com certified integration partner. Our team of expert monday.com consultants help transform businesses with specialisation in business workflow process design, implementation and integrations with monday.com
We Partner and support the Fortune 500 of the future, we serve clients across all industries and departments to scale and optimise inefficient business processes.
We pride ourselves on delivering world-class solutions that are scalable and cost-effective solution delivery to ensure faster time to value and return on your software investment.
Project Management: Large and small-scale PMO framework consulting and implementation, we have expertise in transforming internal and client project management, delivery & scheduling
Sales & CRM: Every CRM is unique, we focus on understanding your lead, quote to cash, opportunity pipeline management and integration with core systems like VoIP Telephony and Marketing tools like Hubspot Marketing, Hootsuite and many others.
Marketing: We help build a structured Marketing framework to connect your Marketing strategy and execution of campaigns to deliver measurable and reportable ROI.
Creative & Design: We help transform creative process workflows from Briefing in, traffic managing jobs, scheduling workloads, approvals and even managing your external agency collaboration.
Software Development & Product Management: We support all stages and methods of Product & software development use cases within monday.com including Ideation prioritisation, NPD, Agile project delivery, supply chain and collaborating with Marketing on GTM strategies and operations for inventory Control
Finance Teams: Elevate financial management with our tools: Budget Planning, Expense Management, Reporting, Invoicing, Cash Flow, Compliance, Supplier Management, Forecasting, Integration, and collaboration.
HR & Recruitment: Create structure in your HR team by creating processes and workflows for onboarding and recruitment, HR Requests and email management.
Customer Service & Call Centre: monday.com allows you to manage your entire customer service workflow including Ticketing and telephone integration with tools such as Aircall, Talkdesk and Twilio
IT Operations: Do more with less such as Helpdesk ticketing, Incident management, IT Project management, Vendor/Contract Management and integrations with Jira and Azure DevOps
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