Tairen Capital Ltd Acquires 2,500 Shares of monday.com Ltd. (NASDAQ:MNDY)

Tairen Capital Ltd raised its holdings in shares of monday.com Ltd. (NASDAQ:MNDY) by 71.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,000 shares of the company’s stock after purchasing an additional 2,500 shares during the period. monday.com accounts for about 0.1% of Tairen Capital Ltd’s holdings, making the stock its 22nd largest holding. Tairen Capital Ltd’s holdings in monday.com were worth $1,445,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. WCM Investment Management LLC bought a new stake in shares of monday.com during the 1st quarter valued at about $728,521,000. Baillie Gifford & Co. bought a new stake in monday.com during the 1st quarter valued at approximately $76,534,000. Clearbridge Investments LLC grew its holdings in shares of monday.com by 2,851.5% during the 1st quarter. Clearbridge Investments LLC now owns 344,525 shares of the company’s stock worth $77,818,000 after acquiring an additional 332,852 shares during the period. Norges Bank bought a new position in shares of monday.com in the 4th quarter worth approximately $57,754,000. Finally, Eventide Asset Management LLC lifted its stake in shares of monday.com by 100.3% in the 4th quarter. Eventide Asset Management LLC now owns 407,870 shares of the company’s stock valued at $76,602,000 after purchasing an additional 204,253 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on MNDY. KeyCorp decreased their price objective on monday.com from $280.00 to $270.00 and set an “overweight” rating for the company in a report on Tuesday, July 2nd. Barclays increased their price target on shares of monday.com from $275.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Wolfe Research started coverage on shares of monday.com in a report on Tuesday, July 9th. They issued an “outperform” rating and a $300.00 price objective on the stock. Tigress Financial raised their target price on shares of monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Piper Sandler reissued an “overweight” rating and issued a $300.00 price target (up from $270.00) on shares of monday.com in a research report on Monday, August 12th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, monday.com has an average rating of “Moderate Buy” and an average price target of $285.79.

monday.com Stock Up 2.1 %

NASDAQ MNDY opened at $280.17 on Monday. The firm has a market capitalization of $13.53 billion, a P/E ratio of 737.29, a PEG ratio of 12.23 and a beta of 1.32. The company has a 50-day moving average price of $245.95 and a 200-day moving average price of $227.17. monday.com Ltd. has a 52 week low of $122.13 and a 52 week high of $281.26.

monday.com (NASDAQ:MNDY) last announced its earnings results on Monday, August 12th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.23. monday.com had a return on equity of 4.74% and a net margin of 4.88%. The company had revenue of $236.11 million for the quarter, compared to analysts’ expectations of $227.96 million. As a group, equities research analysts anticipate that monday.com Ltd. will post 0.49 EPS for the current year.

monday.com Company 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.