Wellington Management Group LLP Acquires 687 Shares of monday.com Ltd. (NASDAQ:MNDY)

Wellington Management Group LLP raised its holdings in shares of monday.com Ltd. (NASDAQ:MNDY) by 2.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,132 shares of the company’s stock after purchasing an additional 687 shares during the quarter. Wellington Management Group LLP owned approximately 0.06% of monday.com worth $7,814,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Whale Rock Capital Management LLC lifted its stake in shares of monday.com by 3.3% during the 3rd quarter. Whale Rock Capital Management LLC now owns 402,447 shares of the company’s stock worth $111,788,000 after buying an additional 13,033 shares during the last quarter. Two Sigma Advisers LP raised its holdings in monday.com by 2.9% in the 3rd quarter. Two Sigma Advisers LP now owns 540,300 shares of the company’s stock valued at $150,079,000 after acquiring an additional 15,300 shares during the period. State Street Corp lifted its position in monday.com by 3.8% during the third quarter. State Street Corp now owns 587,879 shares of the company’s stock worth $163,295,000 after acquiring an additional 21,585 shares during the last quarter. Quantinno Capital Management LP bought a new stake in shares of monday.com during the third quarter worth approximately $214,000. Finally, Melqart Asset Management UK Ltd boosted its holdings in shares of monday.com by 5.1% during the third quarter. Melqart Asset Management UK Ltd now owns 17,429 shares of the company’s stock worth $4,841,000 after acquiring an additional 846 shares during the period. 73.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MNDY. Canaccord Genuity Group lifted their price target on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Capital One Financial initiated coverage on monday.com in a report on Thursday, October 10th. They set an “overweight” rating and a $325.00 target price for the company. TD Cowen upped their price target on shares of monday.com from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Oppenheimer lifted their price objective on shares of monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 22nd. Finally, Citigroup increased their target price on shares of monday.com from $296.00 to $327.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Six research 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 stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $310.81.

monday.com Stock Down 3.2 %

Shares of MNDY stock opened at $273.08 on Monday. The business has a fifty day simple moving average of $285.81 and a 200 day simple moving average of $258.36. The company has a market cap of $13.18 billion, a P/E ratio of 666.05, a P/E/G ratio of 7.75 and a beta of 1.25. monday.com Ltd. has a twelve month low of $170.00 and a twelve month high of $324.99.

monday.com (NASDAQ:MNDY) last posted its 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. The firm had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The business’s revenue for the quarter was up 49.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.15 earnings per share. As a group, equities research analysts anticipate that monday.com Ltd. will post 0.85 earnings per share for the current fiscal 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.