monday.com Ltd. (NASDAQ:MNDY) Holdings Increased by 1832 Asset Management L.P.

1832 Asset Management L.P. grew its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 34.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 667,500 shares of the company’s stock after buying an additional 170,800 shares during the quarter. 1832 Asset Management L.P.’s holdings in monday.com were worth $160,707,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in MNDY. WCM Investment Management LLC acquired a new position in shares of monday.com in the 1st quarter worth approximately $728,521,000. Baillie Gifford & Co. acquired a new position in shares of monday.com in the 1st quarter worth approximately $76,534,000. Clearbridge Investments LLC grew its stake in shares of monday.com by 2,851.5% in the 1st quarter. Clearbridge Investments LLC now owns 344,525 shares of the company’s stock worth $77,818,000 after purchasing an additional 332,852 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of monday.com in the 4th quarter worth approximately $58,689,000. Finally, Norges Bank acquired a new position in shares of monday.com in the 4th quarter worth approximately $57,754,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Stock Up 2.1 %

NASDAQ MNDY opened at $280.17 on Friday. The stock has a market capitalization of $13.53 billion, a PE ratio of 737.29, a price-to-earnings-growth ratio of 12.23 and a beta of 1.32. The company has a 50 day moving average price of $245.95 and a two-hundred day moving average price of $227.08. monday.com Ltd. has a 12-month low of $122.13 and a 12-month high of $281.26.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on MNDY shares. Canaccord Genuity Group lifted their price objective on shares of monday.com from $250.00 to $295.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Piper Sandler reissued an “overweight” rating and issued a $300.00 target price (up from $270.00) on shares of monday.com in a research report on Monday, August 12th. JPMorgan Chase & Co. lifted their target price on shares of monday.com from $270.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. KeyCorp dropped their target price on shares of monday.com from $280.00 to $270.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 2nd. Finally, Wolfe Research initiated coverage on shares of monday.com in a research report on Tuesday, July 9th. They issued an “outperform” rating and a $300.00 target price on the stock. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $285.79.

monday.com 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.