Swiss National Bank grew its stake in monday.com Ltd. (NASDAQ:MNDY – Free Report) by 2.2% during the third quarter, HoldingsChannel.com reports. The firm owned 111,400 shares of the company’s stock after purchasing an additional 2,400 shares during the period. Swiss National Bank’s holdings in monday.com were worth $30,944,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the stock. Bessemer Group Inc. acquired a new stake in monday.com during the first quarter valued at approximately $1,314,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of monday.com in the 3rd quarter valued at approximately $1,667,000. International Assets Investment Management LLC acquired a new stake in shares of monday.com during the 3rd quarter valued at approximately $21,989,000. Taylor Frigon Capital Management LLC bought a new position in monday.com during the third quarter worth $1,311,000. Finally, Quent Capital LLC bought a new position in monday.com during the first quarter worth $565,000. Institutional investors own 73.70% of the company’s stock.
Analyst Ratings Changes
A number of analysts have weighed in on MNDY shares. Canaccord Genuity Group increased their target price on shares of monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Oppenheimer increased 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. UBS Group lifted their target price on monday.com from $240.00 to $280.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Robert W. Baird increased their price target on monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 12th. Finally, Scotiabank assumed coverage on monday.com in a research report on Tuesday. They set a “sector outperform” rating and a $325.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $310.81.
monday.com Trading Up 1.2 %
Shares of MNDY stock opened at $260.15 on Thursday. The stock’s fifty day simple moving average is $281.22 and its 200-day simple moving average is $250.02. The company has a market capitalization of $12.56 billion, a price-to-earnings ratio of 634.51, a P/E/G ratio of 12.26 and a beta of 1.31. monday.com Ltd. has a 1-year low of $169.46 and a 1-year high of $324.99.
monday.com (NASDAQ:MNDY – Get Free Report) last issued its earnings results on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. The company had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The firm’s quarterly revenue was up 49.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 EPS. On average, sell-side analysts predict that monday.com Ltd. will post 0.5 EPS for the current 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.
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