CloudAlpha Capital Management Limited Hong Kong Makes New Investment in monday.com Ltd. (NASDAQ:MNDY)

CloudAlpha Capital Management Limited Hong Kong bought a new position in monday.com Ltd. (NASDAQ:MNDY - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,226 shares of the company's stock, valued at approximately $2,840,000. monday.com comprises 0.2% of CloudAlpha Capital Management Limited Hong Kong's holdings, making the stock its 27th biggest position.

A number of other large investors have also bought and sold shares of MNDY. Clearbridge Investments LLC boosted its position 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 in the last quarter. Allspring Global Investments Holdings LLC increased its stake in shares of monday.com by 431.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company's stock worth $107,176,000 after purchasing an additional 313,279 shares in the last quarter. Renaissance Technologies LLC lifted its stake in monday.com by 20.2% in the second quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company's stock worth $270,299,000 after purchasing an additional 188,800 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in monday.com by 171.3% during the second quarter. Bank of New York Mellon Corp now owns 273,877 shares of the company's stock valued at $65,938,000 after buying an additional 172,919 shares during the period. Finally, 1832 Asset Management L.P. boosted its stake in monday.com by 34.4% in the second quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company's stock valued at $160,707,000 after acquiring an additional 170,800 shares in the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

monday.com Stock Down 0.1 %

MNDY stock traded down $0.26 during trading on Thursday, reaching $268.90. The stock had a trading volume of 895,694 shares, compared to its average volume of 723,001. monday.com Ltd. has a one year low of $162.06 and a one year high of $324.99. The company's 50 day moving average is $279.69 and its two-hundred day moving average is $247.51. The company has a market capitalization of $12.98 billion, a price-to-earnings ratio of 656.49, a P/E/G ratio of 12.15 and a beta of 1.31.

monday.com (NASDAQ:MNDY - Get Free Report) last released 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. monday.com had a net margin of 2.39% and a return on equity of 5.15%. The firm had revenue of $251.00 million during the quarter, compared to the consensus estimate of $246.17 million. During the same period in the prior year, the firm earned $0.15 EPS. The company's revenue was up 49.5% compared to the same quarter last year. As a group, research analysts predict that monday.com Ltd. will post 0.5 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Loop Capital upped their price target on shares of monday.com from $285.00 to $310.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. Tigress Financial raised their price objective on shares of monday.com from $280.00 to $340.00 and gave the stock a "buy" rating in a research report on Wednesday, August 21st. Needham & Company LLC raised their price objective on shares of monday.com from $300.00 to $350.00 and gave the stock a "buy" rating in a research report on Tuesday. Citigroup raised their price objective 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. Finally, Piper Sandler raised their price objective on shares of monday.com from $340.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $310.10.

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.