monday.com Ltd. (NASDAQ:MNDY) Shares Bought by Investment Management Corp of Ontario

Investment Management Corp of Ontario lifted its stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 499.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,522 shares of the company's stock after purchasing an additional 4,601 shares during the period. Investment Management Corp of Ontario's holdings in monday.com were worth $1,534,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FMR LLC increased its stake in monday.com by 112.0% in the 3rd quarter. FMR LLC now owns 1,512,094 shares of the company's stock worth $420,014,000 after buying an additional 798,791 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in shares of monday.com by 20.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company's stock valued at $270,299,000 after purchasing an additional 188,800 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of monday.com by 77.5% during the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company's stock valued at $202,905,000 after purchasing an additional 318,837 shares during the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of monday.com by 34.4% in the 2nd 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 during the last quarter. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of monday.com by 2.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company's stock valued at $166,767,000 after acquiring an additional 14,304 shares during the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on MNDY. UBS Group raised their price objective on shares of monday.com from $240.00 to $280.00 and gave the stock a "neutral" rating in a research note on Tuesday, August 13th. Piper Sandler lifted their price target on shares of monday.com from $340.00 to $350.00 and gave the stock an "overweight" rating in a report on Monday, November 11th. Capital One Financial started coverage on shares of monday.com in a report on Thursday, October 10th. They issued an "overweight" rating and a $325.00 price target on the stock. 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 lifted their price objective on shares of monday.com from $296.00 to $327.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, monday.com has an average rating of "Moderate Buy" and a consensus target price of $310.81.

monday.com Price Performance

NASDAQ MNDY traded up $12.05 during trading hours on Friday, hitting $297.07. 688,004 shares of the company's stock traded hands, compared to its average volume of 728,398. monday.com Ltd. has a 52-week low of $170.00 and a 52-week high of $324.99. The company has a market capitalization of $14.34 billion, a PE ratio of 736.59, a PEG ratio of 7.82 and a beta of 1.25. The firm's 50-day moving average is $284.75 and its 200-day moving average is $256.39.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its earnings results on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The company had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. During the same period in the previous year, the business posted $0.15 EPS. monday.com's revenue was up 49.5% on a year-over-year basis. Equities research analysts predict 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.