Jennison Associates LLC Has $202.91 Million Stock Holdings in monday.com Ltd. (NASDAQ:MNDY)

Jennison Associates LLC lifted its stake in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 77.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 730,478 shares of the company's stock after acquiring an additional 318,837 shares during the quarter. Jennison Associates LLC owned approximately 1.51% of monday.com worth $202,905,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Bessemer Group Inc. purchased a new position in shares of monday.com in the 1st quarter valued at $1,314,000. China Universal Asset Management Co. Ltd. purchased a new position in monday.com in the third quarter valued at about $1,667,000. International Assets Investment Management LLC bought a new position in monday.com in the third quarter worth about $21,989,000. Taylor Frigon Capital Management LLC purchased a new stake in shares of monday.com during the third quarter valued at about $1,311,000. Finally, Quent Capital LLC bought a new stake in shares of monday.com in the 1st quarter valued at about $565,000. 73.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Barclays upped their price target on monday.com from $300.00 to $325.00 and gave the stock an "overweight" rating in a research report on Tuesday, October 1st. Bank of America boosted their price target on monday.com from $280.00 to $300.00 and gave the stock a "buy" rating in a research note on Tuesday, August 13th. Capital One Financial started coverage on shares of monday.com in a research report on Thursday, October 10th. They issued an "overweight" rating and a $325.00 price objective for the company. The Goldman Sachs Group boosted their target price on shares of monday.com from $300.00 to $340.00 and gave the stock a "buy" rating in a research report on Tuesday, August 13th. Finally, Piper Sandler lifted their price objective on shares of monday.com from $340.00 to $350.00 and gave the stock an "overweight" rating in a research note on Monday, November 11th. Five investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $310.81.

monday.com Stock Performance

Shares of NASDAQ:MNDY traded up $3.96 during trading hours on Wednesday, hitting $260.98. The stock had a trading volume of 280,472 shares, compared to its average volume of 724,448. The stock's fifty day simple moving average is $281.02 and its 200 day simple moving average is $249.95. The firm has a market capitalization of $12.60 billion, a price-to-earnings ratio of 626.88, a PEG 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 posted its quarterly earnings data on Monday, November 11th. The company reported $0.85 EPS 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 4.99%. The company had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. During the same period in the prior year, the firm earned $0.15 earnings per share. The business's quarterly revenue was up 49.5% on a year-over-year basis. As a group, research analysts anticipate that monday.com Ltd. will post 0.5 EPS for the current year.

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.