Raymond James & Associates Boosts Stock Position in monday.com Ltd. (NASDAQ:MNDY)

Raymond James & Associates lifted its position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 9.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,845 shares of the company's stock after buying an additional 2,850 shares during the period. Raymond James & Associates owned about 0.07% of monday.com worth $7,667,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of MNDY. Sei Investments Co. increased its stake in monday.com by 63.9% in the 1st quarter. Sei Investments Co. now owns 107,331 shares of the company's stock valued at $24,243,000 after buying an additional 41,840 shares during the last quarter. M&G Investment Management Ltd. increased its position in shares of monday.com by 8.5% in the fourth quarter. M&G Investment Management Ltd. now owns 48,347 shares of the company's stock valued at $9,089,000 after acquiring an additional 3,796 shares during the last quarter. Norden Group LLC bought a new stake in monday.com during the first quarter worth about $840,000. Boulder Hill Capital Management LP acquired a new position in monday.com during the fourth quarter valued at approximately $2,197,000. Finally, Bessemer Group Inc. bought a new position in monday.com in the first quarter valued at approximately $1,314,000. 73.70% of the stock is currently owned by institutional investors.

monday.com Stock Performance

Shares of MNDY stock traded down $3.95 on Tuesday, hitting $259.41. The company's stock had a trading volume of 327,909 shares, compared to its average volume of 782,759. monday.com Ltd. has a fifty-two week low of $122.13 and a fifty-two week high of $272.77. The company has a market capitalization of $12.52 billion, a PE ratio of 682.66, a PEG ratio of 43.41 and a beta of 1.30. The stock's 50 day moving average is $237.56 and its 200-day moving average is $222.27.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Piper Sandler reiterated an "overweight" rating and set a $300.00 price objective (up previously from $270.00) on shares of monday.com in a research note on Monday, August 12th. Robert W. Baird increased their price target on shares of monday.com from $250.00 to $265.00 and gave the company a "neutral" rating in a research note on Tuesday, August 13th. UBS Group boosted 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. Wells Fargo & Company upped their target price on shares of monday.com from $260.00 to $275.00 and gave the company an "overweight" rating in a report on Thursday, May 16th. Finally, Bank of America lifted their price target on monday.com from $280.00 to $300.00 and gave the stock a "buy" rating in a report on Tuesday, August 13th. Five investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $285.79.

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.