China Universal Asset Management Co. Ltd. Takes Position in monday.com Ltd. (NASDAQ:MNDY)

China Universal Asset Management Co. Ltd. purchased a new stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,000 shares of the company's stock, valued at approximately $1,667,000.

A number of other institutional investors also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of monday.com during the 3rd quarter worth about $43,000. Ridgewood Investments LLC purchased a new stake in shares of monday.com during the 2nd quarter worth approximately $45,000. Gilliland Jeter Wealth Management LLC boosted its holdings in shares of monday.com by 72.9% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company's stock valued at $58,000 after buying an additional 102 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in shares of monday.com in the 2nd quarter valued at $69,000. Finally, PNC Financial Services Group Inc. grew its position in shares of monday.com by 373.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 393 shares of the company's stock valued at $74,000 after buying an additional 310 shares during the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

monday.com Stock Performance

MNDY stock traded up $5.15 during trading on Tuesday, reaching $302.50. 385,429 shares of the company were exchanged, compared to its average volume of 700,797. The stock's 50 day moving average price is $271.32 and its 200 day moving average price is $238.61. monday.com Ltd. has a 52-week low of $125.00 and a 52-week high of $306.80. The company has a market cap of $14.60 billion, a P/E ratio of 782.50, a PEG ratio of 13.58 and a beta of 1.32.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its quarterly earnings results on Monday, August 12th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.01 by $0.23. The business had revenue of $236.11 million for the quarter, compared to analyst estimates of $227.96 million. monday.com had a return on equity of 4.74% and a net margin of 4.88%. As a group, equities research analysts forecast that monday.com Ltd. will post 0.5 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MNDY. Wolfe Research began coverage on shares of monday.com in a research note on Tuesday, July 9th. They issued an "outperform" rating and a $300.00 price objective for the company. Piper Sandler raised their price target on monday.com from $300.00 to $340.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. Citigroup boosted their price objective on monday.com from $296.00 to $327.00 and gave the company a "neutral" rating in a research note on Wednesday, September 25th. Bank of America raised their target price on shares of monday.com from $280.00 to $300.00 and gave the stock a "buy" rating in a research report on Tuesday, August 13th. Finally, UBS Group upped their price target on shares of monday.com from $240.00 to $280.00 and gave the company a "neutral" rating in a research report on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $303.35.

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.