West Tower Group LLC Acquires 500 Shares of monday.com Ltd. (NASDAQ:MNDY)

West Tower Group LLC boosted its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 38.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,800 shares of the company’s stock after acquiring an additional 500 shares during the quarter. monday.com comprises about 1.1% of West Tower Group LLC’s investment portfolio, making the stock its 24th biggest position. West Tower Group LLC’s holdings in monday.com were worth $500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. China Universal Asset Management Co. Ltd. bought a new stake in shares of monday.com in the 3rd quarter worth about $1,667,000. International Assets Investment Management LLC bought a new stake in monday.com in the third quarter worth about $21,989,000. Taylor Frigon Capital Management LLC purchased a new position in shares of monday.com during the third quarter valued at approximately $1,311,000. Quent Capital LLC bought a new position in shares of monday.com during the first quarter valued at approximately $565,000. Finally, California State Teachers Retirement System raised its holdings in shares of monday.com by 13.8% in the first quarter. California State Teachers Retirement System now owns 25,320 shares of the company’s stock worth $5,719,000 after buying an additional 3,068 shares during the period. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

monday.com Stock Up 4.0 %

Shares of monday.com stock opened at $296.10 on Tuesday. The company has a market cap of $14.30 billion, a P/E ratio of 722.20, a PEG ratio of 7.93 and a beta of 1.31. The firm’s 50 day moving average price is $282.80 and its 200-day moving average price is $252.52. monday.com Ltd. has a 52-week low of $170.00 and a 52-week high of $324.99.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping 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 business 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 company earned $0.15 earnings per share. The business’s revenue for the quarter was up 49.5% on a year-over-year basis. As a group, equities research analysts forecast that monday.com Ltd. will post 0.85 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Canaccord Genuity Group boosted their price objective on monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday, November 12th. UBS Group upped their price target on shares of monday.com from $240.00 to $280.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. JPMorgan Chase & Co. raised their price target on shares of monday.com from $270.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Needham & Company LLC boosted their price objective on shares of monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Finally, Capital One Financial began coverage on shares of monday.com in a research note on Thursday, October 10th. They issued an “overweight” rating and a $325.00 target price on the stock. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $310.81.

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.