Fmr LLC Acquires 798,791 Shares of monday.com Ltd. (NASDAQ:MNDY)

Fmr LLC grew its stake in monday.com Ltd. (NASDAQ:MNDY) by 112.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,512,094 shares of the company’s stock after purchasing an additional 798,791 shares during the quarter. Fmr LLC owned about 3.13% of monday.com worth $420,014,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in MNDY. The Manufacturers Life Insurance Company lifted its stake in monday.com by 8.0% in the third quarter. The Manufacturers Life Insurance Company now owns 13,349 shares of the company’s stock valued at $3,708,000 after buying an additional 994 shares during the period. West Tower Group LLC increased its stake in shares of monday.com by 38.5% in the 3rd quarter. West Tower Group LLC now owns 1,800 shares of the company’s stock valued at $500,000 after acquiring an additional 500 shares during the last quarter. Independent Advisor Alliance acquired a new stake in shares of monday.com in the 3rd quarter valued at approximately $201,000. Daiwa Securities Group Inc. boosted its stake in monday.com by 7.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 3,011 shares of the company’s stock worth $836,000 after acquiring an additional 200 shares during the last quarter. Finally, Westfield Capital Management Co. LP grew its holdings in monday.com by 2.4% during the third quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company’s stock valued at $166,767,000 after purchasing an additional 14,304 shares during the period. 73.70% of the stock is currently owned by institutional investors.

monday.com Stock Performance

Shares of NASDAQ MNDY opened at $285.36 on Friday. The stock has a market capitalization of $13.78 billion, a PE ratio of 696.00, a price-to-earnings-growth ratio of 8.00 and a beta of 1.31. monday.com Ltd. has a 52 week low of $170.00 and a 52 week high of $324.99. The stock has a 50 day moving average price of $284.25 and a 200 day moving average price of $253.77.

monday.com (NASDAQ:MNDY) last released 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 business had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $246.17 million. During the same period last year, the business earned $0.15 earnings per share. The firm’s revenue was up 49.5% on a year-over-year basis. As a group, research analysts forecast that monday.com Ltd. will post 0.85 EPS for the current year.

Analyst Ratings Changes

MNDY has been the topic of several analyst reports. TD Cowen increased their target price on shares of monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Barclays boosted their target price on monday.com from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Piper Sandler raised their price target on monday.com from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. DA Davidson reiterated a “neutral” rating and issued a $300.00 price objective on shares of monday.com in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. increased their target price on monday.com from $270.00 to $300.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 13th. Five research 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 company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price 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.