Public Employees Retirement System of Ohio Purchases New Holdings in monday.com Ltd. (NASDAQ:MNDY)

Public Employees Retirement System of Ohio purchased a new position in shares of monday.com Ltd. (NASDAQ:MNDY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 23,100 shares of the company’s stock, valued at approximately $6,416,000.

Other hedge funds have also recently added to or reduced their stakes in the company. FMR LLC grew its holdings in shares of monday.com by 112.0% during the 3rd quarter. FMR LLC now owns 1,512,094 shares of the company’s stock worth $420,014,000 after purchasing an additional 798,791 shares in the last quarter. Jennison Associates LLC increased its holdings in monday.com by 77.5% in the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after buying an additional 318,837 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of monday.com by 431.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock valued at $107,176,000 after buying an additional 313,279 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of monday.com by 20.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock worth $270,299,000 after acquiring an additional 188,800 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of monday.com by 171.3% during the 2nd quarter. Bank of New York Mellon Corp now owns 273,877 shares of the company’s stock worth $65,938,000 after acquiring an additional 172,919 shares in the last quarter. Institutional investors own 73.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Scotiabank started coverage on monday.com in a research note on Tuesday, November 19th. They set a “sector outperform” rating and a $325.00 target price for the company. Canaccord Genuity Group upped their price objective on monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Oppenheimer lifted their target price on monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Robert W. Baird increased their target price on shares of monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a report on Tuesday, November 12th. Finally, DA Davidson restated a “neutral” rating and issued a $300.00 price target on shares of monday.com in a research note on Tuesday, November 12th. Six research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $310.81.

monday.com Price Performance

Shares of MNDY opened at $273.08 on Friday. The business has a 50-day moving average of $285.81 and a 200-day moving average of $258.11. The company has a market capitalization of $13.18 billion, a price-to-earnings ratio of 666.05, a price-to-earnings-growth ratio of 7.75 and a beta of 1.25. monday.com Ltd. has a 1 year low of $170.00 and a 1 year high of $324.99.

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 analysts’ consensus estimates of $0.61 by $0.24. The business had revenue of $251.00 million during the quarter, compared to the consensus estimate of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The company’s revenue for the quarter was up 49.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.15 EPS. As a group, sell-side analysts anticipate that monday.com Ltd. will post 0.85 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.