Mediolanum International Funds Ltd Purchases New Position in monday.com Ltd. (NASDAQ:MNDY)

Mediolanum International Funds Ltd purchased a new stake in monday.com Ltd. (NASDAQ:MNDY) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 3,855 shares of the company’s stock, valued at approximately $905,000.

A number of other institutional investors also recently bought and sold shares of the business. Avior Wealth Management LLC increased its stake in monday.com by 2.6% in the third quarter. Avior Wealth Management LLC now owns 2,611 shares of the company’s stock valued at $725,000 after purchasing an additional 67 shares during the period. Northwest & Ethical Investments L.P. increased its stake in monday.com by 18.2% in the third quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company’s stock valued at $181,000 after purchasing an additional 100 shares during the period. Vestcor Inc increased its stake in monday.com by 31.4% in the third quarter. Vestcor Inc now owns 519 shares of the company’s stock valued at $144,000 after purchasing an additional 124 shares during the period. R Squared Ltd acquired a new position in monday.com in the fourth quarter valued at $33,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in monday.com in the third quarter valued at $43,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MNDY. Citigroup upgraded shares of monday.com from a “neutral” rating to a “buy” rating and dropped their price target for the stock from $302.00 to $298.00 in a research note on Thursday, January 16th. Jefferies Financial Group dropped their price target on shares of monday.com from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Tuesday, January 21st. Cantor Fitzgerald began coverage on shares of monday.com in a research note on Friday, January 17th. They set an “overweight” rating and a $292.00 price target on the stock. Piper Sandler dropped their price target on shares of monday.com from $350.00 to $345.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Finally, Needham & Company LLC boosted their price target on shares of monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $310.68.

monday.com Stock Performance

Shares of NASDAQ MNDY opened at $255.46 on Monday. monday.com Ltd. has a 1 year low of $174.75 and a 1 year high of $324.99. The firm’s 50 day moving average price is $252.58 and its 200 day moving average price is $260.51. The firm has a market cap of $12.33 billion, a P/E ratio of 623.07, a price-to-earnings-growth ratio of 6.20 and a beta of 1.30.

monday.com (NASDAQ:MNDY) last announced its earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The firm had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. During the same quarter last year, the business earned $0.15 earnings per share. monday.com’s revenue was up 49.5% compared to the same quarter last year. As a group, equities analysts predict that monday.com Ltd. will post 0.85 EPS for the current year.

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.