M&G Plc Invests $9.92 Million in monday.com Ltd. (NASDAQ:MNDY)

M&G Plc purchased a new stake in monday.com Ltd. (NASDAQ:MNDY) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 35,688 shares of the company’s stock, valued at approximately $9,921,000. M&G Plc owned approximately 0.07% of monday.com at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MNDY. Nordea Investment Management AB boosted its position in shares of monday.com by 86.7% during the 1st quarter. Nordea Investment Management AB now owns 2,980 shares of the company’s stock worth $669,000 after purchasing an additional 1,384 shares in the last quarter. Quent Capital LLC purchased a new stake in monday.com during the first quarter worth about $565,000. Daiwa Securities Group Inc. grew its position in monday.com by 31.9% during the first quarter. Daiwa Securities Group Inc. now owns 2,111 shares of the company’s stock worth $477,000 after buying an additional 511 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in monday.com in the first quarter valued at about $1,204,000. Finally, SG Americas Securities LLC lifted its position in shares of monday.com by 554.3% during the 1st quarter. SG Americas Securities LLC now owns 37,672 shares of the company’s stock valued at $8,509,000 after acquiring an additional 31,914 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.

Analysts Set New Price Targets

MNDY has been the subject of several research analyst reports. Wells Fargo & Company raised their price objective on monday.com from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday. JPMorgan Chase & Co. raised their price target on monday.com from $270.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. Loop Capital increased their price objective on shares of monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Piper Sandler lifted their target price on shares of monday.com from $300.00 to $340.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Tigress Financial increased their price target on shares of monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $306.10.

monday.com Stock Performance

monday.com stock opened at $318.56 on Friday. The company has a market cap of $15.38 billion, a price-to-earnings ratio of 398.20, a PEG ratio of 13.88 and a beta of 1.31. monday.com Ltd. has a 1 year low of $133.50 and a 1 year high of $322.41. The firm has a 50 day moving average price of $276.62 and a 200 day moving average price of $243.88.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, August 12th. The company reported $0.24 EPS for the quarter, topping analysts’ consensus estimates of $0.01 by $0.23. monday.com had a return on equity of 4.74% and a net margin of 4.88%. The business had revenue of $236.11 million during the quarter, compared to the consensus estimate of $227.96 million. Sell-side analysts predict that monday.com Ltd. will post 0.5 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.