Geode Capital Management LLC Acquires 42,655 Shares of monday.com Ltd. $MNDY

Geode Capital Management LLC boosted its holdings in monday.com Ltd. (NASDAQ:MNDY) by 10.8% in the fourth quarter, HoldingsChannel reports. The firm owned 438,076 shares of the company’s stock after purchasing an additional 42,655 shares during the period. Geode Capital Management LLC’s holdings in monday.com were worth $64,295,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in MNDY. Capital World Investors increased its holdings in monday.com by 231.2% in the third quarter. Capital World Investors now owns 1,717,263 shares of the company’s stock worth $332,617,000 after purchasing an additional 1,198,761 shares in the last quarter. SG Americas Securities LLC increased its holdings in monday.com by 110.9% in the fourth quarter. SG Americas Securities LLC now owns 932,912 shares of the company’s stock worth $137,660,000 after purchasing an additional 490,491 shares in the last quarter. Marshall Wace LLP increased its holdings in monday.com by 294.0% in the third quarter. Marshall Wace LLP now owns 405,995 shares of the company’s stock worth $78,637,000 after purchasing an additional 302,961 shares in the last quarter. Amundi increased its holdings in monday.com by 104.2% in the third quarter. Amundi now owns 511,498 shares of the company’s stock worth $96,499,000 after purchasing an additional 261,000 shares in the last quarter. Finally, CIBC Bancorp USA Inc. bought a new stake in monday.com in the third quarter worth approximately $37,799,000. 73.70% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MNDY shares. Tigress Financial decreased their price objective on monday.com to $165.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Citigroup decreased their price objective on monday.com from $176.00 to $154.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Wells Fargo & Company decreased their price objective on monday.com from $200.00 to $130.00 and set an “overweight” rating for the company in a report on Tuesday, February 10th. KeyCorp decreased their price objective on monday.com from $220.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, February 10th. Finally, Barclays boosted their price objective on monday.com from $95.00 to $100.00 and gave the company an “overweight” rating in a report on Tuesday, May 12th. Seventeen equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $126.48.

monday.com Stock Down 2.3%

Shares of NASDAQ:MNDY opened at $83.76 on Tuesday. The stock has a market cap of $4.29 billion, a price-to-earnings ratio of 36.42, a PEG ratio of 4.29 and a beta of 1.24. monday.com Ltd. has a 12-month low of $57.50 and a 12-month high of $316.98. The business’s 50 day moving average is $72.56 and its 200 day moving average is $100.47.

monday.com (NASDAQ:MNDY) last announced its earnings results on Friday, March 13th. The company reported $1.15 earnings per share (EPS) for the quarter. The company had revenue of $351.27 million for the quarter. monday.com had a return on equity of 5.10% and a net margin of 9.17%. As a group, equities research analysts expect that monday.com Ltd. will post 1.59 earnings per share for the current year.

monday.com Profile

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.