monday.com Ltd. (NASDAQ:MNDY) Holdings Raised by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. increased its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 3.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 66,691 shares of the company’s stock after purchasing an additional 2,085 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.14% of monday.com worth $18,525,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in shares of monday.com during the third quarter valued at approximately $43,000. Ridgewood Investments LLC acquired a new stake in monday.com in the second quarter worth $45,000. Gilliland Jeter Wealth Management LLC increased its position in monday.com by 72.9% in the second quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock worth $58,000 after buying an additional 102 shares during the period. Opal Wealth Advisors LLC acquired a new position in shares of monday.com during the second quarter valued at $69,000. Finally, Industrial Alliance Investment Management Inc. boosted its holdings in shares of monday.com by 741.7% during the first quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock valued at $91,000 after acquiring an additional 356 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. lifted their price objective on shares of monday.com from $270.00 to $300.00 and gave the company an “overweight” rating in a research report on Tuesday, August 13th. UBS Group lifted their price target on monday.com from $240.00 to $280.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. The Goldman Sachs Group increased their price objective on monday.com from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Piper Sandler lifted their target price on monday.com from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Finally, TD Cowen boosted their price target on monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Five investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $310.10.

monday.com Stock Performance

NASDAQ MNDY opened at $262.89 on Monday. The firm’s 50 day moving average price is $280.53 and its two-hundred day moving average price is $248.96. monday.com Ltd. has a twelve month low of $166.86 and a twelve month high of $324.99. The stock has a market cap of $12.69 billion, a price-to-earnings ratio of 641.20, a PEG ratio of 12.26 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last posted its quarterly 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 business had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. During the same period in the prior year, the firm earned $0.15 earnings per share. The firm’s revenue was up 49.5% compared to the same quarter last year. On average, research analysts forecast that monday.com Ltd. will post 0.5 EPS for the current fiscal 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.