HighTower Advisors LLC Boosts Stake in monday.com Ltd. (NASDAQ:MNDY)

HighTower Advisors LLC lifted its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 31.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,943 shares of the company’s stock after acquiring an additional 2,391 shares during the quarter. HighTower Advisors LLC’s holdings in monday.com were worth $2,746,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of MNDY. FMR LLC boosted its stake 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 acquiring an additional 798,791 shares in the last quarter. Jennison Associates LLC boosted its stake in shares of monday.com by 77.5% during the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock worth $202,905,000 after acquiring an additional 318,837 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of monday.com by 431.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock worth $107,176,000 after acquiring an additional 313,279 shares in the last quarter. Renaissance Technologies LLC boosted its stake 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 in the last quarter. Finally, Bank of New York Mellon Corp raised 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 purchasing an additional 172,919 shares during the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

monday.com Stock Up 1.4 %

NASDAQ:MNDY opened at $282.04 on Friday. The company has a fifty day simple moving average of $285.90 and a two-hundred day simple moving average of $257.91. The company has a market cap of $13.62 billion, a price-to-earnings ratio of 687.90, a price-to-earnings-growth ratio of 8.28 and a beta of 1.25. monday.com Ltd. has a 52 week low of $170.00 and a 52 week high of $324.99.

monday.com (NASDAQ:MNDY) last issued its earnings results on Monday, November 11th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. The firm 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 was up 49.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.15 earnings per share. On average, analysts expect that monday.com Ltd. will post 0.85 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MNDY. Scotiabank began coverage on shares of monday.com in a research report on Tuesday, November 19th. They set a “sector outperform” rating and a $325.00 price target for the company. TD Cowen upped their price target on shares of monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Loop Capital upped their price target on shares of monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Piper Sandler upped their price target on shares of monday.com from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, Barclays upped their price target on shares of monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $310.81.

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.