monday.com Ltd. $MNDY Shares Bought by Ion Asset Management Ltd.

Ion Asset Management Ltd. increased its stake in monday.com Ltd. (NASDAQ:MNDY) by 20.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 55,000 shares of the company’s stock after acquiring an additional 9,220 shares during the quarter. monday.com makes up 1.2% of Ion Asset Management Ltd.’s holdings, making the stock its 19th largest holding. Ion Asset Management Ltd. owned about 0.11% of monday.com worth $10,653,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. WCM Investment Management LLC boosted its position in shares of monday.com by 2.8% in the 3rd quarter. WCM Investment Management LLC now owns 4,184,745 shares of the company’s stock valued at $843,519,000 after purchasing an additional 115,353 shares during the period. JPMorgan Chase & Co. raised its holdings in monday.com by 9.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,833,000 shares of the company’s stock worth $576,442,000 after buying an additional 150,987 shares during the period. Capital World Investors boosted its holdings in shares of 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 buying an additional 1,198,761 shares during the period. Baillie Gifford & Co. increased its position in shares of monday.com by 136.5% in the third quarter. Baillie Gifford & Co. now owns 708,278 shares of the company’s stock worth $137,186,000 after acquiring an additional 408,848 shares in the last quarter. Finally, Westfield Capital Management Co. LP raised its holdings in shares of monday.com by 7.3% during the third quarter. Westfield Capital Management Co. LP now owns 693,319 shares of the company’s stock valued at $134,289,000 after acquiring an additional 46,999 shares during the period. 73.70% of the stock is owned by institutional investors and hedge funds.

monday.com Stock Performance

NASDAQ:MNDY opened at $74.86 on Monday. The stock’s 50 day moving average price is $100.95 and its 200 day moving average price is $148.81. monday.com Ltd. has a 52 week low of $68.68 and a 52 week high of $316.98. The company has a market capitalization of $3.80 billion, a P/E ratio of 33.27, a P/E/G ratio of 1.38 and a beta of 1.32.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, February 9th. The company reported $1.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13. monday.com had a net margin of 9.64% and a return on equity of 4.80%. The firm had revenue of $333.88 million during the quarter, compared to analysts’ expectations of $329.71 million. During the same period in the previous year, the company earned $1.08 earnings per share. The company’s revenue was up 24.6% compared to the same quarter last year. As a group, sell-side analysts forecast that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MNDY has been the topic of several research analyst reports. Robert W. Baird reiterated a “neutral” rating and set a $90.00 price objective (down from $175.00) on shares of monday.com in a research report on Tuesday, February 10th. Jefferies Financial Group downgraded monday.com from a “buy” rating to a “hold” rating and lowered their price target for the company from $260.00 to $80.00 in a report on Monday, February 23rd. Barclays set a $115.00 price objective on monday.com in a research report on Tuesday, February 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of monday.com in a report on Thursday, January 22nd. Finally, KeyCorp decreased their price target on shares of monday.com from $220.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, February 10th. Nineteen equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell 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 $155.38.

monday.com Company 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.