DekaBank Deutsche Girozentrale Purchases 8,390 Shares of monday.com Ltd. (NASDAQ:MNDY)

DekaBank Deutsche Girozentrale boosted its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 48.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 25,870 shares of the company’s stock after purchasing an additional 8,390 shares during the period. DekaBank Deutsche Girozentrale owned about 0.05% of monday.com worth $6,061,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in MNDY. WCM Investment Management LLC acquired a new stake in shares of monday.com during the first quarter worth approximately $728,521,000. Baillie Gifford & Co. acquired a new stake in monday.com during the 1st quarter valued at $76,534,000. Clearbridge Investments LLC boosted its stake in monday.com by 2,851.5% in the first quarter. Clearbridge Investments LLC now owns 344,525 shares of the company’s stock worth $77,818,000 after purchasing an additional 332,852 shares in the last quarter. Westfield Capital Management Co. LP acquired a new position in monday.com in the fourth quarter worth $58,689,000. Finally, Norges Bank bought a new stake in shares of monday.com during the fourth quarter worth $57,754,000. 73.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MNDY has been the topic of a number of research analyst reports. Robert W. Baird increased their price objective on shares of monday.com from $250.00 to $265.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. DA Davidson increased their price target on shares of monday.com from $230.00 to $250.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Tigress Financial boosted their price objective on shares of monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Bank of America increased their price objective on monday.com from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Finally, Loop Capital boosted their target price on monday.com from $245.00 to $285.00 and gave the stock a “buy” rating in a research report on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $285.79.

monday.com Price Performance

monday.com stock opened at $258.93 on Wednesday. The firm has a market capitalization of $12.50 billion, a price-to-earnings ratio of 681.39, a PEG ratio of 12.23 and a beta of 1.32. The company’s 50 day simple moving average is $243.59 and its 200 day simple moving average is $226.16. monday.com Ltd. has a fifty-two week low of $122.13 and a fifty-two week high of $272.77.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, August 12th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.23. monday.com had a net margin of 4.88% and a return on equity of 4.74%. The company had revenue of $236.11 million for the quarter, compared to analysts’ expectations of $227.96 million. As a group, analysts predict that monday.com Ltd. will post 0.49 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.