Mackenzie Financial Corp Raises Stake in monday.com Ltd. (NASDAQ:MNDY)

Mackenzie Financial Corp boosted its stake in monday.com Ltd. (NASDAQ:MNDY) by 23.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,981 shares of the company’s stock after purchasing an additional 371 shares during the quarter. Mackenzie Financial Corp’s holdings in monday.com were worth $477,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD boosted its position in shares of monday.com by 1.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,164,566 shares of the company’s stock valued at $714,781,000 after acquiring an additional 31,304 shares during the period. Renaissance Technologies LLC grew its position 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 valued at $270,299,000 after purchasing an additional 188,800 shares in the last quarter. Jennison Associates LLC grew its position in shares of monday.com by 12.1% during the 1st quarter. Jennison Associates LLC now owns 782,154 shares of the company’s stock valued at $176,665,000 after purchasing an additional 84,182 shares in the last quarter. 1832 Asset Management L.P. raised its position in shares of monday.com by 34.4% in the second quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock worth $160,707,000 after buying an additional 170,800 shares in the last quarter. Finally, Eminence Capital LP boosted its stake in monday.com by 1.4% during the second quarter. Eminence Capital LP now owns 470,717 shares of the company’s stock valued at $113,330,000 after buying an additional 6,349 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Stock Up 0.6 %

Shares of NASDAQ MNDY opened at $277.59 on Friday. The firm’s fifty day moving average is $254.38 and its 200 day moving average is $230.89. monday.com Ltd. has a 52 week low of $122.13 and a 52 week high of $285.64. The company has a market cap of $13.40 billion, a price-to-earnings ratio of 730.50, a PEG ratio of 13.58 and a beta of 1.32.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, August 12th. The company reported $0.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.01 by $0.23. The firm had revenue of $236.11 million for the quarter, compared to analysts’ expectations of $227.96 million. monday.com had a net margin of 4.88% and a return on equity of 4.74%. Equities research analysts anticipate that monday.com Ltd. will post 0.49 earnings per share for the current year.

Analyst Ratings Changes

MNDY has been the topic of a number of research analyst reports. Loop Capital upped their target price on monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. JPMorgan Chase & Co. raised their target price on shares of monday.com from $270.00 to $300.00 and gave the company an “overweight” rating in a research note on Tuesday, August 13th. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price target on shares of monday.com in a research note on Thursday, September 26th. Barclays raised their price objective on shares of monday.com from $300.00 to $325.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Finally, TD Cowen lifted their price objective on shares of monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $296.16.

About monday.com

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.