The Manufacturers Life Insurance Company Raises Position in monday.com Ltd. (NASDAQ:MNDY)

The Manufacturers Life Insurance Company lifted its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 8.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,349 shares of the company’s stock after buying an additional 994 shares during the period. The Manufacturers Life Insurance Company’s holdings in monday.com were worth $3,708,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Jennison Associates LLC raised its holdings in shares of monday.com by 77.5% in the third quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after purchasing an additional 318,837 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in monday.com by 431.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock worth $107,176,000 after purchasing an additional 313,279 shares in the last quarter. Renaissance Technologies LLC increased its stake in monday.com by 20.2% in the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock valued at $270,299,000 after buying an additional 188,800 shares during the last quarter. Bank of New York Mellon Corp lifted 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 buying an additional 172,919 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of monday.com by 34.4% in the 2nd 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 during the last quarter. Institutional investors own 73.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price objective on monday.com from $270.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Oppenheimer boosted their price target on shares of monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. DA Davidson restated a “neutral” rating and set a $300.00 price objective on shares of monday.com in a report on Tuesday, November 12th. Citigroup boosted their target price on shares of monday.com from $296.00 to $327.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Finally, Piper Sandler raised their price target on shares of monday.com from $340.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Five analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, monday.com has a consensus rating of “Moderate Buy” and a consensus target price of $310.81.

monday.com Price Performance

Shares of MNDY stock opened at $297.07 on Friday. The business has a fifty day moving average of $285.25 and a 200 day moving average of $256.86. monday.com Ltd. has a 1 year low of $170.00 and a 1 year high of $324.99. The firm has a market capitalization of $14.34 billion, a price-to-earnings ratio of 724.56, a price-to-earnings-growth ratio of 8.16 and a beta of 1.25.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. The company 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 firm’s quarterly revenue was up 49.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.15 earnings per share. As a group, equities research analysts expect that monday.com Ltd. will post 0.85 earnings per share for the current 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.