monday.com Ltd. (NASDAQ:MNDY) Shares Purchased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company raised its position in monday.com Ltd. (NASDAQ:MNDY) by 19.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,355 shares of the company’s stock after purchasing an additional 2,023 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in monday.com were worth $2,975,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Sei Investments Co. boosted its stake in monday.com by 63.9% during the first quarter. Sei Investments Co. now owns 107,331 shares of the company’s stock worth $24,243,000 after buying an additional 41,840 shares during the period. Norden Group LLC purchased a new position in shares of monday.com during the 1st quarter worth approximately $840,000. Bessemer Group Inc. purchased a new stake in monday.com in the first quarter valued at approximately $1,314,000. Toth Financial Advisory Corp acquired a new position in monday.com during the first quarter worth $782,000. Finally, Swiss National Bank boosted its position in shares of monday.com by 4.1% during the first quarter. Swiss National Bank now owns 86,400 shares of the company’s stock worth $19,515,000 after buying an additional 3,400 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Stock Up 1.2 %

Shares of monday.com stock opened at $277.14 on Wednesday. The firm has a market capitalization of $13.38 billion, a P/E ratio of 729.32, a P/E/G ratio of 13.58 and a beta of 1.32. monday.com Ltd. has a 52 week low of $122.13 and a 52 week high of $285.64. The firm’s 50 day moving average is $255.18 and its two-hundred day moving average is $231.25.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, August 12th. The company reported $0.24 EPS for the quarter, beating 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 firm had revenue of $236.11 million for the quarter, compared to the consensus estimate of $227.96 million. As a group, research analysts expect that monday.com Ltd. will post 0.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MNDY has been the topic of several research analyst reports. Robert W. Baird boosted their price objective on monday.com from $250.00 to $265.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Citigroup increased their price target on shares of monday.com from $296.00 to $327.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Loop Capital lifted their price objective on shares of monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. UBS Group upped their target price on shares of monday.com from $240.00 to $280.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Finally, Bank of America raised their price target on shares of monday.com from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Five analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.