Van ECK Associates Corp Increases Position in monday.com Ltd. (NASDAQ:MNDY)

Van ECK Associates Corp lifted its position in monday.com Ltd. (NASDAQ:MNDY) by 1.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,443 shares of the company’s stock after purchasing an additional 199 shares during the period. Van ECK Associates Corp’s holdings in monday.com were worth $3,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Avior Wealth Management LLC increased its stake in shares of monday.com by 2.6% in the third quarter. Avior Wealth Management LLC now owns 2,611 shares of the company’s stock worth $725,000 after purchasing an additional 67 shares in the last quarter. Northwest & Ethical Investments L.P. increased its stake in shares of monday.com by 18.2% in the third quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company’s stock worth $181,000 after purchasing an additional 100 shares in the last quarter. Stonebridge Financial Group LLC purchased a new stake in shares of monday.com in the fourth quarter worth $25,000. Choreo LLC grew its stake in monday.com by 3.8% during the fourth quarter. Choreo LLC now owns 3,005 shares of the company’s stock valued at $707,000 after acquiring an additional 111 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in monday.com by 74.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 274 shares of the company’s stock valued at $64,000 after acquiring an additional 117 shares in the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on MNDY shares. William Blair reaffirmed an “outperform” rating on shares of monday.com in a research note on Wednesday, December 18th. JPMorgan Chase & Co. raised their target price on shares of monday.com from $350.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Barclays raised their target price on shares of monday.com from $325.00 to $360.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Citigroup raised shares of monday.com from a “neutral” rating to a “buy” rating and cut their target price for the company from $302.00 to $298.00 in a research note on Thursday, January 16th. Finally, KeyCorp raised shares of monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 target price for the company in a research note on Tuesday, February 11th. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, monday.com has an average rating of “Moderate Buy” and a consensus price target of $353.32.

monday.com Trading Down 0.1 %

monday.com stock opened at $308.01 on Friday. monday.com Ltd. has a 12-month low of $174.75 and a 12-month high of $342.64. The firm has a 50-day moving average price of $255.54 and a 200-day moving average price of $266.68. The firm has a market capitalization of $14.87 billion, a PE ratio of 513.35, a price-to-earnings-growth ratio of 17.28 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, February 10th. The company reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a net margin of 3.33% and a return on equity of 6.22%. As a group, sell-side analysts predict that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

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.