Swiss National Bank Buys 12,700 Shares of monday.com Ltd. (NASDAQ:MNDY)

Swiss National Bank increased its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 18.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,000 shares of the company’s stock after buying an additional 12,700 shares during the quarter. Swiss National Bank’s holdings in monday.com were worth $15,588,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MNDY. Desjardins Global Asset Management Inc. grew its holdings in shares of monday.com by 222.0% during the 4th quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the company’s stock worth $25,000 after purchasing an additional 91 shares in the last quarter. Crewe Advisors LLC lifted its position in monday.com by 44.9% during the third quarter. Crewe Advisors LLC now owns 229 shares of the company’s stock worth $36,000 after purchasing an additional 71 shares during the period. Sandy Spring Bank acquired a new stake in monday.com during the third quarter worth about $72,000. Allspring Global Investments Holdings LLC bought a new position in monday.com in the 3rd quarter valued at about $118,000. Finally, DekaBank Deutsche Girozentrale raised its position in shares of monday.com by 21.0% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 834 shares of the company’s stock valued at $131,000 after buying an additional 145 shares in the last quarter. 73.70% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on MNDY shares. Bank of America assumed coverage on shares of monday.com in a research report on Monday, February 26th. They set a “buy” rating and a $280.00 price target on the stock. Piper Sandler reiterated an “overweight” rating and issued a $250.00 price target on shares of monday.com in a research note on Tuesday, February 13th. JPMorgan Chase & Co. boosted their price target on monday.com from $230.00 to $270.00 and gave the stock an “overweight” rating in a report on Monday, March 25th. Canaccord Genuity Group reduced their price objective on monday.com from $250.00 to $220.00 and set a “buy” rating on the stock in a research note on Monday, April 22nd. Finally, Oppenheimer lifted their target price on monday.com from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. Three analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, monday.com has an average rating of “Moderate Buy” and a consensus target price of $240.00.

monday.com Trading Down 2.8 %

NASDAQ:MNDY opened at $181.00 on Friday. The stock’s 50-day moving average is $207.33 and its 200-day moving average is $192.53. monday.com Ltd. has a 1-year low of $122.13 and a 1-year high of $239.22. The stock has a market cap of $8.74 billion, a P/E ratio of -2,585.34 and a beta of 1.24.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, February 12th. The company reported $0.65 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.33. The firm had revenue of $202.60 million for the quarter, compared to analyst estimates of $197.97 million. monday.com had a negative net margin of 0.26% and a negative return on equity of 0.43%. The company’s revenue for the quarter was up 35.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.03) EPS. As a group, equities analysts forecast that monday.com Ltd. will post -0.16 EPS for the current 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.