Arrowstreet Capital Limited Partnership Boosts Holdings in monday.com Ltd. $MNDY

Arrowstreet Capital Limited Partnership grew its stake in monday.com Ltd. (NASDAQ:MNDY) by 110.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 78,660 shares of the company’s stock after purchasing an additional 41,238 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 0.15% of monday.com worth $24,737,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. ASR Vermogensbeheer N.V. purchased a new position in monday.com in the 1st quarter valued at about $25,000. Summit Securities Group LLC acquired a new position in shares of monday.com during the first quarter valued at approximately $25,000. NewEdge Advisors LLC lifted its position in shares of monday.com by 2,120.0% in the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after acquiring an additional 106 shares in the last quarter. Hazlett Burt & Watson Inc. lifted its position in shares of monday.com by 60.0% in the second quarter. Hazlett Burt & Watson Inc. now owns 160 shares of the company’s stock valued at $50,000 after acquiring an additional 60 shares in the last quarter. Finally, Allworth Financial LP boosted its stake in shares of monday.com by 219.6% in the second quarter. Allworth Financial LP now owns 163 shares of the company’s stock worth $51,000 after acquiring an additional 112 shares during the last quarter. Institutional investors and hedge funds own 73.70% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on MNDY. The Goldman Sachs Group reduced their price objective on monday.com from $350.00 to $270.00 and set a “buy” rating for the company in a research note on Wednesday, August 13th. Canaccord Genuity Group dropped their target price on shares of monday.com from $255.00 to $230.00 and set a “buy” rating for the company in a report on Tuesday, November 11th. TD Cowen reduced their target price on shares of monday.com from $360.00 to $290.00 and set a “buy” rating for the company in a research report on Tuesday, August 12th. Jefferies Financial Group decreased their price target on shares of monday.com from $330.00 to $300.00 and set a “buy” rating on the stock in a research note on Tuesday, November 11th. Finally, UBS Group set a $202.00 price objective on shares of monday.com in a research note on Tuesday, November 11th. One analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, monday.com presently has an average rating of “Moderate Buy” and an average price target of $269.27.

monday.com Trading Up 1.4%

monday.com stock opened at $156.94 on Friday. The company has a 50-day moving average price of $175.09 and a 200 day moving average price of $225.18. monday.com Ltd. has a 12-month low of $141.20 and a 12-month high of $342.64. The stock has a market cap of $7.97 billion, a P/E ratio of 127.59, a PEG ratio of 6.20 and a beta of 1.27.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, November 10th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.27. The company had revenue of $316.86 million for the quarter, compared to analyst estimates of $312.26 million. monday.com had a net margin of 5.58% and a return on equity of 5.99%. monday.com’s revenue was up 26.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.85 EPS. As a group, analysts forecast that monday.com Ltd. will post 0.46 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.