Daiwa Securities Group Inc. Boosts Stock Position in monday.com Ltd. (NASDAQ:MNDY)

Daiwa Securities Group Inc. raised its stake in monday.com Ltd. (NASDAQ:MNDY) by 23.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,600 shares of the company’s stock after purchasing an additional 300 shares during the period. Daiwa Securities Group Inc.’s holdings in monday.com were worth $300,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. grew its stake in monday.com by 58.0% in the fourth quarter. Migdal Insurance & Financial Holdings Ltd. now owns 156,609 shares of the company’s stock valued at $29,413,000 after purchasing an additional 57,500 shares during the last quarter. Rakuten Securities Inc. purchased a new position in monday.com in the fourth quarter valued at about $3,055,000. Avior Wealth Management LLC purchased a new position in monday.com in the fourth quarter valued at about $421,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in monday.com by 13.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,061 shares of the company’s stock valued at $2,265,000 after purchasing an additional 1,460 shares during the last quarter. Finally, Desjardins Global Asset Management Inc. grew its stake in monday.com by 222.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the company’s stock valued at $25,000 after purchasing an additional 91 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MNDY. 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 research note on Monday, March 25th. Oppenheimer boosted their price target on monday.com from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. Citigroup lowered monday.com from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $277.00 to $250.00 in a research note on Wednesday, April 10th. DA Davidson restated a “neutral” rating and set a $190.00 price target on shares of monday.com in a research note on Tuesday, February 13th. Finally, Bank of America began coverage on monday.com in a research note on Monday, February 26th. They set a “buy” rating and a $280.00 price target on the stock. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, monday.com has a consensus rating of “Moderate Buy” and a consensus target price of $240.00.

monday.com Stock Up 2.8 %

Shares of NASDAQ MNDY opened at $190.40 on Friday. The business’s 50 day moving average price is $212.20 and its 200 day moving average price is $189.66. The firm has a market cap of $9.19 billion, a P/E ratio of -2,719.61 and a beta of 1.18. monday.com Ltd. has a 52 week low of $108.35 and a 52 week high of $239.22.

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