monday.com Ltd. (NASDAQ:MNDY) Shares Acquired by Verition Fund Management LLC

Verition Fund Management LLC increased its holdings in monday.com Ltd. (NASDAQ:MNDY) by 52.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,475 shares of the company’s stock after buying an additional 5,306 shares during the period. Verition Fund Management LLC’s holdings in monday.com were worth $4,298,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of MNDY. Mirae Asset Global Investments Co. Ltd. bought a new stake in monday.com in the 3rd quarter valued at about $43,000. Ridgewood Investments LLC bought a new stake in monday.com in the 2nd quarter valued at about $45,000. Gilliland Jeter Wealth Management LLC lifted its position in monday.com by 72.9% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock valued at $58,000 after purchasing an additional 102 shares during the last quarter. Opal Wealth Advisors LLC bought a new stake in monday.com in the 2nd quarter valued at about $69,000. Finally, Toronto Dominion Bank bought a new stake in monday.com in the 2nd quarter valued at about $120,000. 73.70% of the stock is owned by institutional investors and hedge funds.

monday.com Price Performance

MNDY stock opened at $280.80 on Wednesday. monday.com Ltd. has a 52-week low of $170.00 and a 52-week high of $324.99. The company’s 50 day simple moving average is $284.29 and its 200-day simple moving average is $255.57. The firm has a market capitalization of $13.56 billion, a P/E ratio of 684.88, a P/E/G ratio of 7.65 and a beta of 1.25.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The firm had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. During the same period in the previous year, the firm posted $0.15 earnings per share. The firm’s revenue was up 49.5% on a year-over-year basis. Sell-side analysts predict that monday.com Ltd. will post 0.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on MNDY. Oppenheimer lifted their price objective on shares of monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. UBS Group boosted their price target on shares of monday.com from $240.00 to $280.00 and gave the stock a “neutral” rating in a research report on Tuesday, August 13th. DA Davidson restated a “neutral” rating and set a $300.00 price target on shares of monday.com in a research report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price target on shares of monday.com from $270.00 to $300.00 and gave the stock an “overweight” rating in a research report on Tuesday, August 13th. Finally, Loop Capital boosted their price target on shares of monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $310.81.

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.