Investment Management Corp of Ontario Raises Position in monday.com Ltd. (NASDAQ:MNDY)

Investment Management Corp of Ontario grew its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 499.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,522 shares of the company’s stock after buying an additional 4,601 shares during the quarter. Investment Management Corp of Ontario’s holdings in monday.com were worth $1,534,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. bought a new position in monday.com in the 3rd quarter valued at approximately $43,000. Ridgewood Investments LLC purchased a new stake in shares of monday.com during the second quarter valued at $45,000. Gilliland Jeter Wealth Management LLC increased its holdings in monday.com by 72.9% in the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock worth $58,000 after buying an additional 102 shares in the last quarter. Opal Wealth Advisors LLC purchased a new position in monday.com in the 2nd quarter worth about $69,000. Finally, Toronto Dominion Bank bought a new position in monday.com during the 2nd quarter valued at about $120,000. Institutional investors own 73.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MNDY shares. Citigroup lifted their price target on shares of monday.com from $296.00 to $327.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. DA Davidson reiterated a “neutral” rating and set a $300.00 target price on shares of monday.com in a research note on Tuesday, November 12th. Tigress Financial increased their price target on monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Bank of America lifted their price objective on monday.com from $280.00 to $300.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Finally, Scotiabank initiated coverage on monday.com in a research report on Tuesday, November 19th. They issued a “sector outperform” rating and a $325.00 target price on the stock. Five equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, monday.com presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.81.

monday.com Trading Down 2.7 %

NASDAQ:MNDY opened at $285.02 on Friday. The stock has a 50-day moving average price of $284.51 and a 200 day moving average price of $256.19. The stock has a market capitalization of $13.76 billion, a P/E ratio of 695.17, a P/E/G ratio of 7.82 and a beta of 1.25. monday.com Ltd. has a 12-month low of $170.00 and a 12-month high of $324.99.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share (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 business had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. During the same period last year, the firm posted $0.15 EPS. The company’s revenue was up 49.5% on a year-over-year basis. On average, research analysts predict that monday.com Ltd. will post 0.85 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.