Pictet Asset Management Holding SA Has $3.93 Million Holdings in monday.com Ltd. (NASDAQ:MNDY)

Pictet Asset Management Holding SA lifted its position in monday.com Ltd. (NASDAQ:MNDY) by 46.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,687 shares of the company’s stock after buying an additional 5,295 shares during the quarter. Pictet Asset Management Holding SA’s holdings in monday.com were worth $3,929,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of monday.com in the 4th quarter valued at about $116,686,000. Loomis Sayles & Co. L P acquired a new stake in monday.com in the 4th quarter valued at about $44,000. AssuredPartners Investment Advisors LLC acquired a new stake in monday.com in the 4th quarter valued at about $226,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in monday.com by 4.8% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 75,294 shares of the company’s stock worth $17,713,000 after purchasing an additional 3,458 shares during the period. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in monday.com by 8.1% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 19,358 shares of the company’s stock worth $4,558,000 after buying an additional 1,450 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MNDY has been the subject of several research analyst reports. Barclays lifted their target price on monday.com from $325.00 to $360.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Cantor Fitzgerald upped their price objective on shares of monday.com from $292.00 to $380.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Canaccord Genuity Group raised their target price on shares of monday.com from $310.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. JPMorgan Chase & Co. upped their price target on shares of monday.com from $350.00 to $400.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Finally, Wells Fargo & Company raised their price objective on shares of monday.com from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $352.64.

monday.com Stock Performance

Shares of MNDY opened at $217.77 on Friday. The firm has a market cap of $11.06 billion, a PE ratio of 362.95, a price-to-earnings-growth ratio of 16.53 and a beta of 1.27. monday.com Ltd. has a 52-week low of $174.75 and a 52-week high of $342.64. The business’s 50 day moving average price is $272.65 and its two-hundred day moving average price is $269.77.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, February 10th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a net margin of 3.33% and a return on equity of 6.22%. Research analysts predict that monday.com Ltd. will post 0.46 EPS 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.