Fmr LLC Buys 1,189,858 Shares of monday.com Ltd. (NASDAQ:MNDY)

Fmr LLC boosted its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 78.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,701,952 shares of the company’s stock after purchasing an additional 1,189,858 shares during the period. Fmr LLC owned about 5.60% of monday.com worth $636,147,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of MNDY. Charles Schwab Investment Management Inc. lifted its position in shares of monday.com by 6.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 24,039 shares of the company’s stock worth $6,677,000 after purchasing an additional 1,353 shares in the last quarter. Centiva Capital LP acquired a new stake in monday.com in the 3rd quarter valued at $422,000. HighTower Advisors LLC lifted its position in monday.com by 31.7% during the 3rd quarter. HighTower Advisors LLC now owns 9,943 shares of the company’s stock worth $2,746,000 after buying an additional 2,391 shares in the last quarter. Janus Henderson Group PLC boosted its stake in shares of monday.com by 579.3% during the 3rd quarter. Janus Henderson Group PLC now owns 7,683 shares of the company’s stock worth $2,135,000 after buying an additional 6,552 shares during the last quarter. Finally, Quantinno Capital Management LP bought a new position in shares of monday.com in the 3rd quarter valued at about $214,000. Institutional investors and hedge funds own 73.70% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on MNDY. KeyCorp upgraded monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 target price on the stock in a report on Tuesday, February 11th. Loop Capital decreased their target price on shares of monday.com from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Tigress Financial increased their price target on shares of monday.com from $340.00 to $450.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Canaccord Genuity Group raised their target price on shares of monday.com from $310.00 to $375.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. Finally, Piper Sandler boosted their price target on monday.com from $345.00 to $385.00 and gave the stock an “overweight” rating in a research report on Monday, February 10th. Three research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $352.64.

monday.com Stock Performance

NASDAQ:MNDY opened at $218.32 on Wednesday. monday.com Ltd. has a fifty-two week low of $174.75 and a fifty-two week high of $342.64. The company has a market cap of $11.08 billion, a price-to-earnings ratio of 363.87, a PEG ratio of 16.53 and a beta of 1.34. The stock has a fifty day moving average price of $270.59 and a 200-day moving average price of $268.74.

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