Capital World Investors Buys 1,569,198 Shares of monday.com Ltd. $MNDY

Capital World Investors increased its stake in monday.com Ltd. (NASDAQ:MNDY) by 91.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,286,461 shares of the company’s stock after acquiring an additional 1,569,198 shares during the period. Capital World Investors owned about 6.47% of monday.com worth $484,950,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. SG Americas Securities LLC lifted its stake in shares of monday.com by 110.9% in the 4th quarter. SG Americas Securities LLC now owns 932,912 shares of the company’s stock valued at $137,660,000 after acquiring an additional 490,491 shares during the last quarter. Baillie Gifford & Co. lifted its stake in shares of monday.com by 2.2% in the 4th quarter. Baillie Gifford & Co. now owns 723,655 shares of the company’s stock valued at $106,783,000 after acquiring an additional 15,377 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of monday.com by 7.3% in the 3rd quarter. Westfield Capital Management Co. LP now owns 693,319 shares of the company’s stock valued at $134,289,000 after acquiring an additional 46,999 shares during the last quarter. State Street Corp lifted its stake in shares of monday.com by 5.4% in the 2nd quarter. State Street Corp now owns 661,265 shares of the company’s stock valued at $207,955,000 after acquiring an additional 33,963 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its stake in shares of monday.com by 4.2% in the 2nd quarter. Alliancebernstein L.P. now owns 605,510 shares of the company’s stock valued at $190,421,000 after acquiring an additional 24,624 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on MNDY. Loop Capital set a $80.00 price target on monday.com in a research report on Tuesday, February 10th. Robert W. Baird reaffirmed a “neutral” rating and set a $90.00 price target (down from $175.00) on shares of monday.com in a research report on Tuesday, February 10th. Barclays upped their price target on monday.com from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Tuesday, May 12th. Wolfe Research reaffirmed an “outperform” rating and set a $95.00 price target on shares of monday.com in a research report on Monday, February 9th. Finally, Zacks Research lowered monday.com from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Seventeen investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $126.48.

monday.com Stock Performance

Shares of NASDAQ:MNDY opened at $85.74 on Monday. monday.com Ltd. has a 52-week low of $57.50 and a 52-week high of $316.98. The firm has a market capitalization of $4.39 billion, a P/E ratio of 37.28, a P/E/G ratio of 4.29 and a beta of 1.24. The stock has a 50 day moving average price of $72.27 and a 200-day moving average price of $100.95.

monday.com (NASDAQ:MNDY) last announced its earnings results on Friday, March 13th. The company reported $1.15 earnings per share (EPS) for the quarter. monday.com had a return on equity of 5.10% and a net margin of 9.17%.The firm had revenue of $351.27 million during the quarter. On average, equities analysts forecast that monday.com Ltd. will post 1.59 EPS for the current fiscal year.

monday.com Profile

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.