Sumitomo Mitsui Trust Holdings Inc. Purchases 7,955 Shares of monday.com Ltd. (NASDAQ:MNDY)

Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 19.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 47,864 shares of the company’s stock after acquiring an additional 7,955 shares during the period. Sumitomo Mitsui Trust Holdings Inc.’s holdings in monday.com were worth $8,989,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Crewe Advisors LLC lifted its stake in shares of monday.com by 44.9% during the 3rd quarter. Crewe Advisors LLC now owns 229 shares of the company’s stock valued at $36,000 after buying an additional 71 shares in the last quarter. Arlington Partners LLC lifted its stake in shares of monday.com by 104.1% during the 3rd quarter. Arlington Partners LLC now owns 247 shares of the company’s stock valued at $39,000 after buying an additional 126 shares in the last quarter. Compagnie Lombard Odier SCmA purchased a new stake in shares of monday.com during the 3rd quarter valued at approximately $48,000. Sandy Spring Bank purchased a new stake in shares of monday.com during the 3rd quarter valued at approximately $72,000. Finally, BluePath Capital Management LLC purchased a new stake in shares of monday.com during the 3rd quarter valued at approximately $116,000. 73.70% of the stock is owned by institutional investors.

monday.com Stock Performance

MNDY stock opened at $184.79 on Wednesday. monday.com Ltd. has a 52 week low of $108.35 and a 52 week high of $239.22. The firm’s fifty day moving average is $214.29 and its 200 day moving average is $189.44. The firm has a market cap of $8.92 billion, a P/E ratio of -2,639.48 and a beta of 1.18.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, February 12th. The company reported $0.65 EPS for the quarter, beating the consensus estimate of $0.32 by $0.33. monday.com had a negative net margin of 0.26% and a negative return on equity of 0.43%. The company had revenue of $202.60 million for the quarter, compared to analyst estimates of $197.97 million. During the same quarter last year, the firm earned ($0.03) EPS. The firm’s quarterly revenue was up 35.5% compared to the same quarter last year. As a group, analysts forecast that monday.com Ltd. will post -0.16 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on MNDY. KeyCorp began coverage on shares of monday.com in a research note on Thursday, March 21st. They set an “overweight” rating and a $275.00 price target on the stock. DA Davidson reiterated a “neutral” rating and issued a $190.00 target price on shares of monday.com in a research note on Tuesday, February 13th. Citigroup cut shares of monday.com from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $277.00 to $250.00 in a research note on Wednesday, April 10th. JPMorgan Chase & Co. increased their target price on shares of monday.com from $230.00 to $270.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Finally, Jefferies Financial Group upgraded shares of monday.com from a “hold” rating to a “buy” rating and increased their target price for the stock from $180.00 to $230.00 in a research note on Friday, January 5th. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $240.00.

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.