Norges Bank Buys Shares of 495,609 monday.com Ltd. (NASDAQ:MNDY)

Norges Bank purchased a new position in shares of monday.com Ltd. (NASDAQ:MNDY) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 495,609 shares of the company’s stock, valued at approximately $116,686,000. Norges Bank owned about 1.03% of monday.com as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Jennison Associates LLC increased its position in monday.com by 13.7% in the fourth quarter. Jennison Associates LLC now owns 830,811 shares of the company’s stock worth $195,606,000 after buying an additional 100,333 shares during the last quarter. State Street Corp grew its stake in shares of monday.com by 3.8% during the 3rd quarter. State Street Corp now owns 587,879 shares of the company’s stock worth $163,295,000 after acquiring an additional 21,585 shares during the period. Two Sigma Advisers LP increased its holdings in monday.com by 2.9% in the 3rd quarter. Two Sigma Advisers LP now owns 540,300 shares of the company’s stock worth $150,079,000 after acquiring an additional 15,300 shares during the last quarter. SG Americas Securities LLC raised its stake in monday.com by 1,024.7% in the 4th quarter. SG Americas Securities LLC now owns 476,392 shares of the company’s stock valued at $112,162,000 after acquiring an additional 434,035 shares during the period. Finally, Whale Rock Capital Management LLC lifted its holdings in monday.com by 3.3% during the third quarter. Whale Rock Capital Management LLC now owns 402,447 shares of the company’s stock valued at $111,788,000 after purchasing an additional 13,033 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on MNDY. William Blair reiterated an “outperform” rating on shares of monday.com in a research note on Wednesday, December 18th. Loop Capital reduced their price objective 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. Barclays increased their target price on monday.com from $325.00 to $360.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. Cantor Fitzgerald lifted their price target on monday.com from $292.00 to $380.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. Finally, Piper Sandler increased their price objective on monday.com from $345.00 to $385.00 and gave the stock an “overweight” rating in a report on Monday, February 10th. Three investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, monday.com currently has a consensus rating of “Moderate Buy” and an average price target of $352.64.

monday.com Stock Down 1.6 %

NASDAQ MNDY opened at $243.16 on Tuesday. The stock’s 50-day simple moving average is $273.01 and its two-hundred day simple moving average is $270.32. monday.com Ltd. has a twelve month low of $174.75 and a twelve month high of $342.64. The company has a market capitalization of $12.35 billion, a price-to-earnings ratio of 405.27, a PEG ratio of 16.53 and a beta of 1.27.

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