TenCore Partners LP Raises Holdings in monday.com Ltd. (NASDAQ:MNDY)

TenCore Partners LP raised its position in monday.com Ltd. (NASDAQ:MNDY) by 8.8% in the 4th quarter, HoldingsChannel reports. The fund owned 104,785 shares of the company’s stock after purchasing an additional 8,491 shares during the period. monday.com makes up about 12.2% of TenCore Partners LP’s investment portfolio, making the stock its 4th biggest holding. TenCore Partners LP’s holdings in monday.com were worth $24,671,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Barclays PLC raised its stake in shares of monday.com by 225.8% in the third quarter. Barclays PLC now owns 17,427 shares of the company’s stock valued at $4,840,000 after purchasing an additional 12,078 shares in the last quarter. Principal Financial Group Inc. increased its holdings in monday.com by 35.8% in the 3rd quarter. Principal Financial Group Inc. now owns 53,306 shares of the company’s stock valued at $14,807,000 after buying an additional 14,059 shares during the period. Park Avenue Securities LLC bought a new stake in monday.com in the 4th quarter valued at $241,000. Oak Ridge Investments LLC acquired a new position in shares of monday.com in the 4th quarter valued at $633,000. Finally, Legal Advantage Investments Inc. bought a new position in shares of monday.com during the 4th quarter worth about $235,000. Institutional investors own 73.70% of the company’s stock.

monday.com Stock Performance

Shares of NASDAQ:MNDY opened at $293.13 on Friday. The business has a fifty day moving average of $259.42 and a 200-day moving average of $265.15. monday.com Ltd. has a twelve month low of $188.01 and a twelve month high of $342.64. The firm has a market cap of $14.88 billion, a PE ratio of 488.55, a price-to-earnings-growth ratio of 16.53 and a beta of 1.32.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.40. monday.com had a net margin of 3.33% and a return on equity of 6.22%. The firm had revenue of $282.25 million during the quarter, compared to analysts’ expectations of $275.93 million. During the same quarter last year, the company posted $0.61 EPS. The company’s quarterly revenue was up 30.2% compared to the same quarter last year. On average, analysts anticipate that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $400.00 target price on shares of monday.com in a research note on Tuesday, May 13th. Cantor Fitzgerald lifted their price objective on monday.com from $292.00 to $380.00 and gave the company an “overweight” rating in a report on Tuesday, February 11th. Loop Capital lowered their price objective on monday.com from $385.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, May 13th. Barclays dropped their target price on monday.com from $360.00 to $345.00 and set an “overweight” rating for the company in a report on Tuesday, May 13th. Finally, Jefferies Financial Group cut their target price on monday.com from $400.00 to $360.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Three research 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, the company has a consensus rating of “Moderate Buy” and an average price target of $346.50.

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.