Rakuten Securities Inc. Purchases 319 Shares of monday.com Ltd. (NASDAQ:MNDY)

Rakuten Securities Inc. grew its holdings in monday.com Ltd. (NASDAQ:MNDY) by 3.6% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,299 shares of the company’s stock after buying an additional 319 shares during the quarter. monday.com accounts for approximately 1.1% of Rakuten Securities Inc.’s holdings, making the stock its 17th biggest holding. Rakuten Securities Inc.’s holdings in monday.com were worth $2,583,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its position in monday.com by 1.0% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,164,566 shares of the company’s stock worth $714,781,000 after purchasing an additional 31,304 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of monday.com by 20.2% during the 2nd quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock worth $270,299,000 after buying an additional 188,800 shares during the period. 1832 Asset Management L.P. boosted its stake in monday.com by 34.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock valued at $160,707,000 after buying an additional 170,800 shares in the last quarter. Eminence Capital LP boosted its stake in monday.com by 1.4% in the 2nd quarter. Eminence Capital LP now owns 470,717 shares of the company’s stock valued at $113,330,000 after buying an additional 6,349 shares in the last quarter. Finally, Westfield Capital Management Co. LP grew its position in monday.com by 33.0% in the first quarter. Westfield Capital Management Co. LP now owns 415,584 shares of the company’s stock valued at $93,868,000 after acquiring an additional 103,094 shares during the period. 73.70% of the stock is owned by institutional investors.

monday.com Trading Down 15.1 %

NASDAQ:MNDY opened at $275.21 on Tuesday. The firm has a market capitalization of $13.29 billion, a price-to-earnings ratio of 344.01, a PEG ratio of 15.22 and a beta of 1.31. monday.com Ltd. has a 1-year low of $150.10 and a 1-year high of $324.99. The business’s 50-day moving average price is $279.07 and its two-hundred day moving average price is $246.86.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, August 12th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.23. monday.com had a net margin of 4.88% and a return on equity of 4.74%. The business had revenue of $236.11 million for the quarter, compared to analyst estimates of $227.96 million. Sell-side analysts predict that monday.com Ltd. will post 0.5 earnings per share for the current year.

Wall Street Analyst Weigh In

MNDY has been the topic of several recent analyst reports. Loop Capital boosted their target price on shares of monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Wells Fargo & Company boosted their price target on shares of monday.com from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Citigroup raised their price objective on shares of monday.com from $296.00 to $327.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. The Goldman Sachs Group boosted their target price on monday.com from $300.00 to $340.00 and gave the stock a “buy” rating in a report on Tuesday, August 13th. Finally, Piper Sandler lifted their price objective on monday.com from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday. Five research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $306.60.

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.