Quantbot Technologies LP Acquires Shares of 10,696 monday.com Ltd. (NASDAQ:MNDY)

Quantbot Technologies LP purchased a new position in monday.com Ltd. (NASDAQ:MNDY) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,696 shares of the company’s stock, valued at approximately $2,971,000.

A number of other hedge funds have also recently made changes to their positions in MNDY. FMR LLC lifted its stake in monday.com by 112.0% in the third quarter. FMR LLC now owns 1,512,094 shares of the company’s stock worth $420,014,000 after acquiring an additional 798,791 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of monday.com by 8.0% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 13,349 shares of the company’s stock worth $3,708,000 after buying an additional 994 shares during the last quarter. West Tower Group LLC grew its position in shares of monday.com by 38.5% in the 3rd quarter. West Tower Group LLC now owns 1,800 shares of the company’s stock worth $500,000 after buying an additional 500 shares during the last quarter. Independent Advisor Alliance acquired a new stake in monday.com in the 3rd quarter worth approximately $201,000. Finally, Daiwa Securities Group Inc. boosted its stake in monday.com by 7.1% in the 3rd quarter. Daiwa Securities Group Inc. now owns 3,011 shares of the company’s stock worth $836,000 after purchasing an additional 200 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MNDY shares. Scotiabank started coverage on shares of monday.com in a research note on Tuesday, November 19th. They issued a “sector outperform” rating and a $325.00 target price for the company. Canaccord Genuity Group lifted their target price on shares of monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Tigress Financial lifted their target price on shares of monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. TD Cowen lifted their price objective on shares of monday.com from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Finally, Barclays lifted their price objective on shares of monday.com from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $310.81.

monday.com Price Performance

MNDY opened at $286.95 on Thursday. The firm has a fifty day moving average price of $283.48 and a 200 day moving average price of $253.30. monday.com Ltd. has a 1 year low of $170.00 and a 1 year high of $324.99. The stock has a market cap of $13.85 billion, a P/E ratio of 697.29, a P/E/G ratio of 8.25 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, November 11th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.61 by $0.24. The company had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The firm’s revenue was up 49.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 EPS. Equities analysts expect that monday.com Ltd. will post 0.85 EPS for the current year.

monday.com 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.