Andar Capital Management HK Ltd Buys 6,920 Shares of monday.com Ltd. (NASDAQ:MNDY)

Key Points

• Andar Capital Management HK Ltd increased its stake in monday.com Ltd. by 68.7% in the first quarter, owning a total of 17,000 shares worth approximately $4.13 million.
• monday.com reported a quarterly earnings per share (EPS) of $1.10, surpassing consensus estimates by $0.40, with revenue growth of 30.2% year-over-year.
• Recent analyst reports downgraded monday.com's stock price targets, with firms like JPMorgan Chase & Co. and UBS Group adjusting their price objectives downwards, indicating mixed sentiment from analysts.

Andar Capital Management HK Ltd increased its holdings in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 68.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,000 shares of the company's stock after acquiring an additional 6,920 shares during the quarter. monday.com comprises 8.0% of Andar Capital Management HK Ltd's investment portfolio, making the stock its 5th biggest position. Andar Capital Management HK Ltd's holdings in monday.com were worth $4,134,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of MNDY. WCM Investment Management LLC raised its stake in shares of monday.com by 0.4% in the 1st quarter. WCM Investment Management LLC now owns 4,078,985 shares of the company's stock valued at $1,007,550,000 after acquiring an additional 17,371 shares during the period. FMR LLC boosted its holdings in shares of monday.com by 78.7% in the 4th quarter. FMR LLC now owns 2,701,952 shares of the company's stock valued at $636,147,000 after buying an additional 1,189,858 shares in the last quarter. Rubicon Global Capital Ltd acquired a new position in shares of monday.com in the 1st quarter valued at $137,434,000. T. Rowe Price Investment Management Inc. acquired a new stake in monday.com during the 4th quarter worth $109,605,000. Finally, Assenagon Asset Management S.A. boosted its stake in monday.com by 754.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 440,622 shares of the company's stock worth $107,142,000 after purchasing an additional 389,073 shares during the period. 73.70% of the stock is currently owned by institutional investors and hedge funds.

monday.com Stock Down 4.5%

MNDY stock traded down $11.75 during trading on Friday, hitting $250.54. 1,190,288 shares of the company's stock traded hands, compared to its average volume of 492,614. monday.com Ltd. has a 52 week low of $188.01 and a 52 week high of $342.64. The stock has a market capitalization of $12.72 billion, a price-to-earnings ratio of 255.65, a price-to-earnings-growth ratio of 90.66 and a beta of 1.27. The stock has a fifty day moving average price of $294.10 and a two-hundred day moving average price of $277.24.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.70 by $0.40. The business had revenue of $282.25 million during the quarter, compared to the consensus estimate of $275.93 million. monday.com had a net margin of 5.08% and a return on equity of 7.87%. The company's quarterly revenue was up 30.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.61 earnings per share. As a group, equities research analysts expect that monday.com Ltd. will post 0.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. DA Davidson reduced their target price on shares of monday.com from $350.00 to $290.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Barclays dropped their target price on shares of monday.com from $360.00 to $345.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price target on shares of monday.com from $400.00 to $350.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Scotiabank raised their target price on shares of monday.com from $315.00 to $330.00 and gave the stock a "sector outperform" rating in a research report on Friday, May 2nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $400.00 price target on shares of monday.com in a research report on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, monday.com currently has an average rating of "Moderate Buy" and an average price target of $349.23.

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.