Harbour Capital Advisors LLC Makes New Investment in monday.com Ltd. (NASDAQ:MNDY)

Harbour Capital Advisors LLC purchased a new stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,270 shares of the company's stock, valued at approximately $297,000.

Several other large investors have also recently added to or reduced their stakes in MNDY. FMR LLC increased its stake in shares of monday.com by 78.7% in the fourth 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 bought a new stake in monday.com during the 1st quarter worth about $137,434,000. CIBC Private Wealth Group LLC increased its position in monday.com by 264.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company's stock valued at $126,407,000 after acquiring an additional 403,255 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of monday.com by 23.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 499,950 shares of the company's stock worth $117,708,000 after acquiring an additional 96,222 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of monday.com during the fourth quarter worth approximately $116,686,000. 73.70% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MNDY shares. Canaccord Genuity Group lowered their price target on shares of monday.com from $375.00 to $350.00 and set a "buy" rating for the company in a report on Tuesday, May 13th. UBS Group lowered their target price on monday.com from $350.00 to $310.00 and set a "neutral" rating for the company in a research note on Tuesday, April 29th. DA Davidson cut their price target on monday.com from $350.00 to $290.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Barclays decreased their price target on monday.com from $360.00 to $345.00 and set an "overweight" rating on the stock in a report on Tuesday, May 13th. Finally, Scotiabank boosted their price objective on monday.com from $315.00 to $330.00 and gave the stock a "sector outperform" rating in a report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, monday.com presently has a consensus rating of "Moderate Buy" and an average price target of $347.09.

monday.com Price Performance

Shares of monday.com stock traded up $7.16 during trading hours on Thursday, hitting $305.52. The company's stock had a trading volume of 374,210 shares, compared to its average volume of 739,643. monday.com Ltd. has a 12 month low of $188.01 and a 12 month high of $342.64. The company has a market capitalization of $15.51 billion, a PE ratio of 311.76, a price-to-earnings-growth ratio of 108.67 and a beta of 1.30. The stock has a 50 day moving average of $285.02 and a 200 day moving average of $267.37.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.70 by $0.40. The firm had revenue of $282.25 million for 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 business's quarterly revenue was up 30.2% on a year-over-year basis. During the same period last year, the company posted $0.61 EPS. Equities analysts expect that monday.com Ltd. will post 0.46 EPS for the current year.

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.