Kornitzer Capital Management Inc. KS Buys Shares of 26,136 monday.com Ltd. (NASDAQ:MNDY)

Kornitzer Capital Management Inc. KS acquired a new position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 26,136 shares of the company's stock, valued at approximately $6,355,000. Kornitzer Capital Management Inc. KS owned approximately 0.05% of monday.com as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of MNDY. FMR LLC boosted its stake in 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 acquiring an additional 1,189,858 shares during the last quarter. Rubicon Global Capital Ltd acquired a new stake in shares of monday.com during the first quarter worth about $137,434,000. Norges Bank bought a new position in shares of monday.com during the 4th quarter valued at about $116,686,000. T. Rowe Price Investment Management Inc. acquired a new position in shares of monday.com in the 4th quarter valued at approximately $109,605,000. Finally, CIBC Private Wealth Group LLC increased its stake in monday.com by 264.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company's stock worth $126,407,000 after purchasing an additional 403,255 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors.

monday.com Stock Performance

MNDY traded up $1.96 on Friday, reaching $291.80. The company had a trading volume of 272,298 shares, compared to its average volume of 736,815. The stock has a market cap of $14.81 billion, a P/E ratio of 297.76, a P/E/G ratio of 104.88 and a beta of 1.30. monday.com Ltd. has a fifty-two week low of $188.01 and a fifty-two week high of $342.64. The company's fifty day moving average is $296.33 and its 200 day moving average is $273.04.

monday.com (NASDAQ:MNDY - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating 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 return on equity of 7.87% and a net margin of 5.08%. The firm's quarterly revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.61 EPS. On average, sell-side analysts expect that monday.com Ltd. will post 0.46 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Barclays cut their price target on shares of monday.com from $360.00 to $345.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 13th. Scotiabank upped 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 note on Friday, May 2nd. Piper Sandler reissued an "overweight" rating and issued a $325.00 price target on shares of monday.com in a research note on Friday, June 27th. Wells Fargo & Company set a $365.00 price target on monday.com and gave the company an "overweight" rating in a report on Friday, June 13th. Finally, Jefferies Financial Group dropped their target price on monday.com from $400.00 to $360.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Five research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, monday.com has a consensus rating of "Moderate Buy" and an average target price of $349.23.

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.