Renaissance Technologies LLC Has $150.80 Million Stock Position in monday.com Ltd. $MNDY

Key Points

• Renaissance Technologies nearly doubled its monday.com position in Q1, increasing its stake by 93.3% to 2.18 million shares worth about $150.8 million.
• Institutional ownership remains high, with 73.7% of monday.com shares held by institutional investors and several other funds also adding to or initiating positions in the stock.
• monday.com shares were up 7.9% to $77.43, while analysts currently maintain a Moderate Buy consensus with an average target price of $126.04.

Renaissance Technologies LLC increased its stake in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 93.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,181,990 shares of the company's stock after buying an additional 1,052,900 shares during the quarter. Renaissance Technologies LLC owned approximately 4.27% of monday.com worth $150,797,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MNDY. AMS Capital Ltda acquired a new stake in monday.com in the fourth quarter valued at $4,055,000. Migdal Insurance & Financial Holdings Ltd. raised its holdings in shares of monday.com by 75.9% in the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 139,009 shares of the company's stock valued at $20,512,000 after purchasing an additional 60,000 shares during the period. NewEdge Wealth LLC bought a new stake in shares of monday.com in the 4th quarter valued at about $5,635,000. Allspring Global Investments Holdings LLC bought a new stake in shares of monday.com in the 4th quarter valued at about $6,200,000. Finally, SEB Asset Management AB acquired a new stake in monday.com in the 1st quarter valued at about $1,639,000. 73.70% of the stock is owned by institutional investors.

monday.com Stock Up 7.9%

Shares of NASDAQ:MNDY opened at $77.43 on Friday. monday.com Ltd. has a 12-month low of $57.50 and a 12-month high of $295.00. The business has a 50 day moving average of $78.63 and a 200-day moving average of $83.58. The stock has a market cap of $3.96 billion, a PE ratio of 33.67, a P/E/G ratio of 3.59 and a beta of 1.26.

monday.com (NASDAQ:MNDY - Get Free Report) last released its quarterly earnings results on Friday, March 13th. The company reported $1.15 earnings per share for the quarter. The business had revenue of $351.26 million during the quarter. monday.com had a return on equity of 5.10% and a net margin of 9.17%. Equities research analysts expect that monday.com Ltd. will post 1.59 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on MNDY shares. Piper Sandler lifted their price target on monday.com from $85.00 to $90.00 and gave the stock a "neutral" rating in a report on Monday, May 11th. BTIG Research cut their price objective on monday.com from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Tuesday, July 14th. Tigress Financial reduced their target price on monday.com to $165.00 and set a "buy" rating for the company in a research note on Friday, May 22nd. Guggenheim set a $130.00 target price on monday.com and gave the stock a "buy" rating in a report on Thursday, April 9th. Finally, Citigroup dropped their price target on monday.com from $176.00 to $154.00 and set a "buy" rating on the stock in a research note on Tuesday, May 12th. Seventeen investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, monday.com has a consensus rating of "Moderate Buy" and an average target price of $126.04.

monday.com Profile

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com's visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company's product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.

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