Retirement Systems of Alabama Buys Shares of 12,580 monday.com Ltd. (NASDAQ:MNDY)

Retirement Systems of Alabama bought a new position in monday.com Ltd. (NASDAQ:MNDY - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 12,580 shares of the company's stock, valued at approximately $3,059,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Grove Bank & Trust purchased a new position in monday.com in the 1st quarter valued at approximately $30,000. Signaturefd LLC boosted its holdings in shares of monday.com by 157.1% in the fourth quarter. Signaturefd LLC now owns 144 shares of the company's stock worth $34,000 after acquiring an additional 88 shares during the period. Global Retirement Partners LLC grew its position in shares of monday.com by 64.8% in the fourth quarter. Global Retirement Partners LLC now owns 150 shares of the company's stock valued at $35,000 after purchasing an additional 59 shares in the last quarter. Loomis Sayles & Co. L P bought a new stake in shares of monday.com during the 4th quarter valued at $44,000. Finally, Farther Finance Advisors LLC raised its stake in shares of monday.com by 32.7% during the 1st quarter. Farther Finance Advisors LLC now owns 211 shares of the company's stock valued at $55,000 after purchasing an additional 52 shares during the period. Institutional investors own 73.70% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MNDY. Barclays reduced their target price on monday.com from $360.00 to $345.00 and set an "overweight" rating for the company in a report on Tuesday, May 13th. Needham & Company LLC reaffirmed a "buy" rating and set a $400.00 price objective on shares of monday.com in a research note on Tuesday, May 13th. Jefferies Financial Group decreased their target price on shares of monday.com from $400.00 to $360.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Wall Street Zen raised shares of monday.com from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Finally, UBS Group decreased their price target on shares of monday.com from $350.00 to $310.00 and set a "neutral" rating on the stock in a report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat, monday.com has a consensus rating of "Moderate Buy" and a consensus price target of $347.09.

monday.com Trading Up 0.8%

NASDAQ MNDY traded up $2.34 during trading on Friday, hitting $307.86. The company had a trading volume of 45,561 shares, compared to its average volume of 736,837. The company's fifty day moving average is $286.21 and its 200-day moving average is $267.48. monday.com Ltd. has a one year low of $188.01 and a one year high of $342.64. The company has a market cap of $15.63 billion, a price-to-earnings ratio of 314.52, a price-to-earnings-growth ratio of 107.96 and a beta of 1.30.

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