Tairen Capital Ltd Raises Holdings in monday.com Ltd. (NASDAQ:MNDY)

Tairen Capital Ltd increased its position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 198.5% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 19,400 shares of the company's stock after buying an additional 12,900 shares during the quarter. Tairen Capital Ltd's holdings in monday.com were worth $4,568,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in MNDY. FMR LLC increased 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 acquiring an additional 1,189,858 shares during the period. Jennison Associates LLC grew its position in monday.com by 13.7% during the 4th quarter. Jennison Associates LLC now owns 830,811 shares of the company's stock worth $195,606,000 after purchasing an additional 100,333 shares during the last quarter. CIBC Private Wealth Group LLC increased its stake in monday.com by 264.1% in the fourth quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company's stock valued at $126,407,000 after purchasing an additional 403,255 shares during the period. Arrowstreet Capital Limited Partnership raised its holdings 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 valued at $117,708,000 after buying an additional 96,222 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of monday.com in the fourth quarter valued at about $116,686,000. Institutional investors and hedge funds own 73.70% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Jefferies Financial Group dropped their price target 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. Wall Street Zen upgraded monday.com from a "hold" rating to a "buy" rating in a research note on Thursday. Canaccord Genuity Group cut their price target on monday.com from $375.00 to $350.00 and set a "buy" rating for the company in a research note on Tuesday, May 13th. JPMorgan Chase & Co. decreased their price target on monday.com from $400.00 to $350.00 and set an "overweight" rating for the company in a report on Tuesday, May 6th. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $400.00 price objective on shares of monday.com in a research report on Tuesday, May 13th. Three equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $346.50.

monday.com Price Performance

Shares of MNDY stock traded down $0.78 during midday trading on Friday, reaching $288.91. 142,648 shares of the company traded hands, compared to its average volume of 761,916. The firm's 50 day simple moving average is $262.61 and its two-hundred day simple moving average is $265.28. The firm has a market cap of $14.67 billion, a PE ratio of 481.52, a price-to-earnings-growth ratio of 16.53 and a beta of 1.32. monday.com Ltd. has a 1-year low of $188.01 and a 1-year high of $342.64.

monday.com (NASDAQ:MNDY - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $282.25 million during the quarter, compared to analysts' expectations of $275.93 million. monday.com had a return on equity of 6.22% and a net margin of 3.33%. monday.com's revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.61 earnings per share. As a group, research analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current fiscal 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.