Teacher Retirement System of Texas Boosts Stake in monday.com Ltd. (NASDAQ:MNDY)

Teacher Retirement System of Texas grew its stake in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 920.2% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 101,942 shares of the company's stock after purchasing an additional 91,950 shares during the period. Teacher Retirement System of Texas owned approximately 0.20% of monday.com worth $24,788,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. First Horizon Advisors Inc. lifted its stake in shares of monday.com by 72.9% in the first quarter. First Horizon Advisors Inc. now owns 166 shares of the company's stock valued at $40,000 after purchasing an additional 70 shares during the period. WCM Investment Management LLC increased its holdings in monday.com by 0.4% in the first quarter. WCM Investment Management LLC now owns 4,078,985 shares of the company's stock valued at $1,007,550,000 after buying an additional 17,371 shares in the last quarter. Summit Trail Advisors LLC increased its holdings in monday.com by 18.9% in the first quarter. Summit Trail Advisors LLC now owns 59,942 shares of the company's stock valued at $14,575,000 after buying an additional 9,529 shares in the last quarter. WT Asset Management Ltd acquired a new stake in shares of monday.com during the 1st quarter valued at approximately $8,664,000. Finally, Vontobel Holding Ltd. purchased a new stake in shares of monday.com during the 1st quarter worth approximately $221,000. 73.70% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on MNDY. Morgan Stanley initiated coverage on monday.com in a report on Tuesday, June 17th. They issued an "equal weight" rating and a $330.00 price target on the stock. Scotiabank upped their target price on monday.com from $315.00 to $330.00 and gave the company a "sector outperform" rating in a report on Friday, May 2nd. Canaccord Genuity Group dropped their price target on monday.com from $375.00 to $350.00 and set a "buy" rating for the company in a research report on Tuesday, May 13th. JPMorgan Chase & Co. cut their price target on monday.com from $400.00 to $350.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $400.00 price objective on shares of monday.com in a research note on Tuesday, May 13th. Five analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $347.09.

monday.com Stock Performance

monday.com stock traded up $1.21 during trading on Friday, hitting $301.07. The company's stock had a trading volume of 296,823 shares, compared to its average volume of 740,194. The stock's fifty day moving average is $292.76 and its 200 day moving average is $269.07. monday.com Ltd. has a 1-year low of $188.01 and a 1-year high of $342.64. The stock has a market capitalization of $15.29 billion, a price-to-earnings ratio of 307.22, a P/E/G ratio of 111.23 and a beta of 1.30.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $0.70 by $0.40. monday.com had a net margin of 5.08% and a return on equity of 7.87%. The company had revenue of $282.25 million during the quarter, compared to the consensus estimate of $275.93 million. During the same quarter in the prior year, the company posted $0.61 EPS. The company's quarterly revenue was up 30.2% compared to the same quarter last year. On average, research analysts anticipate that monday.com Ltd. will post 0.46 EPS for the current fiscal 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.