Viking Fund Management LLC Purchases New Shares in monday.com Ltd. (NASDAQ:MNDY)

Viking Fund Management LLC purchased a new position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 5,000 shares of the company's stock, valued at approximately $1,216,000.

Other hedge funds have also recently bought and sold shares of the company. Oppenheimer & Co. Inc. raised its stake in shares of monday.com by 24.2% in the 4th quarter. Oppenheimer & Co. Inc. now owns 6,765 shares of the company's stock valued at $1,593,000 after purchasing an additional 1,318 shares during the period. SBI Securities Co. Ltd. acquired a new stake in shares of monday.com in the 4th quarter valued at about $245,000. Bank of Montreal Can raised its position in monday.com by 62.0% in the 4th quarter. Bank of Montreal Can now owns 22,097 shares of the company's stock valued at $5,203,000 after buying an additional 8,454 shares during the last quarter. Bailard Inc. raised its position in monday.com by 147.5% in the 4th quarter. Bailard Inc. now owns 7,055 shares of the company's stock valued at $1,661,000 after buying an additional 4,204 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in monday.com by 3.4% in the 4th quarter. Bank of New York Mellon Corp now owns 255,455 shares of the company's stock valued at $60,144,000 after buying an additional 8,329 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

monday.com Trading Up 0.1%

Shares of NASDAQ:MNDY traded up $0.29 on Friday, hitting $305.29. The company had a trading volume of 293,774 shares, compared to its average volume of 743,920. monday.com Ltd. has a 1-year low of $188.01 and a 1-year high of $342.64. The stock has a market cap of $15.50 billion, a price-to-earnings ratio of 508.82, a P/E/G ratio of 16.53 and a beta of 1.30. The stock has a 50 day moving average price of $270.87 and a 200 day moving average price of $266.55.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its quarterly earnings results 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 3.33% and a return on equity of 6.22%. The business had revenue of $282.25 million for the quarter, compared to analyst estimates of $275.93 million. During the same quarter in the prior year, the business earned $0.61 EPS. monday.com's quarterly revenue was up 30.2% on a year-over-year basis. Sell-side analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MNDY shares. Needham & Company LLC reiterated a "buy" rating and issued a $400.00 price objective on shares of monday.com in a report on Tuesday, May 13th. JPMorgan Chase & Co. lowered their price target on shares of monday.com from $400.00 to $350.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Jefferies Financial Group lowered their price target on shares of monday.com from $400.00 to $360.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Piper Sandler lifted their price target on shares of monday.com from $305.00 to $325.00 and gave the company an "overweight" rating in a research note on Monday, May 12th. Finally, Robert W. Baird lifted their target price on monday.com from $275.00 to $335.00 and gave the company a "neutral" rating in a research report on Tuesday, February 11th. Three equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $346.50.

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.