WCM Investment Management LLC Purchases 17,371 Shares of monday.com Ltd. (NASDAQ:MNDY)

WCM Investment Management LLC raised its holdings in monday.com Ltd. (NASDAQ:MNDY - Free Report) by 0.4% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,078,985 shares of the company's stock after buying an additional 17,371 shares during the period. monday.com comprises approximately 2.6% of WCM Investment Management LLC's investment portfolio, making the stock its 15th biggest holding. WCM Investment Management LLC owned approximately 8.03% of monday.com worth $1,007,550,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MNDY. Sanctuary Advisors LLC bought a new stake in monday.com in the 4th quarter valued at $290,000. Bank of New York Mellon Corp raised its position in shares of monday.com by 3.4% in the fourth quarter. Bank of New York Mellon Corp now owns 255,455 shares of the company's stock valued at $60,144,000 after purchasing an additional 8,329 shares during the period. New York Life Investment Management LLC acquired a new stake in shares of monday.com during the 4th quarter worth about $202,000. Oppenheimer & Co. Inc. boosted its holdings in shares of monday.com by 24.2% during the 4th quarter. Oppenheimer & Co. Inc. now owns 6,765 shares of the company's stock worth $1,593,000 after buying an additional 1,318 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in shares of monday.com by 904.8% during the 4th quarter. Jones Financial Companies Lllp now owns 834 shares of the company's stock worth $196,000 after buying an additional 751 shares during the period. 73.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Needham & Company LLC restated a "buy" rating and set a $400.00 price objective on shares of monday.com in a research report on Tuesday, May 13th. Wall Street Zen raised monday.com from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Piper Sandler reaffirmed an "overweight" rating and issued a $325.00 price objective on shares of monday.com in a report on Friday, June 27th. Morgan Stanley started coverage on monday.com in a research report on Tuesday, June 17th. They set an "equal weight" rating and a $330.00 price objective on the stock. Finally, Scotiabank boosted their target price on shares of monday.com from $315.00 to $330.00 and gave the company a "sector outperform" rating in a research report on Friday, May 2nd. 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.com, monday.com has an average rating of "Moderate Buy" and a consensus target price of $347.09.

monday.com Price Performance

NASDAQ:MNDY traded down $3.90 during trading hours on Wednesday, hitting $299.86. The company's stock had a trading volume of 366,338 shares, compared to its average volume of 737,471. monday.com Ltd. has a twelve month low of $188.01 and a twelve month high of $342.64. The stock has a fifty day simple moving average of $290.47 and a 200-day simple moving average of $268.06. The company has a market capitalization of $15.22 billion, a P/E ratio of 305.98, a PEG ratio of 113.79 and a beta of 1.30.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping analysts' consensus estimates 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 net margin of 5.08% and a return on equity of 7.87%. The business's revenue for the quarter was up 30.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 earnings per share. On average, equities analysts predict that monday.com Ltd. will post 0.46 EPS 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.