WT Asset Management Ltd Invests $8.66 Million in monday.com Ltd. (NASDAQ:MNDY)

WT Asset Management Ltd bought a new stake in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 35,629 shares of the company's stock, valued at approximately $8,664,000. monday.com accounts for about 1.0% of WT Asset Management Ltd's portfolio, making the stock its 22nd largest position. WT Asset Management Ltd owned approximately 0.07% of monday.com as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Grove Bank & Trust acquired a new position in shares of monday.com during the first quarter valued at approximately $30,000. Signaturefd LLC increased its position in shares of monday.com by 157.1% during the fourth quarter. Signaturefd LLC now owns 144 shares of the company's stock worth $34,000 after purchasing an additional 88 shares in the last quarter. Loomis Sayles & Co. L P acquired a new position in monday.com in the 4th quarter valued at $44,000. Farther Finance Advisors LLC raised its stake in monday.com by 32.7% in 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 last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in monday.com in the 1st quarter valued at $64,000. Hedge funds and other institutional investors own 73.70% of the company's stock.

monday.com Stock Performance

monday.com stock traded up $1.21 during midday trading on Thursday, reaching $301.07. The company's stock had a trading volume of 296,804 shares, compared to its average volume of 736,966. The firm has a market capitalization of $15.29 billion, a PE ratio of 307.22, a P/E/G ratio of 109.91 and a beta of 1.30. monday.com Ltd. has a fifty-two week low of $188.01 and a fifty-two week high of $342.64. The stock's 50 day simple moving average is $291.51 and its 200 day simple moving average is $268.28.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its 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 return on equity of 7.87% and a net margin of 5.08%. The firm had revenue of $282.25 million for the quarter, compared to analysts' expectations of $275.93 million. During the same quarter in the prior year, the firm earned $0.61 EPS. monday.com's quarterly revenue was up 30.2% on a year-over-year basis. Equities analysts predict that monday.com Ltd. will post 0.46 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on MNDY shares. Morgan Stanley started coverage on shares of monday.com in a report on Tuesday, June 17th. They set an "equal weight" rating and a $330.00 target price for the company. 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 report on Monday, March 31st. DA Davidson dropped their price objective on shares of monday.com from $350.00 to $290.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Scotiabank raised their target price on shares of monday.com from $315.00 to $330.00 and gave the stock a "sector outperform" rating in a research note on Friday, May 2nd. Finally, Piper Sandler restated an "overweight" rating and set a $325.00 target price on shares of monday.com in a report on Friday, June 27th. Four equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $347.09.

monday.com Company 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.