Driehaus Capital Management LLC Acquires 33,606 Shares of monday.com Ltd. (NASDAQ:MNDY)

Driehaus Capital Management LLC boosted its stake in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) by 8.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 410,695 shares of the company's stock after purchasing an additional 33,606 shares during the quarter. monday.com comprises approximately 0.8% of Driehaus Capital Management LLC's investment portfolio, making the stock its 22nd biggest position. Driehaus Capital Management LLC owned about 0.85% of monday.com worth $96,694,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MNDY. Stonebridge Financial Group LLC acquired a new position in shares of monday.com in the fourth quarter valued at about $25,000. Arcadia Investment Management Corp MI bought a new stake in monday.com during the fourth quarter worth about $28,000. R Squared Ltd bought a new stake in monday.com during the fourth quarter worth about $33,000. Signaturefd LLC lifted its position in 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 during the period. Finally, Global Retirement Partners LLC lifted its position in monday.com by 64.8% during the fourth quarter. Global Retirement Partners LLC now owns 150 shares of the company's stock worth $35,000 after purchasing an additional 59 shares during the period. 73.70% of the stock is owned by institutional investors.

monday.com Price Performance

monday.com stock traded up $0.93 during trading hours on Monday, reaching $279.17. The company had a trading volume of 2,040,832 shares, compared to its average volume of 798,159. The company has a 50-day moving average price of $255.69 and a 200 day moving average price of $265.26. The firm has a market cap of $14.17 billion, a price-to-earnings ratio of 465.28, a P/E/G ratio of 16.53 and a beta of 1.32. monday.com Ltd. has a 12-month low of $180.66 and a 12-month high of $342.64.

monday.com (NASDAQ:MNDY - Get Free Report) last announced its quarterly earnings results on Monday, February 10th. The company reported $0.50 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.28). monday.com had a return on equity of 6.22% and a net margin of 3.33%. As a group, research analysts expect that monday.com Ltd. will post 0.46 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on MNDY. Tigress Financial upped their price objective on shares of monday.com from $340.00 to $450.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Jefferies Financial Group lowered their price objective on monday.com from $400.00 to $360.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Scotiabank increased 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. Citigroup upgraded monday.com from a "neutral" rating to a "buy" rating and cut their price target for the stock from $302.00 to $298.00 in a report on Thursday, January 16th. Finally, Cantor Fitzgerald increased their target price on monday.com from $292.00 to $380.00 and gave the stock an "overweight" rating in a report on Tuesday, February 11th. Three analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, monday.com presently has a consensus rating of "Moderate Buy" and a consensus price target of $342.86.

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.