Andar Capital Management HK Ltd Buys Shares of 16,000 monday.com Ltd. (NASDAQ:MNDY)

Andar Capital Management HK Ltd purchased a new position in shares of monday.com Ltd. (NASDAQ:MNDY - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 16,000 shares of the company's stock, valued at approximately $3,005,000. monday.com makes up about 4.2% of Andar Capital Management HK Ltd's portfolio, making the stock its 12th biggest holding.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC raised its position in monday.com by 44.9% during the third quarter. Crewe Advisors LLC now owns 229 shares of the company's stock worth $36,000 after acquiring an additional 71 shares in the last quarter. Desjardins Global Asset Management Inc. raised its position in shares of monday.com by 222.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the company's stock valued at $25,000 after purchasing an additional 91 shares during the period. Harel Insurance Investments & Financial Services Ltd. raised its position in shares of monday.com by 13.0% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 806 shares of the company's stock valued at $151,000 after purchasing an additional 93 shares during the period. Arlington Partners LLC raised its position in shares of monday.com by 104.1% in the third quarter. Arlington Partners LLC now owns 247 shares of the company's stock valued at $39,000 after purchasing an additional 126 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its position in shares of monday.com by 21.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 834 shares of the company's stock valued at $131,000 after purchasing an additional 145 shares during the period. 73.70% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

MNDY has been the topic of several research analyst reports. Jefferies Financial Group raised shares of monday.com from a "hold" rating to a "buy" rating and increased their price objective for the company from $180.00 to $230.00 in a research report on Friday, January 5th. Tigress Financial raised their price target on shares of monday.com from $240.00 to $280.00 and gave the stock a "buy" rating in a research report on Tuesday, March 5th. Piper Sandler reiterated an "overweight" rating and set a $250.00 price objective on shares of monday.com in a research note on Tuesday, February 13th. DA Davidson reiterated a "neutral" rating and set a $190.00 price objective on shares of monday.com in a research note on Tuesday, February 13th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $230.00 price objective on shares of monday.com in a research note on Tuesday. Three analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, monday.com currently has a consensus rating of "Moderate Buy" and an average target price of $240.00.

monday.com Stock Performance

Shares of MNDY traded up $0.62 during mid-day trading on Wednesday, reaching $189.95. The company had a trading volume of 1,000,695 shares, compared to its average volume of 801,760. The company's 50 day simple moving average is $210.99 and its 200 day simple moving average is $190.92. monday.com Ltd. has a 1-year low of $108.35 and a 1-year high of $239.22. The company has a market capitalization of $9.17 billion, a price-to-earnings ratio of -2,713.57 and a beta of 1.18.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its quarterly earnings results on Monday, February 12th. The company reported $0.65 earnings per share for the quarter, beating analysts' consensus estimates of $0.32 by $0.33. The company had revenue of $202.60 million for the quarter, compared to the consensus estimate of $197.97 million. monday.com had a negative net margin of 0.26% and a negative return on equity of 0.43%. The firm's quarterly revenue was up 35.5% compared to the same quarter last year. During the same period last year, the company posted ($0.03) EPS. As a group, equities analysts forecast that monday.com Ltd. will post -0.16 earnings per share 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.