International Assets Investment Management LLC Takes Position in monday.com Ltd. (NASDAQ:MNDY)

International Assets Investment Management LLC purchased a new position in monday.com Ltd. (NASDAQ:MNDY - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 138,040 shares of the company's stock, valued at approximately $25,925,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MNDY. Raymond James & Associates lifted its position in monday.com by 55.2% during the fourth quarter. Raymond James & Associates now owns 12,525 shares of the company's stock valued at $2,352,000 after buying an additional 4,457 shares during the period. Jackson Square Capital LLC purchased a new position in monday.com during the fourth quarter valued at $1,647,000. Eventide Asset Management LLC purchased a new position in monday.com during the third quarter valued at $32,420,000. Natixis Advisors L.P. purchased a new position in monday.com during the third quarter valued at $1,678,000. Finally, Seven Eight Capital LP purchased a new position in monday.com during the third quarter valued at $1,018,000. Hedge funds and other institutional investors own 73.70% of the company's stock.

monday.com Stock Down 0.8 %

NASDAQ:MNDY traded down $1.45 on Friday, hitting $185.48. The stock had a trading volume of 486,254 shares, compared to its average volume of 768,912. The stock has a market cap of $8.95 billion, a price-to-earnings ratio of -2,649.34 and a beta of 1.24. The business's 50-day simple moving average is $209.77 and its two-hundred day simple moving average is $191.16. monday.com Ltd. has a 52-week low of $109.58 and a 52-week high of $239.22.

monday.com (NASDAQ:MNDY - Get Free Report) last posted its quarterly earnings data 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. monday.com had a negative return on equity of 0.43% and a negative net margin of 0.26%. The firm had revenue of $202.60 million for the quarter, compared to analysts' expectations of $197.97 million. During the same period in the previous year, the firm earned ($0.03) EPS. The business's quarterly revenue was up 35.5% on a year-over-year basis. As a group, equities research analysts anticipate that monday.com Ltd. will post -0.16 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Canaccord Genuity Group lowered their price objective on monday.com from $250.00 to $220.00 and set a "buy" rating for the company in a research report on Monday, April 22nd. Jefferies Financial Group upgraded monday.com from a "hold" rating to a "buy" rating and raised their price target for the company from $180.00 to $230.00 in a report on Friday, January 5th. Bank of America began coverage on monday.com in a report on Monday, February 26th. They set a "buy" rating and a $280.00 price target for the company. Piper Sandler restated an "overweight" rating and set a $250.00 price target on shares of monday.com in a report on Tuesday, February 13th. Finally, DA Davidson restated a "neutral" rating and set a $190.00 price target on shares of monday.com in a report on Tuesday, February 13th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $240.00.

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.