Sumitomo Mitsui DS Asset Management Company Ltd Acquires 541 Shares of monday.com Ltd. (NASDAQ:MNDY)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in monday.com Ltd. (NASDAQ:MNDY) by 16.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,798 shares of the company’s stock after purchasing an additional 541 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in monday.com were worth $894,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. R Squared Ltd bought a new stake in monday.com in the 4th quarter worth about $33,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of monday.com in the third quarter worth $43,000. Spire Wealth Management purchased a new stake in monday.com during the fourth quarter valued at $125,000. Vestcor Inc lifted its holdings in monday.com by 31.4% in the third quarter. Vestcor Inc now owns 519 shares of the company’s stock valued at $144,000 after acquiring an additional 124 shares during the period. Finally, Larson Financial Group LLC boosted its position in monday.com by 645.7% in the third quarter. Larson Financial Group LLC now owns 604 shares of the company’s stock worth $168,000 after purchasing an additional 523 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MNDY. KeyCorp upgraded shares of monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 price objective on the stock in a research note on Tuesday. William Blair reiterated an “outperform” rating on shares of monday.com in a research report on Wednesday, December 18th. Canaccord Genuity Group boosted their price objective on shares of monday.com from $310.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday. Loop Capital reduced their price objective on monday.com from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Monday, December 23rd. Finally, Cantor Fitzgerald lifted their target price on monday.com from $292.00 to $380.00 and gave the company an “overweight” rating in a research report on Tuesday. Four analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $353.32.

monday.com Stock Up 0.4 %

MNDY opened at $327.92 on Wednesday. The company has a market capitalization of $15.83 billion, a PE ratio of 799.80, a price-to-earnings-growth ratio of 7.67 and a beta of 1.31. The firm has a 50-day simple moving average of $251.31 and a two-hundred day simple moving average of $262.68. monday.com Ltd. has a 52 week low of $174.75 and a 52 week high of $342.64.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, February 10th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.78 by ($0.28). monday.com had a net margin of 2.39% and a return on equity of 4.99%. As a group, sell-side analysts expect that monday.com Ltd. will post 0.85 earnings per share for the current 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.