Fmr LLC Acquires 1,189,858 Shares of monday.com Ltd. (NASDAQ:MNDY)

Fmr LLC raised its stake in monday.com Ltd. (NASDAQ:MNDY) by 78.7% in the fourth quarter, Holdings Channel reports. The fund owned 2,701,952 shares of the company’s stock after purchasing an additional 1,189,858 shares during the quarter. Fmr LLC owned 0.06% of monday.com worth $636,147,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Stonebridge Financial Group LLC bought a new stake in monday.com during the 4th quarter worth $25,000. Arcadia Investment Management Corp MI acquired a new stake in shares of monday.com during the fourth quarter valued at about $28,000. R Squared Ltd bought a new stake in shares of monday.com during the fourth quarter worth about $33,000. Signaturefd LLC increased its stake in shares of monday.com by 157.1% in the fourth quarter. Signaturefd LLC now owns 144 shares of the company’s stock valued at $34,000 after buying an additional 88 shares during the period. Finally, Global Retirement Partners LLC raised its holdings in monday.com by 64.8% in the 4th quarter. Global Retirement Partners LLC now owns 150 shares of the company’s stock valued at $35,000 after buying an additional 59 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

monday.com Stock Down 1.2 %

Shares of NASDAQ MNDY opened at $218.32 on Wednesday. The company has a market capitalization of $11.08 billion, a PE ratio of 363.87, a PEG ratio of 16.53 and a beta of 1.34. The stock’s 50 day moving average price is $270.59 and its 200-day moving average price is $268.74. monday.com Ltd. has a twelve month low of $174.75 and a twelve month high of $342.64.

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

Wall Street Analyst Weigh In

MNDY has been the topic of several analyst reports. Cantor Fitzgerald boosted their price objective on shares of monday.com from $292.00 to $380.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 11th. Wells Fargo & Company raised their price objective on shares of monday.com from $340.00 to $380.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 11th. William Blair restated an “outperform” rating on shares of monday.com in a research note on Wednesday, December 18th. Canaccord Genuity Group boosted their target price on monday.com from $310.00 to $375.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. Finally, KeyCorp upgraded monday.com from a “sector weight” rating to an “overweight” rating and set a $420.00 price target on the stock in a report on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $352.64.

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.