Geode Capital Management LLC Increases Position in monday.com Ltd. (NASDAQ:MNDY)

Geode Capital Management LLC lifted its holdings in monday.com Ltd. (NASDAQ:MNDY) by 4.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 330,777 shares of the company’s stock after buying an additional 12,968 shares during the quarter. Geode Capital Management LLC’s holdings in monday.com were worth $91,447,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV grew its position in monday.com by 4.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 1,124 shares of the company’s stock valued at $271,000 after acquiring an additional 47 shares during the last quarter. Crossmark Global Holdings Inc. increased its stake in monday.com by 4.0% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 1,303 shares of the company’s stock worth $314,000 after buying an additional 50 shares during the period. Avior Wealth Management LLC lifted its holdings in monday.com by 2.6% during the 3rd quarter. Avior Wealth Management LLC now owns 2,611 shares of the company’s stock valued at $725,000 after buying an additional 67 shares in the last quarter. FDx Advisors Inc. boosted its position in monday.com by 4.7% in the 2nd quarter. FDx Advisors Inc. now owns 2,000 shares of the company’s stock valued at $482,000 after buying an additional 90 shares during the period. Finally, Oppenheimer Asset Management Inc. grew its stake in monday.com by 4.6% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,065 shares of the company’s stock worth $497,000 after acquiring an additional 91 shares in the last quarter. 73.70% of the stock is owned by institutional investors.

monday.com Price Performance

Shares of MNDY opened at $224.69 on Friday. The firm has a market capitalization of $10.85 billion, a PE ratio of 548.02, a price-to-earnings-growth ratio of 7.75 and a beta of 1.25. The company’s fifty day moving average price is $283.18 and its 200-day moving average price is $258.47. monday.com Ltd. has a 1-year low of $170.00 and a 1-year high of $324.99.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The business had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. During the same period in the prior year, the company earned $0.15 earnings per share. The company’s revenue was up 49.5% on a year-over-year basis. As a group, research analysts anticipate that monday.com Ltd. will post 0.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MNDY shares. Oppenheimer boosted their price target on monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Loop Capital increased their price target on monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. KeyCorp downgraded monday.com from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Needham & Company LLC increased their target price on shares of monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Scotiabank assumed coverage on shares of monday.com in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $325.00 price target for the company. Six equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $309.62.

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.