Independent Advisor Alliance Invests $201,000 in monday.com Ltd. (NASDAQ:MNDY)

Independent Advisor Alliance bought a new position in shares of monday.com Ltd. (NASDAQ:MNDY) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 723 shares of the company’s stock, valued at approximately $201,000.

Several other large investors have also recently made changes to their positions in the company. Renaissance Technologies LLC increased its position in shares of monday.com by 20.2% during the second quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock worth $270,299,000 after purchasing an additional 188,800 shares in the last quarter. Jennison Associates LLC increased its position in shares of monday.com by 77.5% during the third quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock worth $202,905,000 after purchasing an additional 318,837 shares in the last quarter. 1832 Asset Management L.P. grew its holdings in monday.com by 34.4% in the 2nd quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock valued at $160,707,000 after buying an additional 170,800 shares in the last quarter. Westfield Capital Management Co. LP grew its holdings in monday.com by 2.4% in the 3rd quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company’s stock valued at $166,767,000 after buying an additional 14,304 shares in the last quarter. Finally, Eminence Capital LP grew its holdings in monday.com by 1.4% in the 2nd quarter. Eminence Capital LP now owns 470,717 shares of the company’s stock valued at $113,330,000 after buying an additional 6,349 shares in the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

monday.com Price Performance

MNDY stock opened at $285.36 on Friday. The firm has a market capitalization of $13.78 billion, a P/E ratio of 696.00, a P/E/G ratio of 8.00 and a beta of 1.31. The business’s 50-day moving average is $284.25 and its two-hundred day moving average is $253.77. monday.com Ltd. has a 1 year low of $170.00 and a 1 year high of $324.99.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. The company had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. monday.com had a return on equity of 4.99% and a net margin of 2.39%. monday.com’s revenue for the quarter was up 49.5% compared to the same quarter last year. During the same quarter last year, the company earned $0.15 EPS. On average, analysts expect that monday.com Ltd. will post 0.85 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MNDY. Bank of America upped their target price on monday.com from $280.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Loop Capital upped their target price on monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Scotiabank began coverage on monday.com in a report on Tuesday, November 19th. They issued a “sector outperform” rating and a $325.00 target price for the company. DA Davidson restated a “neutral” rating and issued a $300.00 target price on shares of monday.com in a report on Tuesday, November 12th. Finally, Citigroup increased their price target on monday.com from $296.00 to $327.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Five analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $310.81.

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.