State of New Jersey Common Pension Fund D Buys 1,700 Shares of monday.com Ltd. (NASDAQ:MNDY)

State of New Jersey Common Pension Fund D lifted its stake in monday.com Ltd. (NASDAQ:MNDY) by 12.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,691 shares of the company’s stock after purchasing an additional 1,700 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in monday.com were worth $4,358,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Quent Capital LLC purchased a new stake in monday.com during the 1st quarter valued at $565,000. Envestnet Portfolio Solutions Inc. purchased a new stake in monday.com during the 1st quarter valued at $1,204,000. Oppenheimer Asset Management Inc. bought a new position in shares of monday.com during the 1st quarter valued at $446,000. Swiss National Bank lifted its holdings in shares of monday.com by 4.1% during the 1st quarter. Swiss National Bank now owns 86,400 shares of the company’s stock valued at $19,515,000 after buying an additional 3,400 shares during the period. Finally, Sei Investments Co. lifted its holdings in shares of monday.com by 63.9% during the 1st quarter. Sei Investments Co. now owns 107,331 shares of the company’s stock valued at $24,243,000 after buying an additional 41,840 shares during the period. 73.70% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on MNDY shares. Piper Sandler increased their price target on monday.com from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Monday. Citigroup increased their price target on monday.com from $296.00 to $327.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. UBS Group increased their price target on monday.com from $240.00 to $280.00 and gave the company a “neutral” rating in a report on Tuesday, August 13th. Needham & Company LLC raised their target price on monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Robert W. Baird raised their target price on monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a report on Tuesday. Five equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $310.10.

monday.com Stock Down 5.3 %

Shares of monday.com stock opened at $260.59 on Wednesday. The firm has a market cap of $12.58 billion, a price-to-earnings ratio of 325.74, a PEG ratio of 15.22 and a beta of 1.31. The business has a 50-day moving average price of $279.27 and a 200-day moving average price of $247.35. monday.com Ltd. has a twelve month low of $150.10 and a twelve month high of $324.99.

monday.com (NASDAQ:MNDY) last issued 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. The firm had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. monday.com had a return on equity of 4.74% and a net margin of 4.88%. The business’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.15 earnings per share. On average, equities analysts expect that monday.com Ltd. will post 0.5 EPS for the current fiscal year.

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.