Industrial Alliance Investment Management Inc. Buys 356 Shares of monday.com Ltd. (NASDAQ:MNDY)

Industrial Alliance Investment Management Inc. boosted its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 741.7% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 404 shares of the company’s stock after purchasing an additional 356 shares during the quarter. Industrial Alliance Investment Management Inc.’s holdings in monday.com were worth $91,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in MNDY. Desjardins Global Asset Management Inc. boosted its position in shares of monday.com by 222.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the company’s stock valued at $25,000 after acquiring an additional 91 shares during the period. Robeco Institutional Asset Management B.V. boosted its stake in monday.com by 2.1% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 34,044 shares of the company’s stock worth $65,000 after buying an additional 691 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in monday.com by 373.5% during the fourth quarter. PNC Financial Services Group Inc. now owns 393 shares of the company’s stock worth $74,000 after buying an additional 310 shares in the last quarter. RiverPark Advisors LLC bought a new position in shares of monday.com during the first quarter valued at $130,000. Finally, Harel Insurance Investments & Financial Services Ltd. lifted its holdings in shares of monday.com by 13.0% during the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 806 shares of the company’s stock valued at $151,000 after acquiring an additional 93 shares during the period. Institutional investors own 73.70% of the company’s stock.

monday.com Stock Performance

MNDY traded up $4.61 during trading hours on Wednesday, reaching $232.35. The company’s stock had a trading volume of 316,204 shares, compared to its average volume of 786,988. monday.com Ltd. has a 52 week low of $122.13 and a 52 week high of $251.48. The company’s 50-day moving average is $231.97 and its 200-day moving average is $217.50. The firm has a market cap of $11.22 billion, a PE ratio of 611.45, a price-to-earnings-growth ratio of 46.73 and a beta of 1.30.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Wednesday, May 15th. The company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of ($0.11) by $0.25. monday.com had a return on equity of 2.42% and a net margin of 2.53%. The firm had revenue of $216.91 million for the quarter, compared to analyst estimates of $210.33 million. Equities analysts anticipate that monday.com Ltd. will post 0.12 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Citigroup cut monday.com from a “buy” rating to a “neutral” rating and cut their price target for the company from $277.00 to $250.00 in a report on Wednesday, April 10th. Barclays assumed coverage on monday.com in a research report on Wednesday, June 26th. They set an “overweight” rating and a $275.00 target price for the company. DA Davidson boosted their target price on monday.com from $190.00 to $230.00 and gave the stock a “neutral” rating in a research report on Thursday, May 16th. Wells Fargo & Company boosted their price objective on monday.com from $260.00 to $275.00 and gave the company an “overweight” rating in a research report on Thursday, May 16th. Finally, Wolfe Research started coverage on monday.com in a research report on Tuesday, July 9th. They issued an “outperform” rating and a $300.00 price objective for the company. Five research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $255.53.

monday.com Company 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.