iA Global Asset Management Inc. Grows Stock Holdings in monday.com Ltd. (NASDAQ:MNDY)

iA Global Asset Management Inc. raised its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 803.3% in the 1st quarter, Holdings Channel reports. The fund owned 10,451 shares of the company’s stock after acquiring an additional 9,294 shares during the quarter. iA Global Asset Management Inc.’s holdings in monday.com were worth $2,361,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in MNDY. Desjardins Global Asset Management Inc. raised its stake in shares of monday.com by 222.0% during the fourth quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the company’s stock worth $25,000 after purchasing an additional 91 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of monday.com by 2.1% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 34,044 shares of the company’s stock worth $65,000 after acquiring an additional 691 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of monday.com by 373.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 393 shares of the company’s stock valued at $74,000 after acquiring an additional 310 shares in the last quarter. Industrial Alliance Investment Management Inc. increased its stake in shares of monday.com by 741.7% during the first quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock worth $91,000 after acquiring an additional 356 shares during the period. Finally, RiverPark Advisors LLC purchased a new position in monday.com during the first quarter worth about $130,000. 73.70% of the stock is owned by institutional investors and hedge funds.

monday.com Price Performance

MNDY traded down $14.12 during trading on Friday, hitting $202.96. The company’s stock had a trading volume of 402,925 shares, compared to its average volume of 784,814. monday.com Ltd. has a twelve month low of $122.13 and a twelve month high of $251.48. The firm’s 50 day moving average price is $231.09 and its 200-day moving average price is $217.58. The stock has a market cap of $9.80 billion, a PE ratio of 571.28, a PEG ratio of 45.96 and a beta of 1.30.

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MNDY. Piper Sandler reiterated an “overweight” rating and set a $270.00 target price on shares of monday.com in a research report on Friday, July 12th. Robert W. Baird began coverage on monday.com in a research report on Tuesday, July 23rd. They issued a “neutral” rating and a $250.00 price objective for the company. Barclays initiated coverage on shares of monday.com in a research note on Wednesday, June 26th. They set an “overweight” rating and a $275.00 price target on the stock. Oppenheimer raised their price objective on shares of monday.com from $240.00 to $250.00 and gave the company an “outperform” rating in a research note on Thursday, May 16th. Finally, Wolfe Research initiated coverage on shares of monday.com in a research report on Tuesday, July 9th. They set an “outperform” rating and a $300.00 target price on the stock. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $255.53.

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.