KLP Kapitalforvaltning AS Buys Shares of 11,350 monday.com Ltd. (NASDAQ:MNDY)

KLP Kapitalforvaltning AS purchased a new position in monday.com Ltd. (NASDAQ:MNDY) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 11,350 shares of the company’s stock, valued at approximately $2,672,000.

Other hedge funds have also recently made changes to their positions in the company. Global Retirement Partners LLC grew its holdings in monday.com by 64.8% in the fourth quarter. Global Retirement Partners LLC now owns 150 shares of the company’s stock worth $35,000 after purchasing an additional 59 shares during the last quarter. Venturi Wealth Management LLC boosted its position in shares of monday.com by 7.6% in the 4th quarter. Venturi Wealth Management LLC now owns 1,076 shares of the company’s stock worth $253,000 after purchasing an additional 76 shares in the last quarter. Vestcor Inc grew its stake in monday.com by 16.0% during the 4th quarter. Vestcor Inc now owns 602 shares of the company’s stock worth $142,000 after buying an additional 83 shares during the last quarter. Signaturefd LLC increased its position in monday.com by 157.1% during the 4th quarter. Signaturefd LLC now owns 144 shares of the company’s stock valued at $34,000 after buying an additional 88 shares in the last quarter. Finally, Envestnet Portfolio Solutions Inc. increased its position in monday.com by 2.3% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 4,000 shares of the company’s stock valued at $942,000 after buying an additional 89 shares in the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Tigress Financial boosted their price target on monday.com from $340.00 to $450.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Scotiabank dropped their target price on shares of monday.com from $400.00 to $315.00 and set a “sector outperform” rating on the stock in a research report on Monday, March 17th. Jefferies Financial Group raised their price target on shares of monday.com from $300.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. The Goldman Sachs Group boosted their price objective on shares of monday.com from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, February 11th. Finally, Canaccord Genuity Group raised their target price on monday.com from $310.00 to $375.00 and gave the stock a “buy” rating in a research note on Tuesday, February 11th. Three research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $354.45.

monday.com Stock Down 4.6 %

MNDY stock opened at $264.47 on Thursday. monday.com Ltd. has a 52-week low of $174.75 and a 52-week high of $342.64. The firm has a market cap of $13.43 billion, a P/E ratio of 440.78, a PEG ratio of 16.53 and a beta of 1.27. The company’s 50-day simple moving average is $272.59 and its 200-day simple moving average is $270.19.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings results on Monday, February 10th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.28). monday.com had a return on equity of 6.22% and a net margin of 3.33%. On average, analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

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.