SG Americas Securities LLC Acquires 434,035 Shares of monday.com Ltd. (NASDAQ:MNDY)

SG Americas Securities LLC increased its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 1,024.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 476,392 shares of the company’s stock after purchasing an additional 434,035 shares during the period. monday.com comprises about 0.5% of SG Americas Securities LLC’s investment portfolio, making the stock its 25th largest position. SG Americas Securities LLC owned about 0.99% of monday.com worth $112,162,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in monday.com in the third quarter valued at about $43,000. Toronto Dominion Bank acquired a new position in shares of monday.com during the second quarter worth about $120,000. Vestcor Inc boosted its position in shares of monday.com by 31.4% during the third quarter. Vestcor Inc now owns 519 shares of the company’s stock worth $144,000 after buying an additional 124 shares during the period. Larson Financial Group LLC boosted its position in shares of monday.com by 645.7% during the third quarter. Larson Financial Group LLC now owns 604 shares of the company’s stock worth $168,000 after buying an additional 523 shares during the period. Finally, Northwest & Ethical Investments L.P. boosted its position in shares of monday.com by 18.2% during the third quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company’s stock worth $181,000 after buying an additional 100 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MNDY. Cantor Fitzgerald began coverage on monday.com in a research report on Friday, January 17th. They set an “overweight” rating and a $292.00 price target for the company. Robert W. Baird increased their price target on monday.com from $270.00 to $275.00 and gave the company a “neutral” rating in a research report on Tuesday. Oppenheimer increased their price target on monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Wells Fargo & Company increased their price target on monday.com from $330.00 to $340.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Citigroup raised monday.com from a “neutral” rating to a “buy” rating and reduced their price target for the company from $302.00 to $298.00 in a research report on Thursday, January 16th. Five research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, monday.com presently has a consensus rating of “Moderate Buy” and a consensus price target of $310.68.

monday.com Stock Performance

MNDY stock opened at $253.75 on Thursday. The stock’s 50 day simple moving average is $254.79 and its 200 day simple moving average is $259.58. monday.com Ltd. has a fifty-two week low of $174.75 and a fifty-two week high of $324.99. The company has a market cap of $12.25 billion, a P/E ratio of 618.90, a price-to-earnings-growth ratio of 6.13 and a beta of 1.30.

monday.com (NASDAQ:MNDY) last issued its quarterly earnings data on Monday, November 11th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.61 by $0.24. The firm had revenue of $251.00 million during the quarter, compared to the consensus estimate of $246.17 million. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The company’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.15 earnings per share. Equities analysts predict that monday.com Ltd. will post 0.85 earnings per share for the current year.

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.