Renaissance Technologies LLC Buys 1,052,900 Shares of monday.com Ltd. $MNDY

Renaissance Technologies LLC increased its stake in shares of monday.com Ltd. (NASDAQ:MNDY) by 93.3% during the first quarter, HoldingsChannel reports. The institutional investor owned 2,181,990 shares of the company’s stock after buying an additional 1,052,900 shares during the quarter. Renaissance Technologies LLC’s holdings in monday.com were worth $150,797,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its position in monday.com by 2,120.0% during the first quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock worth $27,000 after purchasing an additional 106 shares during the period. American Century Companies Inc. boosted its holdings in shares of monday.com by 75.3% in the 2nd quarter. American Century Companies Inc. now owns 4,192 shares of the company’s stock valued at $1,318,000 after purchasing an additional 1,801 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of monday.com by 76.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock valued at $47,000 after purchasing an additional 65 shares during the last quarter. Cerity Partners LLC increased its stake in shares of monday.com by 28.8% in the 2nd quarter. Cerity Partners LLC now owns 2,596 shares of the company’s stock valued at $816,000 after purchasing an additional 580 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new position in shares of monday.com during the 2nd quarter worth $398,000. Institutional investors own 73.70% of the company’s stock.

monday.com Trading Up 7.9%

monday.com stock opened at $77.43 on Friday. The stock has a 50-day moving average price of $78.63 and a two-hundred day moving average price of $83.58. monday.com Ltd. has a 12 month low of $57.50 and a 12 month high of $295.00. The company has a market capitalization of $3.96 billion, a PE ratio of 33.67, a P/E/G ratio of 3.59 and a beta of 1.26.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Friday, March 13th. The company reported $1.15 earnings per share for the quarter. monday.com had a return on equity of 5.10% and a net margin of 9.17%.The company had revenue of $351.26 million for the quarter. As a group, analysts predict that monday.com Ltd. will post 1.59 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MNDY. UBS Group decreased their target price on monday.com from $93.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. Oppenheimer set a $115.00 target price on shares of monday.com in a report on Monday, May 11th. BTIG Research reduced their price target on shares of monday.com from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Tuesday, July 14th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of monday.com in a report on Thursday, June 11th. Finally, Piper Sandler upped their price objective on shares of monday.com from $85.00 to $90.00 and gave the stock a “neutral” rating in a research report on Monday, May 11th. Seventeen analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, monday.com presently has an average rating of “Moderate Buy” and an average target price of $126.04.

monday.com Company Profile

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.