Polar Asset Management Partners Inc. Takes Position in monday.com Ltd. (NASDAQ:MNDY)

Polar Asset Management Partners Inc. bought a new stake in monday.com Ltd. (NASDAQ:MNDY) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 40,900 shares of the company’s stock, valued at approximately $9,629,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Stonebridge Financial Group LLC acquired a new position in shares of monday.com during the 4th quarter worth about $25,000. Arcadia Investment Management Corp MI bought a new position in shares of monday.com during the 4th quarter valued at about $28,000. R Squared Ltd bought a new position in shares of monday.com during the 4th quarter valued at about $33,000. Signaturefd LLC lifted its holdings in shares of 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 purchasing an additional 88 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of monday.com by 64.8% during the 4th quarter. Global Retirement Partners LLC now owns 150 shares of the company’s stock valued at $35,000 after purchasing an additional 59 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

monday.com Price Performance

Shares of NASDAQ:MNDY opened at $292.97 on Friday. monday.com Ltd. has a 1-year low of $188.01 and a 1-year high of $342.64. The business has a fifty day moving average price of $258.41 and a 200-day moving average price of $265.46. The company has a market capitalization of $14.87 billion, a PE ratio of 488.28, a PEG ratio of 16.53 and a beta of 1.32.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.70 by $0.40. The company had revenue of $282.25 million during the quarter, compared to the consensus estimate of $275.93 million. monday.com had a return on equity of 6.22% and a net margin of 3.33%. monday.com’s revenue for the quarter was up 30.2% on a year-over-year basis. During the same period last year, the company earned $0.61 EPS. On average, sell-side analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on MNDY. Loop Capital cut their price objective on monday.com from $385.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday. Cantor Fitzgerald boosted their target price on monday.com from $292.00 to $380.00 and gave the company an “overweight” rating in a research note on Tuesday, February 11th. Needham & Company LLC restated a “buy” rating and issued a $400.00 target price on shares of monday.com in a research note on Tuesday. DA Davidson cut their target price on monday.com from $350.00 to $290.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Finally, Scotiabank boosted their target price on monday.com from $315.00 to $330.00 and gave the company a “sector outperform” rating in a research note on Friday, May 2nd. Three research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $346.50.

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.