Polar Asset Management Partners Inc. Acquires New Shares in monday.com Ltd. (NASDAQ:MNDY)

Polar Asset Management Partners Inc. acquired a new position in monday.com Ltd. (NASDAQ:MNDY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 40,900 shares of the company’s stock, valued at approximately $9,629,000.

A number of other hedge funds have also bought and sold shares of MNDY. Stonebridge Financial Group LLC purchased a new stake in shares of monday.com during the 4th quarter valued at about $25,000. Arcadia Investment Management Corp MI purchased a new stake in monday.com in the fourth quarter worth approximately $28,000. R Squared Ltd purchased a new stake in monday.com in the fourth quarter worth approximately $33,000. Signaturefd LLC grew its position in monday.com by 157.1% in the 4th quarter. Signaturefd LLC now owns 144 shares of the company’s stock worth $34,000 after purchasing an additional 88 shares during the period. Finally, Global Retirement Partners LLC raised its stake in 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 buying an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Trading Down 0.4%

NASDAQ:MNDY opened at $288.60 on Friday. The stock has a 50-day moving average price of $263.24 and a 200 day moving average price of $264.87. The stock has a market capitalization of $14.65 billion, a P/E ratio of 481.00, a P/E/G ratio of 16.53 and a beta of 1.32. monday.com Ltd. has a 12-month low of $188.01 and a 12-month high of $342.64.

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

Wall Street Analysts Forecast Growth

Several analysts recently commented on MNDY shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $400.00 price objective on shares of monday.com in a report on Tuesday, May 13th. Wall Street Zen raised monday.com from a “hold” rating to a “buy” rating in a research report on Thursday. The Goldman Sachs Group upped their price target on shares of monday.com from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, February 11th. UBS Group lowered their price objective on shares of monday.com from $350.00 to $310.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 29th. Finally, Canaccord Genuity Group dropped their price objective on shares of monday.com from $375.00 to $350.00 and set a “buy” rating on the stock in a report on Tuesday, May 13th. Three analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, monday.com presently has a consensus rating of “Moderate Buy” and an average price target of $346.50.

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.