Assenagon Asset Management S.A. Boosts Stake in monday.com Ltd. (NASDAQ:MNDY)

Assenagon Asset Management S.A. increased its position in monday.com Ltd. (NASDAQ:MNDY) by 754.8% during the first quarter, Holdings Channel.com reports. The institutional investor owned 440,622 shares of the company’s stock after purchasing an additional 389,073 shares during the period. Assenagon Asset Management S.A.’s holdings in monday.com were worth $107,142,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Oppenheimer & Co. Inc. lifted its position in shares of monday.com by 24.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 6,765 shares of the company’s stock worth $1,593,000 after buying an additional 1,318 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of monday.com in the fourth quarter worth about $245,000. Bank of Montreal Can lifted its position in shares of monday.com by 62.0% in the fourth quarter. Bank of Montreal Can now owns 22,097 shares of the company’s stock worth $5,203,000 after buying an additional 8,454 shares in the last quarter. Bailard Inc. lifted its position in shares of monday.com by 147.5% in the fourth quarter. Bailard Inc. now owns 7,055 shares of the company’s stock worth $1,661,000 after buying an additional 4,204 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of monday.com by 3.4% in the fourth quarter. Bank of New York Mellon Corp now owns 255,455 shares of the company’s stock worth $60,144,000 after buying an additional 8,329 shares in the last quarter. 73.70% of the stock is currently owned by hedge funds and other institutional investors.

monday.com Stock Performance

NASDAQ MNDY opened at $308.12 on Wednesday. The stock has a 50-day simple moving average of $273.21 and a two-hundred day simple moving average of $266.99. The firm has a market capitalization of $15.64 billion, a P/E ratio of 513.53, a PEG ratio of 16.53 and a beta of 1.30. monday.com Ltd. has a fifty-two week low of $188.01 and a fifty-two week high of $342.64.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.40. monday.com had a return on equity of 6.22% and a net margin of 3.33%. The company had revenue of $282.25 million for the quarter, compared to analysts’ expectations of $275.93 million. During the same period in the prior year, the firm earned $0.61 earnings per share. The firm’s revenue was up 30.2% compared to the same quarter last year. As a group, analysts forecast that monday.com Ltd. will post 0.46 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on MNDY shares. Barclays decreased their price objective on monday.com from $360.00 to $345.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 13th. DA Davidson decreased their price objective on monday.com from $350.00 to $290.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. decreased their price objective on monday.com from $400.00 to $350.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 6th. Piper Sandler upped their price objective on monday.com from $305.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, May 12th. Finally, Tigress Financial upped their price objective on monday.com from $340.00 to $450.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Three investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $346.50.

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.