Oak Ridge Investments LLC Purchases New Position in monday.com Ltd. (NASDAQ:MNDY)

Oak Ridge Investments LLC acquired a new stake in shares of monday.com Ltd. (NASDAQ:MNDY) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 2,687 shares of the company’s stock, valued at approximately $633,000.

Several other large investors have also recently bought and sold shares of MNDY. FMR LLC grew its holdings in shares of monday.com by 112.0% in the 3rd quarter. FMR LLC now owns 1,512,094 shares of the company’s stock valued at $420,014,000 after buying an additional 798,791 shares during the period. Jennison Associates LLC grew its stake in monday.com by 77.5% in the third quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock valued at $202,905,000 after acquiring an additional 318,837 shares during the period. 1832 Asset Management L.P. increased its holdings in shares of monday.com by 34.4% in the second quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock worth $160,707,000 after acquiring an additional 170,800 shares in the last quarter. Westfield Capital Management Co. LP raised its position in shares of monday.com by 2.4% during the third quarter. Westfield Capital Management Co. LP now owns 600,379 shares of the company’s stock worth $166,767,000 after purchasing an additional 14,304 shares during the period. Finally, State Street Corp lifted its holdings in shares of monday.com by 3.8% during the 3rd quarter. State Street Corp now owns 587,879 shares of the company’s stock valued at $163,295,000 after purchasing an additional 21,585 shares in the last quarter. Institutional investors own 73.70% of the company’s stock.

monday.com Stock Up 0.6 %

Shares of NASDAQ MNDY opened at $242.05 on Monday. monday.com Ltd. has a twelve month low of $174.75 and a twelve month high of $324.99. The company has a market cap of $11.69 billion, a PE ratio of 590.37, a price-to-earnings-growth ratio of 5.41 and a beta of 1.30. The business’s 50 day moving average price is $256.02 and its two-hundred day moving average price is $259.64.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The business had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. During the same period in the previous year, the firm earned $0.15 EPS. The firm’s revenue was up 49.5% compared to the same quarter last year. As a group, research analysts anticipate that monday.com Ltd. will post 0.85 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on MNDY shares. Capital One Financial assumed coverage on monday.com in a research note on Thursday, October 10th. They set an “overweight” rating and a $325.00 target price for the company. Cantor Fitzgerald initiated coverage on shares of monday.com in a research report on Friday. They set an “overweight” rating and a $292.00 price objective for the company. Loop Capital cut their price objective on shares of monday.com from $310.00 to $300.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. KeyCorp cut monday.com from an “overweight” rating to a “sector weight” rating in a report on Friday, December 13th. Finally, Citigroup upgraded monday.com from a “neutral” rating to a “buy” rating and cut their price target for the company from $302.00 to $298.00 in a report on Thursday. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, monday.com currently has an average rating of “Moderate Buy” and a consensus target price of $310.48.

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.