Jennison Associates LLC Buys 318,837 Shares of monday.com Ltd. (NASDAQ:MNDY)

Jennison Associates LLC grew its position in shares of monday.com Ltd. (NASDAQ:MNDY) by 77.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 730,478 shares of the company’s stock after buying an additional 318,837 shares during the quarter. Jennison Associates LLC’s holdings in monday.com were worth $202,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Quent Capital LLC purchased a new position in monday.com in the first quarter worth about $565,000. Russell Investments Group Ltd. boosted its holdings in shares of monday.com by 156.0% in the first quarter. Russell Investments Group Ltd. now owns 25,673 shares of the company’s stock worth $5,799,000 after buying an additional 15,643 shares during the last quarter. Orion Portfolio Solutions LLC bought a new stake in monday.com during the first quarter valued at approximately $1,379,000. Mitsubishi UFJ Trust & Banking Corp raised its position in monday.com by 4.4% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 14,422 shares of the company’s stock worth $3,257,000 after acquiring an additional 603 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of monday.com by 12.9% during the 1st quarter. Vanguard Group Inc. now owns 45,682 shares of the company’s stock valued at $10,318,000 after acquiring an additional 5,229 shares during the period. Institutional investors own 73.70% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on MNDY shares. Capital One Financial assumed coverage on monday.com in a research report on Thursday, October 10th. They issued an “overweight” rating and a $325.00 price target for the company. Wells Fargo & Company lifted their target price on monday.com from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Loop Capital upped their price target on monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. DA Davidson reiterated a “neutral” rating and set a $300.00 price objective on shares of monday.com in a research report on Tuesday, November 12th. Finally, Scotiabank began coverage on shares of monday.com in a research report on Tuesday. They set a “sector outperform” rating and a $325.00 target price for the company. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $310.81.

monday.com Stock Up 0.6 %

NASDAQ:MNDY opened at $257.02 on Wednesday. monday.com Ltd. has a 52 week low of $168.28 and a 52 week high of $324.99. The stock’s fifty day moving average is $281.02 and its two-hundred day moving average is $249.95. The stock has a market capitalization of $12.41 billion, a price-to-earnings ratio of 626.88, a price-to-earnings-growth ratio of 12.26 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings data on Monday, November 11th. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24. The firm had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The business’s quarterly revenue was up 49.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.15 earnings per share. On average, sell-side analysts expect that monday.com Ltd. will post 0.5 EPS for the current fiscal year.

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.