Square Peg Capital PTY Ltd. Purchases Shares of 101,522 monday.com Ltd. (NASDAQ:MNDY)

Square Peg Capital PTY Ltd. bought a new position in monday.com Ltd. (NASDAQ:MNDY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 101,522 shares of the company’s stock, valued at approximately $23,902,000. monday.com makes up approximately 21.9% of Square Peg Capital PTY Ltd.’s investment portfolio, making the stock its biggest position. Square Peg Capital PTY Ltd. owned about 0.21% of monday.com at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. FMR LLC boosted its stake in monday.com by 78.7% during the 4th quarter. FMR LLC now owns 2,701,952 shares of the company’s stock valued at $636,147,000 after purchasing an additional 1,189,858 shares during the last quarter. Norges Bank purchased a new stake in monday.com in the fourth quarter valued at approximately $116,686,000. T. Rowe Price Investment Management Inc. purchased a new stake in monday.com in the fourth quarter valued at approximately $109,605,000. SG Americas Securities LLC lifted its stake in monday.com by 1,024.7% during the fourth quarter. SG Americas Securities LLC now owns 476,392 shares of the company’s stock worth $112,162,000 after purchasing an additional 434,035 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in shares of monday.com by 264.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 555,929 shares of the company’s stock valued at $126,407,000 after purchasing an additional 403,255 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors.

monday.com Price Performance

Shares of 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 company has a 50 day simple moving average of $258.41 and a two-hundred day simple moving average of $265.46. The firm has a market cap of $14.87 billion, a P/E ratio of 488.28, a price-to-earnings-growth ratio of 16.53 and a beta of 1.32.

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, sell-side analysts anticipate that monday.com Ltd. will post 0.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wells Fargo & Company boosted their target price on monday.com from $310.00 to $335.00 and gave the company an “overweight” rating in a research note on Tuesday. Barclays decreased their price objective on monday.com from $360.00 to $345.00 and set an “overweight” rating for the company in a report on Tuesday. JPMorgan Chase & Co. dropped their price target on shares of monday.com from $400.00 to $350.00 and set an “overweight” rating on the stock in a research note on Tuesday, May 6th. Canaccord Genuity Group reduced their price target on shares of monday.com from $375.00 to $350.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Cantor Fitzgerald upped their price objective on monday.com from $292.00 to $380.00 and gave the company an “overweight” rating in a research report on Tuesday, February 11th. 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, the stock currently has an average rating of “Moderate Buy” and a consensus 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.