CloudAlpha Capital Management Limited Hong Kong Takes Position in monday.com Ltd. (NASDAQ:MNDY)

CloudAlpha Capital Management Limited Hong Kong bought a new stake in monday.com Ltd. (NASDAQ:MNDY) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 10,226 shares of the company’s stock, valued at approximately $2,840,000. monday.com comprises approximately 0.2% of CloudAlpha Capital Management Limited Hong Kong’s holdings, making the stock its 27th largest holding.

Other institutional investors and hedge funds have also made changes to their positions in the company. Clearbridge Investments LLC raised its holdings in monday.com by 2,851.5% during the first quarter. Clearbridge Investments LLC now owns 344,525 shares of the company’s stock worth $77,818,000 after purchasing an additional 332,852 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in monday.com by 431.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock worth $107,176,000 after purchasing an additional 313,279 shares in the last quarter. Renaissance Technologies LLC raised its holdings in monday.com by 20.2% during the second quarter. Renaissance Technologies LLC now owns 1,122,690 shares of the company’s stock worth $270,299,000 after purchasing an additional 188,800 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in monday.com by 171.3% during the second quarter. Bank of New York Mellon Corp now owns 273,877 shares of the company’s stock worth $65,938,000 after purchasing an additional 172,919 shares in the last quarter. Finally, 1832 Asset Management L.P. raised its holdings in monday.com by 34.4% during the second quarter. 1832 Asset Management L.P. now owns 667,500 shares of the company’s stock worth $160,707,000 after purchasing an additional 170,800 shares in the last quarter. 73.70% of the stock is owned by hedge funds and other institutional investors.

monday.com Stock Up 3.3 %

Shares of MNDY opened at $269.16 on Thursday. The firm has a market cap of $13.00 billion, a PE ratio of 656.49, a price-to-earnings-growth ratio of 12.15 and a beta of 1.31. The company’s fifty day moving average is $279.69 and its two-hundred day moving average is $247.51. monday.com Ltd. has a fifty-two week low of $159.22 and a fifty-two week high of $324.99.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results 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 company had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 5.15%. monday.com’s revenue for the quarter was up 49.5% on a year-over-year basis. During the same quarter last year, the business earned $0.15 EPS. As a group, equities research analysts anticipate that monday.com Ltd. will post 0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MNDY shares. Robert W. Baird increased their price target on shares of monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a report on Tuesday. Loop Capital increased their target price on shares of monday.com from $285.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Canaccord Genuity Group increased their target price on shares of monday.com from $295.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday. Oppenheimer increased their target price on shares of monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. increased their target price on shares of monday.com from $270.00 to $300.00 and gave the company an “overweight” rating in a report on Tuesday, August 13th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $310.10.

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.