Entropy Technologies LP Raises Stock Position in monday.com Ltd. (NASDAQ:MNDY)

Entropy Technologies LP raised its holdings in shares of monday.com Ltd. (NASDAQ:MNDY) by 521.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 7,800 shares of the company’s stock after buying an additional 6,544 shares during the period. Entropy Technologies LP’s holdings in monday.com were worth $1,836,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. China Universal Asset Management Co. Ltd. bought a new stake in monday.com in the 3rd quarter valued at $1,667,000. International Assets Investment Management LLC purchased a new position in shares of monday.com during the third quarter valued at about $21,989,000. Taylor Frigon Capital Management LLC bought a new stake in shares of monday.com in the third quarter worth about $1,311,000. Jennison Associates LLC lifted its position in shares of monday.com by 77.5% in the third quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock worth $202,905,000 after buying an additional 318,837 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in monday.com by 6.4% during the third quarter. Robeco Institutional Asset Management B.V. now owns 36,572 shares of the company’s stock valued at $10,159,000 after buying an additional 2,196 shares during the last quarter. Institutional investors own 73.70% of the company’s stock.

monday.com Stock Performance

Shares of NASDAQ:MNDY opened at $258.24 on Monday. The firm’s 50 day simple moving average is $249.33 and its 200-day simple moving average is $261.41. monday.com Ltd. has a one year low of $174.75 and a one year high of $324.99. The firm has a market cap of $12.47 billion, a PE ratio of 629.85, a price-to-earnings-growth ratio of 7.67 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last released its quarterly earnings data on Monday, November 11th. The company reported $0.85 EPS for the quarter, topping the consensus estimate of $0.61 by $0.24. monday.com had a return on equity of 4.99% and a net margin of 2.39%. The company had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. During the same period last year, the business posted $0.15 EPS. monday.com’s quarterly revenue was up 49.5% on a year-over-year basis. Equities research analysts predict that monday.com Ltd. will post 0.85 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Scotiabank decreased their price objective on monday.com from $325.00 to $300.00 and set a “sector outperform” rating on the stock in a report on Thursday, January 16th. Wells Fargo & Company upped their price target on shares of monday.com from $330.00 to $340.00 and gave the company an “overweight” rating in a research note on Tuesday, January 21st. Citigroup raised shares of monday.com from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $302.00 to $298.00 in a research note on Thursday, January 16th. Piper Sandler decreased their target price on shares of monday.com from $350.00 to $345.00 and set an “overweight” rating on the stock in a research report on Monday, January 6th. Finally, Oppenheimer lifted their price target on monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Five investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $310.68.

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.