70,426 Shares in monday.com Ltd. $MNDY Bought by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in monday.com Ltd. (NASDAQ:MNDY) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 70,426 shares of the company’s stock, valued at approximately $5,098,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. California State Teachers Retirement System raised its holdings in shares of monday.com by 10,466.8% during the second quarter. California State Teachers Retirement System now owns 3,293,238 shares of the company’s stock valued at $238,397,000 after purchasing an additional 3,262,072 shares during the period. Capital World Investors grew its stake in shares of monday.com by 91.4% in the 4th quarter. Capital World Investors now owns 3,286,461 shares of the company’s stock valued at $484,950,000 after buying an additional 1,569,198 shares during the period. Renaissance Technologies LLC grew its stake in shares of monday.com by 93.3% in the 1st quarter. Renaissance Technologies LLC now owns 2,181,990 shares of the company’s stock valued at $150,797,000 after buying an additional 1,052,900 shares during the period. Norges Bank bought a new stake in monday.com in the 4th quarter valued at about $79,789,000. Finally, Marshall Wace LLP increased its position in monday.com by 294.0% in the 3rd quarter. Marshall Wace LLP now owns 405,995 shares of the company’s stock valued at $78,637,000 after buying an additional 302,961 shares in the last quarter. 73.70% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on MNDY shares. UBS Group increased their price target on monday.com from $85.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, August 11th. BTIG Research restated a “buy” rating and set a $105.00 price objective on shares of monday.com in a report on Monday, August 10th. Zacks Research raised monday.com from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, August 12th. Jefferies Financial Group reiterated a “hold” rating and issued a $95.00 target price on shares of monday.com in a report on Monday, August 10th. Finally, Wall Street Zen cut monday.com from a “buy” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, fourteen have assigned a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $117.91.

monday.com Price Performance

MNDY opened at $83.67 on Wednesday. monday.com Ltd. has a fifty-two week low of $57.50 and a fifty-two week high of $220.80. The firm has a market capitalization of $4.28 billion, a PE ratio of 35.60, a P/E/G ratio of 2.13 and a beta of 1.15. The company’s 50-day moving average is $86.85 and its 200 day moving average is $78.16.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, August 10th. The company reported $1.48 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.37. The business had revenue of $364.62 million during the quarter, compared to the consensus estimate of $355.55 million. monday.com had a return on equity of 9.09% and a net margin of 8.87%.The company’s quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 EPS. As a group, analysts expect that monday.com Ltd. will post 2.25 EPS for the current year.

About monday.com

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.