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

Jennison Associates LLC boosted its position in 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 institutional investor owned 730,478 shares of the company’s stock after purchasing an additional 318,837 shares during the quarter. Jennison Associates LLC owned about 1.51% of monday.com worth $202,905,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Quent Capital LLC bought a new position in monday.com in the 1st quarter worth about $565,000. Russell Investments Group Ltd. increased its position 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 purchasing an additional 15,643 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new stake in monday.com in the first quarter valued at approximately $1,379,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in monday.com by 4.4% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 14,422 shares of the company’s stock valued at $3,257,000 after purchasing an additional 603 shares during the last quarter. Finally, Vanguard Group Inc. grew its stake in monday.com by 12.9% in the 1st quarter. Vanguard Group Inc. now owns 45,682 shares of the company’s stock worth $10,318,000 after buying an additional 5,229 shares in the last quarter. 73.70% of the stock is owned by institutional investors.

monday.com Price Performance

Shares of NASDAQ:MNDY opened at $257.02 on Wednesday. monday.com Ltd. has a 1-year low of $168.28 and a 1-year high of $324.99. The business has a fifty day moving average price of $281.02 and a 200-day moving average price of $249.95. The company has a market capitalization of $12.41 billion, a PE ratio of 626.88, a PEG ratio of 12.26 and a beta of 1.31.

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

Wall Street Analysts Forecast Growth

MNDY has been the topic of several research reports. Bank of America raised their price objective on shares of monday.com from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. DA Davidson reissued a “neutral” rating and issued a $300.00 price target on shares of monday.com in a research note on Tuesday, November 12th. Needham & Company LLC lifted their price objective on monday.com from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Scotiabank began coverage on monday.com in a report on Tuesday. They set a “sector outperform” rating and a $325.00 target price for the company. Finally, Robert W. Baird boosted their price objective on monday.com from $265.00 to $270.00 and gave the company a “neutral” rating in a research report on Tuesday, November 12th. Five research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $310.81.

monday.com 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.