Rakuten Securities Inc. Invests $3.06 Million in monday.com Ltd. (NASDAQ:MNDY)

Rakuten Securities Inc. purchased a new position in shares of monday.com Ltd. (NASDAQ:MNDY) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,266 shares of the company’s stock, valued at approximately $3,055,000. monday.com comprises approximately 2.4% of Rakuten Securities Inc.’s holdings, making the stock its 8th biggest holding.

A number of other large investors also recently modified their holdings of MNDY. Desjardins Global Asset Management Inc. raised its stake in shares of monday.com by 222.0% in the fourth quarter. Desjardins Global Asset Management Inc. now owns 132 shares of the company’s stock valued at $25,000 after purchasing an additional 91 shares in the last quarter. Crewe Advisors LLC raised its stake in shares of monday.com by 44.9% in the third quarter. Crewe Advisors LLC now owns 229 shares of the company’s stock valued at $36,000 after purchasing an additional 71 shares in the last quarter. Quarry LP raised its stake in shares of monday.com by 192.0% in the first quarter. Quarry LP now owns 254 shares of the company’s stock valued at $36,000 after purchasing an additional 167 shares in the last quarter. Arlington Partners LLC raised its stake in shares of monday.com by 104.1% in the third quarter. Arlington Partners LLC now owns 247 shares of the company’s stock valued at $39,000 after purchasing an additional 126 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in shares of monday.com by 26.8% in the fourth quarter. Advisors Asset Management Inc. now owns 383 shares of the company’s stock valued at $47,000 after purchasing an additional 81 shares in the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on MNDY shares. JPMorgan Chase & Co. increased their price objective on monday.com from $230.00 to $270.00 and gave the stock an “overweight” rating in a research note on Monday, March 25th. Citigroup lowered monday.com from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $277.00 to $250.00 in a research note on Wednesday, April 10th. Bank of America started coverage on monday.com in a research note on Monday, February 26th. They set a “buy” rating and a $280.00 price objective for the company. Oppenheimer increased their price objective on monday.com from $220.00 to $240.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. Finally, DA Davidson reiterated a “neutral” rating and set a $190.00 price objective on shares of monday.com in a research note on Tuesday, February 13th. Three investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $238.33.

monday.com Trading Down 1.6 %

monday.com stock traded down $3.02 during mid-day trading on Wednesday, hitting $184.90. The stock had a trading volume of 132,441 shares, compared to its average volume of 806,982. The stock has a 50-day simple moving average of $218.16 and a two-hundred day simple moving average of $188.48. The stock has a market capitalization of $8.93 billion, a PE ratio of -2,645.19 and a beta of 1.18. monday.com Ltd. has a 12 month low of $108.35 and a 12 month high of $239.22.

monday.com (NASDAQ:MNDY) last posted its quarterly earnings results on Monday, February 12th. The company reported $0.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.33. The business had revenue of $202.60 million for the quarter, compared to analysts’ expectations of $197.97 million. monday.com had a negative return on equity of 0.43% and a negative net margin of 0.26%. The firm’s quarterly revenue was up 35.5% compared to the same quarter last year. During the same quarter last year, the business earned ($0.03) earnings per share. Sell-side analysts expect that monday.com Ltd. will post -0.16 earnings per share for the current fiscal year.

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.