CIBC Asset Management Inc Grows Holdings in monday.com Ltd. (NASDAQ:MNDY)

CIBC Asset Management Inc boosted its holdings in shares of monday.com Ltd. (NASDAQ:MNDY) by 6.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,512 shares of the company’s stock after acquiring an additional 202 shares during the period. CIBC Asset Management Inc’s holdings in monday.com were worth $976,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of MNDY. Curi RMB Capital LLC boosted its position in shares of monday.com by 5.7% in the 3rd quarter. Curi RMB Capital LLC now owns 32,205 shares of the company’s stock worth $8,946,000 after purchasing an additional 1,725 shares in the last quarter. CloudAlpha Capital Management Limited Hong Kong purchased a new position in monday.com during the third quarter valued at $2,840,000. Plato Investment Management Ltd bought a new stake in monday.com in the third quarter worth $673,000. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of monday.com by 3.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,691 shares of the company’s stock worth $18,525,000 after acquiring an additional 2,085 shares during the last quarter. Finally, Rakuten Securities Inc. increased its holdings in shares of monday.com by 3.6% during the third quarter. Rakuten Securities Inc. now owns 9,299 shares of the company’s stock valued at $2,583,000 after acquiring an additional 319 shares in the last quarter. Institutional investors own 73.70% of the company’s stock.

monday.com Price Performance

Shares of MNDY stock opened at $260.15 on Thursday. The company has a market cap of $12.56 billion, a price-to-earnings ratio of 634.51, a PEG ratio of 12.26 and a beta of 1.31. monday.com Ltd. has a 1 year low of $169.46 and a 1 year high of $324.99. The firm has a fifty day moving average price of $281.22 and a 200-day moving average price of $250.02.

monday.com (NASDAQ:MNDY) last posted 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 firm had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. During the same quarter last year, the company earned $0.15 earnings per share. The business’s revenue for the quarter was up 49.5% compared to the same quarter last year. Equities research analysts expect that monday.com Ltd. will post 0.5 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Canaccord Genuity Group upped their price target on shares of monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, November 12th. Citigroup increased their price target on shares of monday.com from $296.00 to $327.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Oppenheimer boosted their price objective on shares of monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. UBS Group increased their target price on monday.com from $240.00 to $280.00 and gave the company a “neutral” rating in a research note on Tuesday, August 13th. Finally, Loop Capital boosted their price target on monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Five investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target 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.