Spire Wealth Management Invests $125,000 in monday.com Ltd. (NASDAQ:MNDY)

Spire Wealth Management acquired a new position in shares of monday.com Ltd. (NASDAQ:MNDY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 530 shares of the company’s stock, valued at approximately $125,000.

A number of other hedge funds also recently made changes to their positions in MNDY. FMR LLC lifted its holdings in shares of monday.com by 112.0% during the 3rd quarter. FMR LLC now owns 1,512,094 shares of the company’s stock worth $420,014,000 after acquiring an additional 798,791 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of monday.com by 1,024.7% during the 4th quarter. SG Americas Securities LLC now owns 476,392 shares of the company’s stock worth $112,162,000 after acquiring an additional 434,035 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of monday.com by 77.5% during the 3rd quarter. Jennison Associates LLC now owns 730,478 shares of the company’s stock worth $202,905,000 after acquiring an additional 318,837 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of monday.com by 431.7% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 385,843 shares of the company’s stock worth $107,176,000 after acquiring an additional 313,279 shares during the last quarter. Finally, International Assets Investment Management LLC bought a new stake in shares of monday.com during the 3rd quarter worth $21,989,000. 73.70% of the stock is owned by institutional investors.

monday.com Price Performance

Shares of NASDAQ MNDY opened at $258.24 on Friday. monday.com Ltd. has a 1 year low of $174.75 and a 1 year high of $324.99. The company’s 50-day moving average is $249.33 and its 200 day moving average is $261.02. The stock has a market capitalization of $12.47 billion, a P/E ratio of 629.85, a P/E/G ratio of 7.12 and a beta of 1.31.

monday.com (NASDAQ:MNDY) last announced its quarterly earnings results on Monday, November 11th. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 4.99%. The company had revenue of $251.00 million for the quarter, compared to analysts’ expectations of $246.17 million. During the same quarter in the previous year, the company earned $0.15 earnings per share. monday.com’s quarterly revenue was up 49.5% on a year-over-year basis. Research analysts anticipate that monday.com Ltd. will post 0.85 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on MNDY. Wells Fargo & Company lifted their target price on shares of monday.com from $330.00 to $340.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 21st. 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. KeyCorp cut shares of monday.com from an “overweight” rating to a “sector weight” rating in a research report on Friday, December 13th. Canaccord Genuity Group lifted their target price on shares of monday.com from $295.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Finally, Loop Capital decreased their target price on shares of monday.com from $310.00 to $300.00 and set a “buy” rating on the stock in a research report on Monday, December 23rd. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $310.68.

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.