CloudAlpha Capital Management Limited Hong Kong Takes Position in monday.com Ltd. (NASDAQ:MNDY)

CloudAlpha Capital Management Limited Hong Kong bought a new stake in monday.com Ltd. (NASDAQ:MNDY) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,226 shares of the company’s stock, valued at approximately $2,840,000. monday.com accounts for about 0.2% of CloudAlpha Capital Management Limited Hong Kong’s portfolio, making the stock its 27th largest holding.

Other hedge funds have also made changes to their positions in the company. Plato Investment Management Ltd purchased a new stake in monday.com during the 3rd quarter worth $673,000. Sumitomo Mitsui Trust Group Inc. increased its stake in monday.com by 3.2% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 66,691 shares of the company’s stock worth $18,525,000 after buying an additional 2,085 shares during the period. Rakuten Securities Inc. increased its stake in monday.com by 3.6% during the 3rd quarter. Rakuten Securities Inc. now owns 9,299 shares of the company’s stock worth $2,583,000 after buying an additional 319 shares during the period. Entropy Technologies LP purchased a new stake in monday.com during the 3rd quarter worth $349,000. Finally, Venturi Wealth Management LLC increased its stake in monday.com by 83.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 1,000 shares of the company’s stock worth $278,000 after buying an additional 456 shares during the period. Hedge funds and other institutional investors own 73.70% of the company’s stock.

monday.com Stock Up 3.3 %

monday.com stock opened at $269.16 on Thursday. The firm has a 50-day moving average price of $279.69 and a two-hundred day moving average price of $247.51. The firm has a market capitalization of $13.00 billion, a price-to-earnings ratio of 656.49, a PEG ratio of 12.15 and a beta of 1.31. monday.com Ltd. has a 52-week low of $159.22 and a 52-week high of $324.99.

monday.com (NASDAQ:MNDY) last released its quarterly earnings results on Monday, November 11th. The company reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24. monday.com had a net margin of 2.39% and a return on equity of 5.15%. The company had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. During the same period in the previous year, the firm earned $0.15 EPS. monday.com’s revenue was up 49.5% on a year-over-year basis. Research analysts expect that monday.com Ltd. will post 0.5 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Citigroup lifted their price target on shares of monday.com from $296.00 to $327.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Bank of America lifted their price target on shares of monday.com from $280.00 to $300.00 and gave the stock a “buy” rating in a research note on Tuesday, August 13th. Barclays raised their price objective on shares of monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Tigress Financial raised their price objective on shares of monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Capital One Financial initiated coverage on shares of monday.com in a report on Thursday, October 10th. They set an “overweight” rating and a $325.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $310.10.

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.