Ion Asset Management Ltd. Has $10.65 Million Position in monday.com Ltd. $MNDY

Ion Asset Management Ltd. lifted its position in monday.com Ltd. (NASDAQ:MNDY) by 20.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,000 shares of the company’s stock after buying an additional 9,220 shares during the quarter. monday.com comprises approximately 1.2% of Ion Asset Management Ltd.’s holdings, making the stock its 19th largest position. Ion Asset Management Ltd.’s holdings in monday.com were worth $10,653,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Delta Global Management LP bought a new position in monday.com in the 3rd quarter worth approximately $1,406,000. Dorsal Capital Management LP boosted its holdings in monday.com by 13.3% in the 3rd quarter. Dorsal Capital Management LP now owns 425,000 shares of the company’s stock valued at $82,318,000 after purchasing an additional 50,000 shares during the period. Consolidated Press International Holdings Ltd. grew its position in monday.com by 26.7% during the third quarter. Consolidated Press International Holdings Ltd. now owns 51,554 shares of the company’s stock worth $9,985,000 after buying an additional 10,863 shares in the last quarter. California Public Employees Retirement System lifted its position in shares of monday.com by 7.3% in the 3rd quarter. California Public Employees Retirement System now owns 74,359 shares of the company’s stock worth $14,403,000 after acquiring an additional 5,079 shares during the period. Finally, ArrowMark Colorado Holdings LLC lifted its position in monday.com by 96.8% in the third quarter. ArrowMark Colorado Holdings LLC now owns 178,954 shares of the company’s stock worth $34,662,000 after purchasing an additional 88,027 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.

monday.com Stock Performance

Shares of MNDY opened at $74.86 on Monday. The business’s fifty day moving average price is $100.95 and its two-hundred day moving average price is $148.81. The firm has a market capitalization of $3.80 billion, a price-to-earnings ratio of 33.27, a PEG ratio of 1.38 and a beta of 1.32. monday.com Ltd. has a 52 week low of $68.68 and a 52 week high of $316.98.

monday.com (NASDAQ:MNDY) last released its earnings results on Monday, February 9th. The company reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.13. The company had revenue of $333.88 million during the quarter, compared to the consensus estimate of $329.71 million. monday.com had a return on equity of 4.80% and a net margin of 9.64%.The firm’s quarterly revenue was up 24.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 earnings per share. As a group, research analysts forecast that monday.com Ltd. will post 0.46 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on MNDY shares. Oppenheimer lowered their price target on monday.com from $200.00 to $130.00 and set an “outperform” rating on the stock in a research report on Monday, February 9th. Barclays set a $115.00 price objective on monday.com in a report on Tuesday, February 10th. Cantor Fitzgerald lowered their target price on shares of monday.com from $148.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, February 10th. Citigroup dropped their target price on shares of monday.com from $230.00 to $176.00 and set a “buy” rating for the company in a research report on Tuesday, February 10th. Finally, Needham & Company LLC cut their price target on shares of monday.com from $250.00 to $125.00 and set a “buy” rating for the company in a report on Monday, February 9th. Nineteen research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $155.38.

monday.com Company Profile

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.