Rakuten Securities Inc. Has $2.58 Million Position in monday.com Ltd. (NASDAQ:MNDY)

Rakuten Securities Inc. lifted its holdings in monday.com Ltd. (NASDAQ:MNDY) by 3.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,299 shares of the company’s stock after purchasing an additional 319 shares during the quarter. monday.com comprises 1.1% of Rakuten Securities Inc.’s holdings, making the stock its 17th biggest position. Rakuten Securities Inc.’s holdings in monday.com were worth $2,583,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of monday.com in the third quarter valued at about $43,000. Ridgewood Investments LLC acquired a new position in monday.com during the 2nd quarter worth approximately $45,000. Gilliland Jeter Wealth Management LLC grew its stake in shares of monday.com by 72.9% during the 2nd quarter. Gilliland Jeter Wealth Management LLC now owns 242 shares of the company’s stock worth $58,000 after acquiring an additional 102 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of monday.com in the second quarter valued at approximately $69,000. Finally, Industrial Alliance Investment Management Inc. lifted its position in shares of monday.com by 741.7% in the first quarter. Industrial Alliance Investment Management Inc. now owns 404 shares of the company’s stock worth $91,000 after purchasing an additional 356 shares in the last quarter. 73.70% of the stock is owned by institutional investors.

monday.com Trading Down 15.1 %

NASDAQ:MNDY opened at $275.21 on Tuesday. The stock has a 50 day simple moving average of $279.07 and a 200 day simple moving average of $246.86. The stock has a market cap of $13.29 billion, a P/E ratio of 344.01, a PEG ratio of 15.22 and a beta of 1.31. monday.com Ltd. has a 1-year low of $150.10 and a 1-year high of $324.99.

monday.com (NASDAQ:MNDY) last posted its earnings results on Monday, August 12th. The company reported $0.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.23. monday.com had a return on equity of 4.74% and a net margin of 4.88%. The company had revenue of $236.11 million during the quarter, compared to the consensus estimate of $227.96 million. As a group, sell-side analysts forecast that monday.com Ltd. will post 0.5 EPS for the current year.

Wall Street Analyst Weigh In

MNDY has been the topic of several recent research reports. Piper Sandler lifted their price target on shares of monday.com from $340.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday. Bank of America lifted their target price on monday.com from $280.00 to $300.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Canaccord Genuity Group increased their price target on monday.com from $250.00 to $295.00 and gave the company a “buy” rating in a research report on Tuesday, August 13th. Barclays boosted their price target on monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 1st. Finally, The Goldman Sachs Group raised their target price on shares of monday.com from $300.00 to $340.00 and gave the company a “buy” rating in a research note on Tuesday, August 13th. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $306.60.

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.