Cinctive Capital Management LP Invests $1.34 Million in monday.com Ltd. (NASDAQ:MNDY)

Cinctive Capital Management LP purchased a new stake in shares of monday.com Ltd. (NASDAQ:MNDY) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,814 shares of the company’s stock, valued at approximately $1,337,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Atom Investors LP bought a new position in shares of monday.com in the third quarter valued at approximately $441,000. Paloma Partners Management Co acquired a new stake in monday.com during the 3rd quarter valued at $371,000. Kolinsky Wealth Management LLC bought a new position in monday.com in the 3rd quarter valued at $221,000. Verition Fund Management LLC boosted its stake in monday.com by 52.2% in the third quarter. Verition Fund Management LLC now owns 15,475 shares of the company’s stock worth $4,298,000 after purchasing an additional 5,306 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. grew its holdings in shares of monday.com by 18.2% during the third quarter. Northwest & Ethical Investments L.P. now owns 650 shares of the company’s stock worth $181,000 after purchasing an additional 100 shares during the last quarter. 73.70% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently issued reports on MNDY. Citigroup lifted their price target on monday.com from $296.00 to $327.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. DA Davidson reiterated a “neutral” rating and set a $300.00 target price on shares of monday.com in a research report on Tuesday, November 12th. Capital One Financial assumed coverage on shares of monday.com in a report on Thursday, October 10th. They issued an “overweight” rating and a $325.00 price target for the company. Barclays upped their price objective on monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Finally, Oppenheimer lifted their target price on monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, monday.com has an average rating of “Moderate Buy” and an average target price of $310.81.

monday.com Stock Up 2.2 %

MNDY opened at $280.80 on Wednesday. The company has a fifty day simple moving average of $284.29 and a 200 day simple moving average of $255.57. The stock has a market cap of $13.56 billion, a P/E ratio of 684.88, a P/E/G ratio of 7.65 and a beta of 1.25. monday.com Ltd. has a 12 month low of $170.00 and a 12 month 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 return on equity of 4.99% and a net margin of 2.39%. The company had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. During the same quarter last year, the firm posted $0.15 earnings per share. monday.com’s revenue was up 49.5% compared to the same quarter last year. On average, equities research analysts expect that monday.com Ltd. will post 0.85 earnings per share for the current fiscal year.

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.