Teacher Retirement System of Texas Increases Stake in monday.com Ltd.

The Teacher Retirement System of Texas has significantly increased its investment in monday.com Ltd. (NASDAQ:MNDY) by 138.4% during the fourth quarter, as reported in their latest filing with the Securities and Exchange Commission. After acquiring an additional 5,800 shares in that period, the institution now holds a total of 9,992 shares in the company. This investment is valued at approximately $2.35 million at the conclusion of the most recent reporting period.

Several other hedge funds and institutional investors have also made recent adjustments to their positions in monday.com. Stonebridge Financial Group LLC added a new stake worth around $25,000 during the fourth quarter. Similarly, Arcadia Investment Management Corp MI also took a new position in the company, valued at approximately $28,000. Additionally, R Squared Ltd invested about $33,000 into monday.com shares during the same quarter.

Signaturefd LLC increased its holdings by 157.1% during this period and now owns 144 shares valued at $34,000 after purchasing an additional 88 shares. Global Retirement Partners LLC also boosted its stake in monday.com by 64.8%, now holding 150 shares worth approximately $35,000 after acquiring 59 extra shares in the latest quarter. Currently, institutional investors collectively own about 73.70% of monday.com's stock.

Market Performance of monday.com

As of Thursday, shares of monday.com Ltd. (NASDAQ:MNDY) opened at $264.47. The company has seen a 12-month low of $174.75 and a high of $342.64 within the same period. The stock has a market capitalization of $12.77 billion, a price-to-earnings ratio of 440.78, and a PEG ratio of 16.53. The company's stock has a beta of 1.27, indicating volatility compared to the market. The fifty-day and two-hundred-day simple moving averages for the stock are $272.59 and $270.19, respectively.

Financial Results and Analyst Ratings

monday.com reported its earnings on February 10th, indicating an earnings per share (EPS) of $0.50 for the quarter, falling short of the consensus estimate of $0.78 by $0.28. The company recorded a net margin of 3.33% and a return on equity of 6.22%. Analysts predict that monday.com will have an EPS of 0.46 for the current fiscal year.

Many analysts have recently published research reports on monday.com. Piper Sandler raised their price target for the stock from $345.00 to $385.00, rating it as "overweight". Barclays set a new price objective of $360.00 from a previous estimate of $325.00, also recommending an overweight rating. Jefferies Financial Group increased its target from $300.00 to $400.00, marking it as a buy. The Goldman Sachs Group similarly elevated their target price to $400.00, maintaining a buy recommendation. Wells Fargo & Company also raised their price target from $340.00 to $380.00 with an overweight rating. Overall, three analysts have assigned hold ratings, while 21 have issued buy ratings, giving the stock an overall average rating of "Moderate Buy" with an average price target set at $354.45.

Company Overview

monday.com Ltd. develops software applications across various regions, including the United States, Europe, the Middle East, Africa, and the UK. The company is known for its Work OS, which is a cloud-based visual work operating system, allowing users to create software applications and manage their work using modular building blocks.

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