5 Cathie Wood Stocks to Buy Before the Bull Run Starts

3. monday.com Ltd. (NASDAQ:MNDY)

Number of Hedge Fund Holders: 25

monday.com Ltd. (NASDAQ:MNDY) is an Israel-based developer of work management software applications in the United States, Europe, the Middle East, Africa, and internationally. The stock has lost 57% in value year to date as of August 17. However, Cathie Wood strengthened her position in the stock by 14% in Q2 2022, holding 236,624 shares worth $26.8 million. On August 8, monday.com Ltd. (NASDAQ:MNDY) released its full-year guidance, which sparked a rally in cloud stocks. The company expects sales to be between $498 million and $502 million, up from the earlier outlook of $488 million to $492 million and compared to Wall Street consensus of $491.3 million.

On August 9, DA Davidson analyst Robert Simmons raised the price target on monday.com Ltd. (NASDAQ:MNDY) to $175 from $145 and kept a Buy rating on the shares. The company’s Q2 results exceeded investor expectations and alleviated fears of stronger macro headwinds or customer downgrades, the analyst told investors. The analyst added that despite forex headwinds and weakness in Europe, monday.com Ltd. (NASDAQ:MNDY)’s growth remains impressive as it scales.

Among the hedge funds tracked by Insider Monkey, 25 funds were bullish on monday.com Ltd. (NASDAQ:MNDY) at the end of Q2 2022, compared to 24 funds in the last quarter. Chase Coleman’s Tiger Global Management is the leading stakeholder of the company, with 778,126 shares worth $80.3 million.