5 Most Successful Tech IPOs of 2021

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In this article, we discuss the 5 most successful tech IPOs of 2021. If you want to read our detailed analysis of these stocks, go directly to the 10 Most Successful Tech IPOs of 2021

5. Monday.com Ltd. (NASDAQ:MNDY)

Number of Hedge Fund Holders: 17  

Gain in 2021: 71%

Monday.com Ltd. (NASDAQ:MNDY) is a systems software firm. It operates in the high growth cloud market and is undervalued compared to other tech stocks given that it recently beat market estimates on earnings and also has high levels of customer satisfaction. This is because the company offers businesses the chance to build customized software applications using the tools provided by Monday.com Ltd. (NASDAQ:MNDY). The total addressable market for Monday.com Ltd. (NASDAQ:MNDY) is 200 times present revenues. 

Canaccord analyst David Hynes recently reiterated a Buy rating on Monday.com Ltd. (NASDAQ:MNDY) stock and raised the price target to $430 from $350, noting the stock was one that “growth investors should continue to own” despite a pullback in share prices. 

At the end of the third quarter of 2021, 17 hedge funds in the database of Insider Monkey held stakes worth $495 million in Monday.com Ltd. (NASDAQ:MNDY), down from 19 in the preceding quarter worth $180 million. 

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