monday.com (NASDAQ:MNDY) Announces Earnings Results

monday.com (NASDAQ:MNDY) released its quarterly earnings data on Monday. The company reported $0.85 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24, Briefing.com reports. monday.com had a net margin of 2.39% and a return on equity of 5.15%. The company had revenue of $251.00 million during the quarter, compared to analyst estimates of $246.17 million. During the same period in the prior year, the firm earned $0.15 earnings per share. The firm’s revenue for the quarter was up 49.5% compared to the same quarter last year. monday.com updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

monday.com Stock Performance

Shares of NASDAQ:MNDY traded up $7.96 during midday trading on Wednesday, reaching $268.55. 426,183 shares of the company’s stock traded hands, compared to its average volume of 715,723. The company has a market cap of $12.97 billion, a P/E ratio of 635.59, a PEG ratio of 12.91 and a beta of 1.31. The company has a fifty day simple moving average of $279.27 and a two-hundred day simple moving average of $247.35. monday.com has a 1 year low of $159.22 and a 1 year high of $324.99.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MNDY. Barclays upped their target price on monday.com from $300.00 to $325.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Tigress Financial upped their target price on monday.com from $280.00 to $340.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. UBS Group lifted their target price on shares of monday.com from $240.00 to $280.00 and gave the stock a “neutral” rating in a research note on Tuesday, August 13th. Robert W. Baird raised their price target on shares of monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Wells Fargo & Company lifted their price objective on shares of monday.com from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Five research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to data from MarketBeat.com, monday.com presently has an average rating of “Moderate Buy” and an average price target of $310.10.

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.