In the latest market close, Monday.com (MNDY) hit $181.76, representing a +0.42% move from the prior day. The stock outperformed the S&P 500 index, posting a daily gain of 0.17%. Elsewhere, the Dow Jones Industrial Average rose 0.32%, while the tech-heavy Nasdaq fell 0.03%.
Shares of the project management software developer have lost 9.59% over the past month, lagging the Computer Technology sector’s gain of 0.39% and the S&P 500’s gain of 0.17%.
The investment community will be paying close attention to Monday.com’s earnings performance in its next release. The company plans to announce its results on May 15, 2024. The company’s future EPS is expected to be $0.39, representing an increase of 178.57% compared to the same period last year. At the same time, our latest consensus estimate is calling for revenue of $210.33 million, up 29.63% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.92 per share and revenue of $933.51 million, which would represent changes of +3.78% and +27.93%, respectively, from the prior year.
Investors should also note recent changes to analyst estimates on Monday.com. These latest adjustments often reflect changes in short-term business patterns. As a result, we can interpret positive estimate revisions as a good sign for the company’s business outlook.
Our research suggests that these estimate changes have a direct relationship with future stock performance. To benefit from this, we have created the Zacks Rank, a proprietary model that combines these estimate changes and provides a functional rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), has a remarkable, third-party-audited track record of outperformance, with #1 rated stocks having an average annual Generates a return of +25%. Over the past month, his Zacks Consensus EPS estimate has remained stagnant. It currently holds a Zacks Rank #3 (Hold) at Monday.com.
In terms of valuation, Monday.com is currently trading at a Forward P/E ratio of 94.48. Given its industry’s average Forward P/E of 30.5, one might conclude that Monday.com is trading at a relative premium.
The Internet – Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 84, putting it in the top 34% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank. The Zacks Industry Rank is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% of industries outperform the bottom half by a factor of 2 to 1.
In subsequent trading sessions, remember to utilize Zacks.com to monitor all of these metrics impacting the stock and more.
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monday.com Ltd. (MNDY): Free stock analysis report
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