monday.com (NASDAQ:MNDY) Announces Earnings Results

monday.com (NASDAQ:MNDY) released its quarterly earnings results on Monday. The company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.24, Briefing.com reports. monday.com had a net margin of 4.88% and a return on equity of 4.74%. The business had revenue of $251.00 million for the quarter, compared to analysts’ expectations of $246.17 million. During the same period last year, the business earned $0.15 EPS. The company’s revenue 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 Price Performance

Shares of monday.com stock traded down $14.62 during midday trading on Tuesday, hitting $260.59. 2,117,804 shares of the company were exchanged, compared to its average volume of 717,034. monday.com has a 52 week low of $150.10 and a 52 week high of $324.99. The firm has a market cap of $12.58 billion, a P/E ratio of 339.61, a PEG ratio of 15.22 and a beta of 1.31. The firm has a 50 day simple moving average of $279.07 and a 200-day simple moving average of $246.86.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Tigress Financial increased their price target on monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. TD Cowen lifted their price target on shares of monday.com from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Needham & Company LLC lifted their price objective on monday.com from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday. UBS Group increased their target price on shares of monday.com from $240.00 to $280.00 and gave the stock a “neutral” rating in a report on Tuesday, August 13th. Finally, Wells Fargo & Company lifted their price target 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 equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.