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Monday.com (MNDY) Ascends While Market Falls: Some Facts to Note
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The latest trading session saw Monday.com (MNDY - Free Report) ending at $236.49, denoting a +0.36% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 0.16%. Meanwhile, the Dow experienced a drop of 0.14%, and the technology-dominated Nasdaq saw a decrease of 0.06%.
Heading into today, shares of the project management software developer had gained 6.3% over the past month, outpacing the Computer and Technology sector's gain of 0.47% and the S&P 500's gain of 1.96% in that time.
Market participants will be closely following the financial results of Monday.com in its upcoming release. The company plans to announce its earnings on August 12, 2024. The company's earnings per share (EPS) are projected to be $0.54, reflecting a 31.71% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $227.96 million, showing a 29.76% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.29 per share and revenue of $944.84 million, indicating changes of +23.78% and +29.48%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Monday.com. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Monday.com presently features a Zacks Rank of #2 (Buy).
In the context of valuation, Monday.com is at present trading with a Forward P/E ratio of 103.03. This valuation marks a premium compared to its industry's average Forward P/E of 30.41.
Meanwhile, MNDY's PEG ratio is currently 2.47. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.78.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Monday.com (MNDY) Ascends While Market Falls: Some Facts to Note
The latest trading session saw Monday.com (MNDY - Free Report) ending at $236.49, denoting a +0.36% adjustment from its last day's close. This move outpaced the S&P 500's daily loss of 0.16%. Meanwhile, the Dow experienced a drop of 0.14%, and the technology-dominated Nasdaq saw a decrease of 0.06%.
Heading into today, shares of the project management software developer had gained 6.3% over the past month, outpacing the Computer and Technology sector's gain of 0.47% and the S&P 500's gain of 1.96% in that time.
Market participants will be closely following the financial results of Monday.com in its upcoming release. The company plans to announce its earnings on August 12, 2024. The company's earnings per share (EPS) are projected to be $0.54, reflecting a 31.71% increase from the same quarter last year. Simultaneously, our latest consensus estimate expects the revenue to be $227.96 million, showing a 29.76% escalation compared to the year-ago quarter.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.29 per share and revenue of $944.84 million, indicating changes of +23.78% and +29.48%, respectively, compared to the previous year.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for Monday.com. Such recent modifications usually signify the changing landscape of near-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Monday.com presently features a Zacks Rank of #2 (Buy).
In the context of valuation, Monday.com is at present trading with a Forward P/E ratio of 103.03. This valuation marks a premium compared to its industry's average Forward P/E of 30.41.
Meanwhile, MNDY's PEG ratio is currently 2.47. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.78.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 86, which puts it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.