We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Monday.com (MNDY) Ascends But Remains Behind Market: Some Facts to Note
Read MoreHide Full Article
Monday.com (MNDY - Free Report) closed at $237.97 in the latest trading session, marking a +0.79% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.11%. Elsewhere, the Dow gained 1.64%, while the tech-heavy Nasdaq added 1.03%.
Heading into today, shares of the project management software developer had lost 0.08% over the past month, outpacing the Computer and Technology sector's loss of 5.32% and the S&P 500's loss of 1.16% 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. In the meantime, our current consensus estimate forecasts the revenue to be $227.96 million, indicating a 29.76% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.29 per share and revenue of $944.84 million. These totals would mark changes of +23.78% and +29.48%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Monday.com boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Monday.com has a Forward P/E ratio of 103.23 right now. This expresses a premium compared to the average Forward P/E of 31.06 of its industry.
Also, we should mention that MNDY has a PEG ratio of 2.48. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. MNDY's industry had an average PEG ratio of 1.79 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 96, positioning it in the top 39% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Monday.com (MNDY) Ascends But Remains Behind Market: Some Facts to Note
Monday.com (MNDY - Free Report) closed at $237.97 in the latest trading session, marking a +0.79% move from the prior day. The stock's performance was behind the S&P 500's daily gain of 1.11%. Elsewhere, the Dow gained 1.64%, while the tech-heavy Nasdaq added 1.03%.
Heading into today, shares of the project management software developer had lost 0.08% over the past month, outpacing the Computer and Technology sector's loss of 5.32% and the S&P 500's loss of 1.16% 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. In the meantime, our current consensus estimate forecasts the revenue to be $227.96 million, indicating a 29.76% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.29 per share and revenue of $944.84 million. These totals would mark changes of +23.78% and +29.48%, respectively, from last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. At present, Monday.com boasts a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Monday.com has a Forward P/E ratio of 103.23 right now. This expresses a premium compared to the average Forward P/E of 31.06 of its industry.
Also, we should mention that MNDY has a PEG ratio of 2.48. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. MNDY's industry had an average PEG ratio of 1.79 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 96, positioning it in the top 39% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.