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Monday.com (MNDY) Outperforms Broader Market: What You Need to Know
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Monday.com (MNDY - Free Report) closed at $281.64 in the latest trading session, marking a +1.33% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.25%. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, added 0.56%.
Coming into today, shares of the project management software developer had gained 5.53% in the past month. In that same time, the Computer and Technology sector lost 0.11%, while the S&P 500 gained 1.65%.
Analysts and investors alike will be keeping a close eye on the performance of Monday.com in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.61, showcasing a 4.69% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $245.56 million, indicating a 29.79% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.76 per share and a revenue of $959.02 million, indicating changes of +49.19% and +31.43%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Monday.com. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Monday.com is currently a Zacks Rank #3 (Hold).
With respect to valuation, Monday.com is currently being traded at a Forward P/E ratio of 100.6. For comparison, its industry has an average Forward P/E of 31.07, which means Monday.com is trading at a premium to the group.
One should further note that MNDY currently holds a PEG ratio of 2.38. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Internet - Software industry had an average PEG ratio of 2.05.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 73, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
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Monday.com (MNDY) Outperforms Broader Market: What You Need to Know
Monday.com (MNDY - Free Report) closed at $281.64 in the latest trading session, marking a +1.33% move from the prior day. The stock outpaced the S&P 500's daily gain of 0.25%. Meanwhile, the Dow gained 0.2%, and the Nasdaq, a tech-heavy index, added 0.56%.
Coming into today, shares of the project management software developer had gained 5.53% in the past month. In that same time, the Computer and Technology sector lost 0.11%, while the S&P 500 gained 1.65%.
Analysts and investors alike will be keeping a close eye on the performance of Monday.com in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.61, showcasing a 4.69% downward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $245.56 million, indicating a 29.79% growth compared to the corresponding quarter of the prior year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.76 per share and a revenue of $959.02 million, indicating changes of +49.19% and +31.43%, respectively, from the former year.
Investors should also note any recent changes to analyst estimates for Monday.com. Such recent modifications usually signify the changing landscape of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Monday.com is currently a Zacks Rank #3 (Hold).
With respect to valuation, Monday.com is currently being traded at a Forward P/E ratio of 100.6. For comparison, its industry has an average Forward P/E of 31.07, which means Monday.com is trading at a premium to the group.
One should further note that MNDY currently holds a PEG ratio of 2.38. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. By the end of yesterday's trading, the Internet - Software industry had an average PEG ratio of 2.05.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 73, positioning it in the top 29% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.