monday.com (NASDAQ:MNDY) Issues Quarterly Earnings Results, Beats Expectations By $0.73 EPS

Key Points

• monday.com beat quarterly earnings expectations, reporting EPS of $2.14 versus the $1.41 consensus estimate, a $0.73 outperformance.
• Revenue was $377.54 million, above analyst estimates of $369.17 million.
• Analysts’ average rating is Hold, with an average price target of $107.35; 12 analysts rate the stock Buy and 13 rate it Hold.

monday.com (NASDAQ:MNDY - Get Free Report) announced its quarterly earnings data on Monday. The company reported $2.14 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.73, FiscalAI reports. monday.com had a return on equity of 9.09% and a net margin of 8.87%. The company had revenue of $377.54 million during the quarter, compared to analyst estimates of $369.17 million.

monday.com Price Performance

MNDY stock opened at $87.93 on Monday. The firm has a market capitalization of $4.50 billion, a PE ratio of 37.42, a PEG ratio of 1.98 and a beta of 1.06. monday.com has a twelve month low of $57.50 and a twelve month high of $190.72. The stock has a 50-day simple moving average of $90.72 and a two-hundred day simple moving average of $83.05.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MNDY. Capital One Financial lowered shares of monday.com from an "overweight" rating to an "equal weight" rating and set a $95.00 target price for the company. in a research report on Monday, August 10th. Morgan Stanley set a $105.00 price target on shares of monday.com in a research report on Tuesday, November 3rd. Wolfe Research lowered shares of monday.com from an "outperform" rating to a "peer perform" rating in a research report on Tuesday, August 11th. Wall Street Zen upgraded shares of monday.com from a "hold" rating to a "buy" rating in a research note on Sunday, November 1st. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $90.00 price objective on shares of monday.com in a report on Thursday, October 29th. Twelve investment analysts have rated the stock with a Buy rating and thirteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $107.35.

Insider Activity

In other news, Director Aviad Eyal sold 2,000 shares of the stock in a transaction dated Tuesday, October 20th. The shares were sold at an average price of $100.04, for a total value of $200,080.00. Following the sale, the director directly owned 203,455 shares of the company's stock, valued at approximately $20,353,638.20. This represents a 0.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 22.30% of the company's stock.

monday.com Company Profile

monday.com Ltd. is a software company that provides a cloud-based platform for organizations to plan, manage and track work. Founded in 2012 as dapulse, the company adopted the monday.com name in 2017.

Its products include monday work management, monday CRM, monday dev and monday service. The platform offers tools for project and workflow management, customer relationship management, software development and service operations, with features for collaboration, automation and reporting.

Headquartered in Tel Aviv, Israel, monday.com serves customers across a range of industries and geographies.

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