monday.com (NASDAQ:MNDY) Announces Earnings Results, Beats Estimates By $0.19 EPS

Key Points

• monday.com beat quarterly earnings expectations, reporting $1.15 EPS versus the $0.96 consensus estimate, a $0.19 upside surprise. EPS was also slightly above the $1.10 reported in the same quarter last year.
• Revenue grew 24.4% year over year, showing continued top-line expansion for the SaaS company. The quarter also reflected a net margin of 9.64% and return on equity of 4.80%.
• Analyst sentiment remains mostly positive despite recent target cuts, with 17 Buy ratings, seven Hold ratings, and one Sell rating. The stock’s average price target is $144.09, according to MarketBeat data.

monday.com (NASDAQ:MNDY - Get Free Report) posted its quarterly earnings data on Monday. The company reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.19, Briefing.com reports. monday.com had a return on equity of 4.80% and a net margin of 9.64%.During the same period in the previous year, the business posted $1.10 EPS. The company's revenue was up 24.4% on a year-over-year basis.

monday.com Price Performance

Shares of MNDY stock opened at $72.07 on Monday. The firm's 50-day moving average is $70.52 and its two-hundred day moving average is $116.62. monday.com has a 12 month low of $57.50 and a 12 month high of $316.98. The company has a market capitalization of $3.69 billion, a PE ratio of 32.03, a price-to-earnings-growth ratio of 1.44 and a beta of 1.17.

Institutional Trading of monday.com

A number of hedge funds and other institutional investors have recently made changes to their positions in MNDY. NewEdge Advisors LLC lifted its holdings in monday.com by 2,120.0% in the first quarter. NewEdge Advisors LLC now owns 111 shares of the company's stock valued at $27,000 after acquiring an additional 106 shares during the last quarter. Advisory Services Network LLC acquired a new stake in monday.com during the third quarter worth $28,000. Quarry LP purchased a new stake in monday.com in the fourth quarter valued at $29,000. EverSource Wealth Advisors LLC raised its position in monday.com by 76.5% in the second quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company's stock valued at $47,000 after purchasing an additional 65 shares during the period. Finally, Empowered Funds LLC acquired a new position in shares of monday.com in the 4th quarter valued at $50,000. Institutional investors and hedge funds own 73.70% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on MNDY shares. Zacks Research downgraded monday.com from a "strong-buy" rating to a "hold" rating in a research note on Friday, May 1st. Loop Capital set a $80.00 target price on shares of monday.com in a report on Tuesday, February 10th. Needham & Company LLC decreased their price target on shares of monday.com from $250.00 to $125.00 and set a "buy" rating on the stock in a research note on Monday, February 9th. Citigroup dropped their price objective on shares of monday.com from $230.00 to $176.00 and set a "buy" rating for the company in a research note on Tuesday, February 10th. Finally, BTIG Research cut their price objective on shares of monday.com from $210.00 to $135.00 and set a "buy" rating for the company in a report on Tuesday, February 10th. Seventeen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, monday.com presently has an average rating of "Moderate Buy" and an average price target of $144.09.

About monday.com

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com's visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company's product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.