monday.com (NASDAQ:MNDY) Announces Quarterly Earnings Results

Key Points

• monday.com beat quarterly expectations: EPS was $1.48 versus the $1.11 consensus estimate, while revenue reached $364.62 million compared with forecasts of $355.55 million. The company reported a 9.17% net margin and 5.10% return on equity.
• MNDY opened at $93.13, with a $4.76 billion market capitalization and a valuation of 40.49 times earnings. The stock remains well below its 52-week high of $252.86 but above its 52-week low of $57.50.
• Analysts maintain a “Moderate Buy” consensus, with 17 Buy, seven Hold and one Sell rating and an average price target of $126.78. Institutional investors and hedge funds own approximately 73.7% of the company.

monday.com (NASDAQ:MNDY - Get Free Report) released its earnings results on Monday. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.11 by $0.37, FiscalAI reports. The firm had revenue of $364.62 million for the quarter, compared to analyst estimates of $355.55 million. monday.com had a net margin of 9.17% and a return on equity of 5.10%.

monday.com Price Performance

MNDY stock opened at $93.13 on Monday. The stock has a market cap of $4.76 billion, a price-to-earnings ratio of 40.49, a P/E/G ratio of 4.66 and a beta of 1.24. The company has a 50 day simple moving average of $80.75 and a 200 day simple moving average of $79.61. monday.com has a 1 year low of $57.50 and a 1 year high of $252.86.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MNDY. Canaccord Genuity Group reduced their price target on shares of monday.com from $140.00 to $115.00 and set a "buy" rating on the stock in a research report on Tuesday, May 12th. BTIG Research lowered their price objective on shares of monday.com from $115.00 to $105.00 and set a "buy" rating for the company in a research report on Tuesday, July 14th. UBS Group cut their target price on monday.com from $93.00 to $85.00 and set a "neutral" rating for the company in a research note on Tuesday, May 12th. Piper Sandler raised their target price on monday.com from $85.00 to $90.00 and gave the company a "neutral" rating in a report on Monday, May 11th. Finally, Tigress Financial decreased their price target on monday.com to $165.00 and set a "buy" rating on the stock in a research note on Friday, May 22nd. Seventeen research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, monday.com presently has an average rating of "Moderate Buy" and an average price target of $126.78.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of MNDY. T. Rowe Price Investment Management Inc. lifted its stake in shares of monday.com by 15.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,274,910 shares of the company's stock valued at $188,126,000 after acquiring an additional 165,996 shares during the last quarter. Sunstone Asset Management L.P. bought a new stake in monday.com during the 4th quarter worth $1,718,000. Empowered Funds LLC acquired a new position in monday.com in the 4th quarter worth about $50,000. XTX Topco Ltd increased its holdings in monday.com by 244.8% in the 4th quarter. XTX Topco Ltd now owns 27,927 shares of the company's stock worth $4,121,000 after purchasing an additional 19,827 shares in the last quarter. Finally, Twinbeech Capital LP bought a new position in monday.com in the fourth quarter valued at about $2,601,000. 73.70% of the stock is currently owned by institutional investors and hedge funds.

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source