monday.com (NASDAQ:MNDY) Releases Quarterly Earnings Results, Beats Expectations By $0.24 EPS

by · The Cerbat Gem

monday.com (NASDAQ:MNDY – Get Free Report) announced its quarterly earnings data on Monday. The company reported $0.85 EPS for the quarter, beating the consensus estimate of $0.61 by $0.24, Briefing.com reports. The firm had revenue of $251.00 million for the quarter, compared to the consensus estimate of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 5.15%. The company’s revenue was up 49.5% on a year-over-year basis. During the same period last year, the firm earned $0.15 EPS. monday.com updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

monday.com Price Performance

NASDAQ:MNDY traded up $8.57 during trading hours on Wednesday, hitting $269.16. 1,741,071 shares of the company were exchanged, compared to its average volume of 722,211. The stock has a market capitalization of $13.00 billion, a price-to-earnings ratio of 661.66, a PEG ratio of 12.15 and a beta of 1.31. monday.com has a 52-week low of $159.22 and a 52-week high of $324.99. The company’s 50 day moving average price is $279.27 and its 200-day moving average price is $247.35.

Analyst Ratings Changes

MNDY has been the topic of several recent analyst reports. TD Cowen raised their price objective on shares of monday.com from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Oppenheimer raised their target price on shares of monday.com from $275.00 to $325.00 and gave the company an “outperform” rating in a research note on Tuesday, October 22nd. Baird R W raised shares of monday.com to a “hold” rating in a research note on Tuesday, July 23rd. Capital One Financial began coverage on shares of monday.com in a research note on Thursday, October 10th. They set an “overweight” rating and a $325.00 target price for the company. Finally, Barclays raised their target price on shares of monday.com from $300.00 to $325.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Five investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.10.

Read Our Latest Analysis on monday.com

monday.com Company Profile

(Get Free Report)

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.

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