Monday.com (MNDY) Outpaces Stock Market Gains: What You Should Know
In the latest trading session, Monday.com (MNDY) closed at $271.34, marking a +0.82% move from the previous day. This move outpaced the S&P 500's daily gain of 0.01%. At the same time, the Dow added 0.09%, and the tech-heavy Nasdaq gained 0.08%.
Shares of the project management software developer have appreciated by 7.32% over the course of the past month, outperforming the Computer and Technology sector's gain of 1.03% and the S&P 500's gain of 1.21%.
Market participants will be closely following the financial results of Monday.com in its upcoming release. The company's earnings per share (EPS) are projected to be $0.61, reflecting a 4.69% decrease from the same quarter last 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.
For the full year, the Zacks Consensus Estimates project earnings of $2.76 per share and a revenue of $959.02 million, demonstrating changes of +49.19% and +31.43%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Monday.com. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. Monday.com currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Monday.com has a Forward P/E ratio of 97.41 right now. This valuation marks a premium compared to its industry's average Forward P/E of 30.46.
It is also worth noting that MNDY currently has a PEG ratio of 2.31. 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 2.01.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 73, which puts it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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monday.com Ltd. (MNDY) : Free Stock Analysis Report