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Why the Market Dipped But Monday.com (MNDY) Gained Today
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The latest trading session saw Monday.com (MNDY - Free Report) ending at $282.61, denoting a +0.93% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 0.21% for the day. Meanwhile, the Dow experienced a drop of 0.14%, and the technology-dominated Nasdaq saw a decrease of 0.05%.
Heading into today, shares of the project management software developer had gained 11.9% over the past month, outpacing the Computer and Technology sector's gain of 9.62% and the S&P 500's gain of 5.94% in that time.
The investment community will be paying close attention to the earnings performance of Monday.com in its upcoming release. The company's upcoming EPS is projected at $0.61, signifying a 4.69% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $245.56 million, up 29.79% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.76 per share and revenue of $959.02 million, which would represent changes of +49.19% and +31.43%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Monday.com. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Monday.com presently features a Zacks Rank of #3 (Hold).
Investors should also note Monday.com's current valuation metrics, including its Forward P/E ratio of 101.35. This valuation marks a premium compared to its industry's average Forward P/E of 31.19.
Investors should also note that MNDY has a PEG ratio of 2.4 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 2.03.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 69, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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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Why the Market Dipped But Monday.com (MNDY) Gained Today
The latest trading session saw Monday.com (MNDY - Free Report) ending at $282.61, denoting a +0.93% adjustment from its last day's close. The stock exceeded the S&P 500, which registered a loss of 0.21% for the day. Meanwhile, the Dow experienced a drop of 0.14%, and the technology-dominated Nasdaq saw a decrease of 0.05%.
Heading into today, shares of the project management software developer had gained 11.9% over the past month, outpacing the Computer and Technology sector's gain of 9.62% and the S&P 500's gain of 5.94% in that time.
The investment community will be paying close attention to the earnings performance of Monday.com in its upcoming release. The company's upcoming EPS is projected at $0.61, signifying a 4.69% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $245.56 million, up 29.79% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $2.76 per share and revenue of $959.02 million, which would represent changes of +49.19% and +31.43%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Monday.com. Such recent modifications usually signify the changing landscape of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. Monday.com presently features a Zacks Rank of #3 (Hold).
Investors should also note Monday.com's current valuation metrics, including its Forward P/E ratio of 101.35. This valuation marks a premium compared to its industry's average Forward P/E of 31.19.
Investors should also note that MNDY has a PEG ratio of 2.4 right now. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 2.03.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 69, putting it in the top 28% of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.