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Monday.com (MNDY) Outperforms Broader Market: What You Need to Know
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In the latest trading session, Monday.com (MNDY - Free Report) closed at $299.55, marking a +1.93% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.41% for the day. On the other hand, the Dow registered a gain of 0.69%, and the technology-centric Nasdaq increased by 0.8%.
The the stock of project management software developer has risen by 6.48% in the past month, leading the Computer and Technology sector's loss of 0.01% and the S&P 500's loss of 0.97%.
Market participants will be closely following the financial results of Monday.com in its upcoming release. The company plans to announce its earnings on November 11, 2024. The company is expected to report EPS of $0.61, down 4.69% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $245.67 million, reflecting a 29.85% rise from the equivalent quarter last year.
MNDY's full-year Zacks Consensus Estimates are calling for earnings of $2.77 per share and revenue of $959.18 million. These results would represent year-over-year changes of +49.73% and +31.45%, respectively.
Investors might also notice recent changes to analyst estimates for Monday.com. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 shifted 4.12% upward. Right now, Monday.com possesses a Zacks Rank of #1 (Strong Buy).
Investors should also note Monday.com's current valuation metrics, including its Forward P/E ratio of 105.95. This represents a premium compared to its industry's average Forward P/E of 30.5.
One should further note that MNDY currently holds a PEG ratio of 2.51. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Internet - Software industry had an average PEG ratio of 2.28 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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Monday.com (MNDY) Outperforms Broader Market: What You Need to Know
In the latest trading session, Monday.com (MNDY - Free Report) closed at $299.55, marking a +1.93% move from the previous day. The stock exceeded the S&P 500, which registered a gain of 0.41% for the day. On the other hand, the Dow registered a gain of 0.69%, and the technology-centric Nasdaq increased by 0.8%.
The the stock of project management software developer has risen by 6.48% in the past month, leading the Computer and Technology sector's loss of 0.01% and the S&P 500's loss of 0.97%.
Market participants will be closely following the financial results of Monday.com in its upcoming release. The company plans to announce its earnings on November 11, 2024. The company is expected to report EPS of $0.61, down 4.69% from the prior-year quarter. At the same time, our most recent consensus estimate is projecting a revenue of $245.67 million, reflecting a 29.85% rise from the equivalent quarter last year.
MNDY's full-year Zacks Consensus Estimates are calling for earnings of $2.77 per share and revenue of $959.18 million. These results would represent year-over-year changes of +49.73% and +31.45%, respectively.
Investors might also notice recent changes to analyst estimates for Monday.com. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 shifted 4.12% upward. Right now, Monday.com possesses a Zacks Rank of #1 (Strong Buy).
Investors should also note Monday.com's current valuation metrics, including its Forward P/E ratio of 105.95. This represents a premium compared to its industry's average Forward P/E of 30.5.
One should further note that MNDY currently holds a PEG ratio of 2.51. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. The Internet - Software industry had an average PEG ratio of 2.28 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 83, which puts it in the top 33% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.