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Monday.com (MNDY) Beats Stock Market Upswing: What Investors Need to Know
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The most recent trading session ended with Monday.com (MNDY - Free Report) standing at $318.56, reflecting a +0.8% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.74%.
Coming into today, shares of the project management software developer had gained 12.86% in the past month. In that same time, the Computer and Technology sector gained 3.99%, while the S&P 500 gained 3.16%.
The investment community will be closely monitoring the performance of Monday.com in its forthcoming earnings report. The company is scheduled to release its earnings on November 11, 2024. It is anticipated that the company will report an EPS of $0.61, marking a 4.69% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $245.67 million, indicating a 29.85% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.77 per share and a revenue of $959.18 million, signifying shifts of +49.73% and +31.45%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Monday.com. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.12% higher. Currently, Monday.com is carrying a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Monday.com currently has a Forward P/E ratio of 113.94. This expresses a premium compared to the average Forward P/E of 32.9 of its industry.
One should further note that MNDY currently holds a PEG ratio of 2.7. 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 currently had an average PEG ratio of 2.44 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 63, this industry ranks in the top 25% of all industries, numbering over 250.
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.
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 (MNDY) Beats Stock Market Upswing: What Investors Need to Know
The most recent trading session ended with Monday.com (MNDY - Free Report) standing at $318.56, reflecting a +0.8% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.74%.
Coming into today, shares of the project management software developer had gained 12.86% in the past month. In that same time, the Computer and Technology sector gained 3.99%, while the S&P 500 gained 3.16%.
The investment community will be closely monitoring the performance of Monday.com in its forthcoming earnings report. The company is scheduled to release its earnings on November 11, 2024. It is anticipated that the company will report an EPS of $0.61, marking a 4.69% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $245.67 million, indicating a 29.85% growth compared to the corresponding quarter of the prior year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $2.77 per share and a revenue of $959.18 million, signifying shifts of +49.73% and +31.45%, respectively, from the last year.
Investors might also notice recent changes to analyst estimates for Monday.com. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 4.12% higher. Currently, Monday.com is carrying a Zacks Rank of #1 (Strong Buy).
Digging into valuation, Monday.com currently has a Forward P/E ratio of 113.94. This expresses a premium compared to the average Forward P/E of 32.9 of its industry.
One should further note that MNDY currently holds a PEG ratio of 2.7. 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 currently had an average PEG ratio of 2.44 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 63, this industry ranks in the top 25% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.