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Monday.com (MNDY) Soars 7.9%: Is Further Upside Left in the Stock?
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Monday.com (MNDY - Free Report) shares soared 7.9% in the last trading session to close at $242.49. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 18.7% loss over the past four weeks.
Monday.com is benefiting as a versatile SaaS platform offering adaptable, low-code solutions, contrasting with rigid, less user-friendly legacy providers like Salesforce and ServiceNow. Despite its high valuation, monday.com shows strong growth metrics, including a 26% CAGR in customer base and 89.65% gross margins.
This project management software developer is expected to post quarterly earnings of $0.78 per share in its upcoming report, which represents a year-over-year change of +20%. Revenues are expected to be $260.96 million, up 28.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Monday.com, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MNDY going forward to see if this recent jump can turn into more strength down the road.
Monday.com is a member of the Zacks Internet - Software industry. One other stock in the same industry, Sangoma Technologies Corporation (SANG - Free Report) , finished the last trading session 2.6% higher at $7.03. SANG has returned 12.3% over the past month.
Sangoma Technologies Corporation's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. Compared to the company's year-ago EPS, this represents a change of +70%. Sangoma Technologies Corporation currently boasts a Zacks Rank of #3 (Hold).
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Monday.com (MNDY) Soars 7.9%: Is Further Upside Left in the Stock?
Monday.com (MNDY - Free Report) shares soared 7.9% in the last trading session to close at $242.49. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock's 18.7% loss over the past four weeks.
Monday.com is benefiting as a versatile SaaS platform offering adaptable, low-code solutions, contrasting with rigid, less user-friendly legacy providers like Salesforce and ServiceNow. Despite its high valuation, monday.com shows strong growth metrics, including a 26% CAGR in customer base and 89.65% gross margins.
This project management software developer is expected to post quarterly earnings of $0.78 per share in its upcoming report, which represents a year-over-year change of +20%. Revenues are expected to be $260.96 million, up 28.8% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Monday.com, the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on MNDY going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Monday.com is a member of the Zacks Internet - Software industry. One other stock in the same industry, Sangoma Technologies Corporation (SANG - Free Report) , finished the last trading session 2.6% higher at $7.03. SANG has returned 12.3% over the past month.
Sangoma Technologies Corporation's consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.03. Compared to the company's year-ago EPS, this represents a change of +70%. Sangoma Technologies Corporation currently boasts a Zacks Rank of #3 (Hold).