monday.com (NASDAQ:MNDY) Posts Quarterly Earnings Results, Beats Estimates By $0.24 EPS

monday.com (NASDAQ:MNDY) posted its earnings results on Monday. The company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.24, Briefing.com reports. The firm had revenue of $251.00 million during the quarter, compared to analysts’ expectations of $246.17 million. monday.com had a net margin of 2.39% and a return on equity of 5.15%. The business’s revenue was up 49.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.15 EPS. monday.com updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

monday.com Price Performance

MNDY traded up $8.57 during trading hours on Wednesday, hitting $269.16. 1,741,071 shares of the stock were exchanged, compared to its average volume of 722,211. The stock has a 50-day simple moving average of $279.27 and a 200-day simple moving average of $247.35. monday.com has a 12 month low of $159.22 and a 12 month high of $324.99. The stock has a market cap of $13.00 billion, a price-to-earnings ratio of 661.66, a price-to-earnings-growth ratio of 12.15 and a beta of 1.31.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MNDY. Wells Fargo & Company upped their target price on shares of monday.com from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Robert W. Baird increased their price target on shares of monday.com from $265.00 to $270.00 and gave the stock a “neutral” rating in a research report on Tuesday. Loop Capital raised their price objective on shares of monday.com from $285.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Baird R W upgraded shares of monday.com to a “hold” rating in a research report on Tuesday, July 23rd. Finally, Bank of America raised their target price on monday.com from $280.00 to $300.00 and gave the company a “buy” rating in a report on Tuesday, August 13th. Five analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $310.10.

monday.com Company Profile

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.