Monday.com (MNDY) Advances While Market Declines: Some Information for Investors

The most recent trading session ended with Monday.com (MNDY) standing at $229.02, reflecting a +1.72% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily loss of 0.28%. At the same time, the Dow lost 0.08%, and the tech-heavy Nasdaq lost 0.42%.

Shares of the project management software developer witnessed a gain of 4.24% over the previous month, beating the performance of the Computer and Technology sector with its gain of 3.64% and the S&P 500's gain of 2.67%.

Investors will be eagerly watching for the performance of Monday.com in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.39, showcasing a 178.57% upward movement from the corresponding quarter of the prior year. In the meantime, our current consensus estimate forecasts the revenue to be $210.33 million, indicating a 29.63% growth compared to the corresponding quarter of the prior year.

For the full year, the Zacks Consensus Estimates are projecting earnings of $1.88 per share and revenue of $933.51 million, which would represent changes of +1.62% and +27.93%, respectively, from the prior year.

Any recent changes to analyst estimates for Monday.com should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Monday.com is currently sporting a Zacks Rank of #1 (Strong Buy).

From a valuation perspective, Monday.com is currently exchanging hands at a Forward P/E ratio of 120.08. This denotes a premium relative to the industry's average Forward P/E of 30.57.

The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 37, finds itself in the top 15% echelons of all 250+ industries.

The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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