Monday.com (MNDY) Stock Moves -0.65%: What You Should Know

Monday.com (MNDY) closed the most recent trading day at $213.99, moving -0.65% from the previous trading session. The stock's performance was ahead of the S&P 500's daily loss of 1.23%. At the same time, the Dow lost 1.36%, and the tech-heavy Nasdaq lost 1.4%.

Shares of the project management software developer witnessed a loss of 4.05% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 2.32% and the S&P 500's gain of 1.61%.

Market participants will be closely following the financial results of Monday.com in its upcoming release. The company's upcoming EPS is projected at $0.39, signifying a 178.57% increase compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $210.33 million, indicating a 29.63% upward movement from the same quarter last year.

MNDY's full-year Zacks Consensus Estimates are calling for earnings of $1.88 per share and revenue of $933.51 million. These results would represent year-over-year changes of +1.62% and +27.93%, respectively.

Investors should also take note of any recent adjustments to analyst estimates for Monday.com. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.

Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Right now, Monday.com possesses a Zacks Rank of #1 (Strong Buy).

In terms of valuation, Monday.com is presently being traded at a Forward P/E ratio of 114.88. This valuation marks a premium compared to its industry's average Forward P/E of 28.87.

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 35, which puts it in the top 14% of all 250+ industries.

The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.

Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding 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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