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Monday.com (MNDY) Stock Sinks As Market Gains: Here's Why
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The most recent trading session ended with Monday.com (MNDY - Free Report) standing at $129.92, reflecting a -1.55% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.18%. Elsewhere, the Dow saw an upswing of 0.1%, while the tech-heavy Nasdaq appreciated by 0.3%.
The the stock of project management software developer has fallen by 16.81% in the past month, lagging the Computer and Technology sector's gain of 3.65% and the S&P 500's gain of 3.08%.
Market participants will be closely following the financial results of Monday.com in its upcoming release. The company plans to announce its earnings on November 13, 2023. The company's earnings per share (EPS) are projected to be $0.18, reflecting a 260% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $182.42 million, indicating a 33.26% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.91 per share and a revenue of $715.13 million, demonstrating changes of +224.66% and +37.78%, respectively, from the preceding 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.5% decrease. Monday.com is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Monday.com is presently trading at a Forward P/E ratio of 145.28. This indicates a premium in contrast to its industry's Forward P/E of 35.01.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 59, placing it within the top 24% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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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Monday.com (MNDY) Stock Sinks As Market Gains: Here's Why
The most recent trading session ended with Monday.com (MNDY - Free Report) standing at $129.92, reflecting a -1.55% shift from the previouse trading day's closing. The stock's change was less than the S&P 500's daily gain of 0.18%. Elsewhere, the Dow saw an upswing of 0.1%, while the tech-heavy Nasdaq appreciated by 0.3%.
The the stock of project management software developer has fallen by 16.81% in the past month, lagging the Computer and Technology sector's gain of 3.65% and the S&P 500's gain of 3.08%.
Market participants will be closely following the financial results of Monday.com in its upcoming release. The company plans to announce its earnings on November 13, 2023. The company's earnings per share (EPS) are projected to be $0.18, reflecting a 260% increase from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $182.42 million, indicating a 33.26% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $0.91 per share and a revenue of $715.13 million, demonstrating changes of +224.66% and +37.78%, respectively, from the preceding 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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.5% decrease. Monday.com is holding a Zacks Rank of #3 (Hold) right now.
Looking at valuation, Monday.com is presently trading at a Forward P/E ratio of 145.28. This indicates a premium in contrast to its industry's Forward P/E of 35.01.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 59, placing it within the top 24% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.