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Earnings Estimates Moving Higher for Monday.com (MNDY): Time to Buy?
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Monday.com (MNDY - Free Report) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.
Analysts' growing optimism on the earnings prospects of this project management software developer is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For Monday.com, there has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year.
Current-Quarter Estimate Revisions
The company is expected to earn $0.28 per share for the current quarter, which represents a year-over-year change of -36.36%.
Over the last 30 days, the Zacks Consensus Estimate for Monday.com has increased 24.28% because five estimates have moved higher compared to no negative revisions.
Current-Year Estimate Revisions
The company is expected to earn $1.48 per share for the full year, which represents a change of +302.74% from the prior-year number.
In terms of estimate revisions, the trend for the current year also appears quite encouraging for Monday.com. Over the past month, six estimates have moved higher compared to no negative revisions, helping the consensus estimate increase 48.51%.
Favorable Zacks Rank
Thanks to promising estimate revisions, Monday.com currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom Line
Monday.com shares have added 38.4% over the past four weeks, suggesting that investors are betting on its impressive estimate revisions. So, you may consider adding it to your portfolio right away to benefit from its earnings growth prospects.
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Earnings Estimates Moving Higher for Monday.com (MNDY): Time to Buy?
Monday.com (MNDY - Free Report) could be a solid choice for investors given the company's remarkably improving earnings outlook. While the stock has been a strong performer lately, this trend might continue since analysts are still raising their earnings estimates for the company.
Analysts' growing optimism on the earnings prospects of this project management software developer is driving estimates higher, which should get reflected in its stock price. After all, empirical research shows a strong correlation between trends in earnings estimate revisions and near-term stock price movements. Our stock rating tool -- the Zacks Rank -- is principally built on this insight.
The five-grade Zacks Rank system, which ranges from a Zacks Rank #1 (Strong Buy) to a Zacks Rank #5 (Strong Sell), has an impressive externally-audited track record of outperformance, with Zacks #1 Ranked stocks generating an average annual return of +25% since 2008.
For Monday.com, there has been strong agreement among the covering analysts in raising earnings estimates, which has helped push consensus estimates considerably higher for the next quarter and full year.
Current-Quarter Estimate Revisions
The company is expected to earn $0.28 per share for the current quarter, which represents a year-over-year change of -36.36%.
Over the last 30 days, the Zacks Consensus Estimate for Monday.com has increased 24.28% because five estimates have moved higher compared to no negative revisions.
Current-Year Estimate Revisions
The company is expected to earn $1.48 per share for the full year, which represents a change of +302.74% from the prior-year number.
In terms of estimate revisions, the trend for the current year also appears quite encouraging for Monday.com. Over the past month, six estimates have moved higher compared to no negative revisions, helping the consensus estimate increase 48.51%.
Favorable Zacks Rank
Thanks to promising estimate revisions, Monday.com currently carries a Zacks Rank #1 (Strong Buy). The Zacks Rank is a tried-and-tested rating tool that helps investors effectively harness the power of earnings estimate revisions and make the right investment decision. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.
Our research shows that stocks with Zacks Rank #1 (Strong Buy) and 2 (Buy) significantly outperform the S&P 500.
Bottom Line
Monday.com shares have added 38.4% over the past four weeks, suggesting that investors are betting on its impressive estimate revisions. So, you may consider adding it to your portfolio right away to benefit from its earnings growth prospects.