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Monday.com (MNDY) Surpasses Market Returns: Some Facts Worth Knowing
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Monday.com (MNDY - Free Report) closed the latest trading day at $195.63, indicating a +1.34% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 1.23%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 1.7%.
Heading into today, shares of the project management software developer had gained 2.61% over the past month, outpacing the Computer and Technology sector's gain of 1.98% and the S&P 500's gain of 0.94% in that time.
Market participants will be closely following the financial results of Monday.com in its upcoming release. On that day, Monday.com is projected to report earnings of $0.30 per share, which would represent a year-over-year decline of 31.82%. At the same time, our most recent consensus estimate is projecting a revenue of $198.29 million, reflecting a 32.27% rise from the equivalent quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Monday.com. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Monday.com possesses a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Monday.com is currently exchanging hands at a Forward P/E ratio of 111.68. Its industry sports an average Forward P/E of 33.82, so one might conclude that Monday.com is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 53, finds itself in the top 22% echelons 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Monday.com (MNDY) Surpasses Market Returns: Some Facts Worth Knowing
Monday.com (MNDY - Free Report) closed the latest trading day at $195.63, indicating a +1.34% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily gain of 1.23%. Elsewhere, the Dow gained 1.06%, while the tech-heavy Nasdaq added 1.7%.
Heading into today, shares of the project management software developer had gained 2.61% over the past month, outpacing the Computer and Technology sector's gain of 1.98% and the S&P 500's gain of 0.94% in that time.
Market participants will be closely following the financial results of Monday.com in its upcoming release. On that day, Monday.com is projected to report earnings of $0.30 per share, which would represent a year-over-year decline of 31.82%. At the same time, our most recent consensus estimate is projecting a revenue of $198.29 million, reflecting a 32.27% rise from the equivalent quarter last year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for Monday.com. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Right now, Monday.com possesses a Zacks Rank of #1 (Strong Buy).
From a valuation perspective, Monday.com is currently exchanging hands at a Forward P/E ratio of 111.68. Its industry sports an average Forward P/E of 33.82, so one might conclude that Monday.com is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 53, finds itself in the top 22% echelons 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.