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Monday.com (MNDY) Stock Sinks As Market Gains: Here's Why
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Monday.com (MNDY - Free Report) closed the most recent trading day at $208, moving -0.82% from the previous trading session. This move lagged the S&P 500's daily gain of 0.53%. Meanwhile, the Dow experienced a rise of 0.64%, and the technology-dominated Nasdaq saw an increase of 0.19%.
Coming into today, shares of the project management software developer had gained 10.67% in the past month. In that same time, the Computer and Technology sector gained 5.21%, while the S&P 500 gained 2.48%.
Analysts and investors alike will be keeping a close eye on the performance of Monday.com in its upcoming earnings disclosure. The company's earnings report is set to go public on February 12, 2024. The company is forecasted to report an EPS of $0.30, showcasing a 31.82% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $198.29 million, indicating a 32.27% upward movement from the same quarter last year.
Investors might also notice recent changes to analyst estimates for Monday.com. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Monday.com is currently a Zacks Rank #1 (Strong Buy).
Looking at valuation, Monday.com is presently trading at a Forward P/E ratio of 121.32. This represents a premium compared to its industry's average Forward P/E of 34.62.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 59, putting it in the top 24% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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Monday.com (MNDY) Stock Sinks As Market Gains: Here's Why
Monday.com (MNDY - Free Report) closed the most recent trading day at $208, moving -0.82% from the previous trading session. This move lagged the S&P 500's daily gain of 0.53%. Meanwhile, the Dow experienced a rise of 0.64%, and the technology-dominated Nasdaq saw an increase of 0.19%.
Coming into today, shares of the project management software developer had gained 10.67% in the past month. In that same time, the Computer and Technology sector gained 5.21%, while the S&P 500 gained 2.48%.
Analysts and investors alike will be keeping a close eye on the performance of Monday.com in its upcoming earnings disclosure. The company's earnings report is set to go public on February 12, 2024. The company is forecasted to report an EPS of $0.30, showcasing a 31.82% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $198.29 million, indicating a 32.27% upward movement from the same quarter last year.
Investors might also notice recent changes to analyst estimates for Monday.com. These revisions help to show the ever-changing nature of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 last 30 days, the Zacks Consensus EPS estimate has remained unchanged. Monday.com is currently a Zacks Rank #1 (Strong Buy).
Looking at valuation, Monday.com is presently trading at a Forward P/E ratio of 121.32. This represents a premium compared to its industry's average Forward P/E of 34.62.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 59, putting it in the top 24% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.