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Why Monday.com (MNDY) Dipped More Than Broader Market Today
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Monday.com (MNDY - Free Report) closed at $211.94 in the latest trading session, marking a -0.99% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.32% for the day. Meanwhile, the Dow lost 0.71%, and the Nasdaq, a tech-heavy index, lost 0.2%.
Shares of the project management software developer witnessed a gain of 21.08% over the previous month, beating the performance of the Computer and Technology sector with its gain of 9.33% and the S&P 500's gain of 4.59%.
The upcoming earnings release of Monday.com will be of great interest to investors. The company's earnings report is expected on February 12, 2024. The company's upcoming EPS is projected at $0.30, signifying a 31.82% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $198.29 million, up 32.27% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Monday.com. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 past month, there's been no change in the Zacks Consensus EPS estimate. Monday.com currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note Monday.com's current valuation metrics, including its Forward P/E ratio of 123.84. This signifies a premium in comparison to the average Forward P/E of 31.21 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 80, positioning it in the top 32% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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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Why Monday.com (MNDY) Dipped More Than Broader Market Today
Monday.com (MNDY - Free Report) closed at $211.94 in the latest trading session, marking a -0.99% move from the prior day. The stock fell short of the S&P 500, which registered a loss of 0.32% for the day. Meanwhile, the Dow lost 0.71%, and the Nasdaq, a tech-heavy index, lost 0.2%.
Shares of the project management software developer witnessed a gain of 21.08% over the previous month, beating the performance of the Computer and Technology sector with its gain of 9.33% and the S&P 500's gain of 4.59%.
The upcoming earnings release of Monday.com will be of great interest to investors. The company's earnings report is expected on February 12, 2024. The company's upcoming EPS is projected at $0.30, signifying a 31.82% drop compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $198.29 million, up 32.27% from the year-ago period.
Investors should also take note of any recent adjustments to analyst estimates for Monday.com. These recent revisions tend to reflect the evolving nature of short-term business trends. 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. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 past month, there's been no change in the Zacks Consensus EPS estimate. Monday.com currently has a Zacks Rank of #1 (Strong Buy).
Investors should also note Monday.com's current valuation metrics, including its Forward P/E ratio of 123.84. This signifies a premium in comparison to the average Forward P/E of 31.21 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 80, positioning it in the top 32% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these 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.