monday.com (NASDAQ:MNDY) Releases Earnings Results, Beats Estimates By $0.24 EPS

monday.com (NASDAQ:MNDY) announced its earnings results on Monday. The company reported $0.85 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.24, Briefing.com reports. The company had revenue of $251.00 million for the quarter, compared to analyst estimates of $246.17 million. monday.com had a return on equity of 4.74% and a net margin of 4.88%. monday.com’s revenue for the quarter was up 49.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.15 earnings per share. monday.com updated its FY 2024 guidance to EPS and its Q4 2024 guidance to EPS.

monday.com Stock Performance

Shares of NASDAQ:MNDY traded down $14.62 during midday trading on Tuesday, hitting $260.59. The company’s stock had a trading volume of 2,117,804 shares, compared to its average volume of 717,034. monday.com has a fifty-two week low of $150.10 and a fifty-two week high of $324.99. The stock has a market capitalization of $12.58 billion, a price-to-earnings ratio of 339.61, a PEG ratio of 15.22 and a beta of 1.31. The stock’s 50 day simple moving average is $279.07 and its 200 day simple moving average is $246.86.

Analyst Upgrades and Downgrades

Several brokerages have commented on MNDY. Tigress Financial raised their target price on shares of monday.com from $280.00 to $340.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. TD Cowen lifted their price objective on shares of monday.com from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Citigroup raised their target price on monday.com from $296.00 to $327.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Oppenheimer raised their price objective on monday.com from $275.00 to $325.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Finally, Capital One Financial started coverage on shares of monday.com in a report on Thursday, October 10th. They set an “overweight” rating and a $325.00 price target for the company. Five equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $310.10.

About monday.com

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, the United Kingdom, and internationally. The company provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools.