monday.com (NASDAQ:MNDY) Posts Quarterly Earnings Results, Beats Expectations By $0.13 EPS

monday.com (NASDAQ:MNDY) announced its quarterly earnings data on Monday. The company reported $1.04 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.13, FiscalAI reports. The business had revenue of $333.88 million for the quarter, compared to analyst estimates of $329.71 million. monday.com had a return on equity of 5.99% and a net margin of 5.58%.

monday.com Price Performance

MNDY opened at $98.00 on Monday. The stock has a market cap of $4.98 billion, a P/E ratio of 79.67, a P/E/G ratio of 2.22 and a beta of 1.26. The stock’s 50 day moving average price is $138.72 and its 200 day moving average price is $174.19. monday.com has a 12 month low of $92.73 and a 12 month high of $342.64.

Institutional Investors Weigh In On monday.com

Several hedge funds have recently made changes to their positions in MNDY. NewEdge Advisors LLC grew its holdings in shares of monday.com by 2,120.0% during the 1st quarter. NewEdge Advisors LLC now owns 111 shares of the company’s stock valued at $27,000 after acquiring an additional 106 shares in the last quarter. American Century Companies Inc. boosted its stake in monday.com by 75.3% during the 2nd quarter. American Century Companies Inc. now owns 4,192 shares of the company’s stock valued at $1,318,000 after purchasing an additional 1,801 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of monday.com by 76.5% in the second quarter. EverSource Wealth Advisors LLC now owns 150 shares of the company’s stock worth $47,000 after acquiring an additional 65 shares during the last quarter. Cerity Partners LLC grew its position in monday.com by 28.8% in the 2nd quarter. Cerity Partners LLC now owns 2,596 shares of the company’s stock worth $816,000 after purchasing an additional 580 shares during the last quarter. Finally, WINTON GROUP Ltd acquired a new stake in monday.com during the second quarter worth about $398,000. Hedge funds and other institutional investors own 73.70% of the company’s stock.

Wall Street Analysts Forecast Growth

MNDY has been the topic of several research analyst reports. Guggenheim reiterated a “buy” rating on shares of monday.com in a report on Friday, January 16th. Bank of America dropped their price objective on monday.com from $205.00 to $195.00 and set a “neutral” rating on the stock in a report on Tuesday, November 11th. BTIG Research restated a “buy” rating and issued a $210.00 price objective on shares of monday.com in a research note on Thursday, January 15th. KeyCorp lowered their price objective on shares of monday.com from $270.00 to $220.00 and set an “overweight” rating on the stock in a research report on Thursday, January 22nd. Finally, Zacks Research raised monday.com from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, February 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $229.87.

monday.com Company Profile

monday.com is a software-as-a-service (SaaS) company that provides a cloud-based Work Operating System (Work OS) designed to help teams plan, organize and track their work. The platform offers customizable workflows that support project management, task delegation, time tracking and collaboration across departments. monday.com’s visual interface enables users to create boards, automations and dashboards to centralize information and streamline processes without requiring extensive coding knowledge.

The company’s product portfolio includes monday Work OS, which can be adapted for use cases ranging from marketing campaign management and sales pipelines to software development sprints and human resources onboarding.