monday.com (NASDAQ:MNDY) Releases Quarterly Earnings Results, Beats Expectations By $0.33 EPS

monday.com (NASDAQ:MNDYGet Free Report) announced its quarterly earnings data on Monday. The company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.33, MarketWatch Earnings reports. The business had revenue of $202.60 million during the quarter, compared to the consensus estimate of $197.97 million. monday.com had a negative net margin of 2.32% and a negative return on equity of 2.39%. The firm’s quarterly revenue was up 35.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.03) earnings per share.

monday.com Stock Performance

Shares of MNDY opened at $212.01 on Tuesday. monday.com has a twelve month low of $108.35 and a twelve month high of $239.22. The company has a 50 day moving average of $195.44 and a two-hundred day moving average of $171.64.

Wall Street Analysts Forecast Growth

MNDY has been the subject of several analyst reports. DA Davidson raised shares of monday.com from a “neutral” rating to a “buy” rating and set a $170.00 price objective for the company in a research note on Tuesday, November 7th. Piper Sandler reissued an “overweight” rating and issued a $250.00 price objective on shares of monday.com in a research note on Monday, February 5th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $195.00 target price on shares of monday.com in a research report on Thursday, December 7th. Jefferies Financial Group raised shares of monday.com from a “hold” rating to a “buy” rating and raised their target price for the stock from $180.00 to $230.00 in a research report on Friday, January 5th. Finally, UBS Group raised their target price on shares of monday.com from $185.00 to $200.00 and gave the stock a “neutral” rating in a research report on Thursday, December 7th. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $204.50.

Check Out Our Latest Stock Report on monday.com

Institutional Investors Weigh In On monday.com

Institutional investors have recently bought and sold shares of the company. Quarry LP boosted its stake in monday.com by 192.0% in the first quarter. Quarry LP now owns 254 shares of the company’s stock valued at $36,000 after acquiring an additional 167 shares in the last quarter. Coppell Advisory Solutions LLC acquired a new stake in monday.com in the second quarter valued at approximately $53,000. Advisors Asset Management Inc. acquired a new stake in monday.com in the first quarter valued at approximately $52,000. Royal Bank of Canada boosted its stake in monday.com by 49.6% in the first quarter. Royal Bank of Canada now owns 347 shares of the company’s stock valued at $55,000 after acquiring an additional 115 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in monday.com by 373.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 393 shares of the company’s stock valued at $74,000 after acquiring an additional 310 shares in the last quarter. 81.30% of the stock is currently owned by institutional investors and hedge funds.

monday.com Company Profile

(Get Free Report)

monday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, and internationally. It 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.

See Also

Earnings History for monday.com (NASDAQ:MNDY)

Receive News & Ratings for monday.com Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for monday.com and related companies with MarketBeat.com's FREE daily email newsletter.