monday.com (NASDAQ:MNDY) Posts Quarterly Earnings Results, Beats Expectations By $0.73 EPS

monday.com (NASDAQ:MNDY) issued its quarterly earnings results on Monday. The company reported $2.14 EPS for the quarter, beating the consensus estimate of $1.41 by $0.73, FiscalAI reports. monday.com had a net margin of 8.87% and a return on equity of 9.09%. The business had revenue of $377.54 million during the quarter, compared to the consensus estimate of $369.17 million.

monday.com Price Performance

Shares of MNDY stock opened at $87.93 on Monday. monday.com has a fifty-two week low of $57.50 and a fifty-two week high of $190.72. The stock’s 50-day moving average is $90.72 and its two-hundred day moving average is $83.05. The firm has a market cap of $4.50 billion, a P/E ratio of 37.42, a PEG ratio of 1.98 and a beta of 1.06.

Insider Activity

In related news, Director Aviad Eyal sold 2,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 20th. The stock was sold at an average price of $100.04, for a total value of $200,080.00. Following the completion of the sale, the director owned 203,455 shares of the company’s stock, valued at approximately $20,353,638.20. The trade was a 0.97% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 22.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MNDY. Wells Fargo & Company cut their target price on shares of monday.com from $130.00 to $120.00 and set an “overweight” rating on the stock in a research note on Tuesday, August 11th. BTIG Research reiterated a “buy” rating and set a $105.00 price target on shares of monday.com in a report on Thursday, October 29th. Piper Sandler reiterated a “neutral” rating and set a $90.00 price target on shares of monday.com in a report on Thursday, October 29th. Capital One Financial lowered monday.com from an “overweight” rating to an “equal weight” rating and set a $95.00 price target on the stock. in a research report on Monday, August 10th. Finally, JPMorgan Chase & Co. downgraded monday.com from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $90.00 to $87.00 in a research note on Tuesday, September 29th. Twelve equities research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $107.35.

About monday.com

monday.com Ltd. is a software company that provides a cloud-based platform for organizations to plan, manage and track work. Founded in 2012 as dapulse, the company adopted the monday.com name in 2017.

Its products include monday work management, monday CRM, monday dev and monday service. The platform offers tools for project and workflow management, customer relationship management, software development and service operations, with features for collaboration, automation and reporting.

Headquartered in Tel Aviv, Israel, monday.com serves customers across a range of industries and geographies.