monday.com (NASDAQ:MNDY) Posts Quarterly Earnings Results, Beats Expectations By $0.37 EPS

monday.com (NASDAQ:MNDY) released its quarterly earnings data on Monday. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.37, FiscalAI reports. The company had revenue of $364.62 million during the quarter, compared to analyst estimates of $355.55 million. monday.com had a net margin of 9.17% and a return on equity of 5.10%.

monday.com Stock Performance

monday.com stock opened at $93.13 on Monday. The stock has a market cap of $4.76 billion, a PE ratio of 40.49, a price-to-earnings-growth ratio of 4.66 and a beta of 1.24. The stock has a 50-day moving average of $80.75 and a two-hundred day moving average of $79.61. monday.com has a one year low of $57.50 and a one year high of $252.86.

Hedge Funds Weigh In On monday.com

Several hedge funds have recently modified their holdings of MNDY. T. Rowe Price Investment Management Inc. increased its position in shares of monday.com by 15.0% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 1,274,910 shares of the company’s stock valued at $188,126,000 after acquiring an additional 165,996 shares during the period. Renaissance Technologies LLC lifted its position in monday.com by 7.1% during the 4th quarter. Renaissance Technologies LLC now owns 1,129,090 shares of the company’s stock worth $166,609,000 after acquiring an additional 74,800 shares during the period. State Street Corp grew its stake in monday.com by 3.8% during the 4th quarter. State Street Corp now owns 688,751 shares of the company’s stock valued at $101,632,000 after purchasing an additional 25,009 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of monday.com by 4.2% in the second quarter. Alliancebernstein L.P. now owns 605,510 shares of the company’s stock valued at $190,421,000 after purchasing an additional 24,624 shares during the period. Finally, Amundi increased its holdings in shares of monday.com by 2.6% in the fourth quarter. Amundi now owns 525,013 shares of the company’s stock valued at $77,471,000 after purchasing an additional 13,515 shares during the period. Institutional investors and hedge funds own 73.70% of the company’s stock.

Analyst Upgrades and Downgrades

MNDY has been the subject of several recent research reports. Wall Street Zen upgraded shares of monday.com from a “hold” rating to a “buy” rating in a report on Sunday, July 12th. Citigroup reduced their price objective on shares of monday.com from $176.00 to $154.00 and set a “buy” rating for the company in a research note on Tuesday, May 12th. Tigress Financial lowered their target price on monday.com to $165.00 and set a “buy” rating for the company in a report on Friday, May 22nd. UBS Group dropped their target price on monday.com from $93.00 to $85.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 12th. Finally, Zacks Research lowered monday.com from a “strong-buy” rating to a “hold” rating in a research report on Friday, May 1st. Seventeen equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $126.78.

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.