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

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

monday.com Price Performance

NASDAQ MNDY opened at $87.93 on Monday. The stock’s 50-day simple moving average is $90.72 and its two-hundred day simple moving average is $83.05. monday.com has a twelve month low of $57.50 and a twelve month high of $190.72. The company has a market capitalization of $4.50 billion, a price-to-earnings ratio of 37.42, a PEG ratio of 1.98 and a beta of 1.06.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Weiss Ratings upgraded monday.com from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, October 15th. Morgan Stanley set a $105.00 price target on monday.com in a report on Tuesday, November 3rd. Cantor Fitzgerald cut monday.com from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $112.00 to $90.00 in a report on Monday, August 10th. Barclays downgraded monday.com from an “overweight” rating to an “equal weight” rating and set a $100.00 price target for the company. in a research report on Monday, October 12th. Finally, Wolfe Research lowered monday.com from an “outperform” rating to a “peer perform” rating in a report on Tuesday, August 11th. Twelve research analysts have rated the stock with a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $107.35.

Insider Activity

In other news, Director Aviad Eyal sold 2,000 shares of the company’s stock in a transaction dated 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 transaction, the director directly owned 203,455 shares in the company, valued at approximately $20,353,638.20. This represents a 0.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 22.30% of the company’s stock.

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.