Shares of cloud-based work management platform monday.com (NASDAQ: MNDY) soared by more than 10% in pre-market trading on Monday after the company’s adjusted earnings came in at $0.44 per share, while analysts were expecting a loss of $0.36.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
The company’s revenues soared by 57% year-over-year to $149.9 million beating estimates by $8.3 million.
Looking forward, management now expects revenue for Q1 2023 to be in the range of $154 million to $156 million, indicating a growth in the range of 42% to 44% against consensus estimates of $149.8 million while adjusted operating loss is expected to be between $19 million and $17 million.
For FY23, MNDY has projected total revenues between $688 million and $693 million, representing year-over-year growth of 33% to 34% versus analyst estimates of $660.4 million.
The company expects an FY23 adjusted operating loss between $36 million and $32 million while a negative operating margin is expected to be around 5%.
Overall, analysts are bullish about MNDY stock with a Strong Buy consensus rating based on 11 Buys and one Hold.
