tiprankstipranks
A Cheery Monday for MNDY after Robust Q4 Results
Market News

A Cheery Monday for MNDY after Robust Q4 Results

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.

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.

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles