Monday.com (MNDY) reported fourth-quarter earnings and revenue that topped estimates. The software maker’s guidance for MNDY stock merely met expectations, sending Monday stock down.
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Monday earnings were released before the market open on Monday. For the quarter ending Dec. 31, the maker of project management software reported a profit of 65 cents a share on an adjusted basis, up 48% from a year earlier. Revenue rose 35% to $202.6 million.
Analysts had predicted adjusted profit of 32 cents on revenue of $198 million.
MNDY Stock: Revenue Outlook Meets Views
For the current quarter ending in March, Monday.com predicted revenue of $209 million, in line with estimates.
On the stock market today, MNDY stock tumbled 10% to near 212. Heading into the earnings report, Monday.com stock had climbed 25% in 2024. Shares hit a two-year high last week.
MNDY stock holds a Relative Strength Rating of 96 out of a best-possible 99, according to IBD Stock Check-up.
Monday.com competes with Asana (ASAN), Smartsheet (SMAR), Atlassian (TEAM) and Microsoft (MSFT), among others.
Founded in 2012, Monday.com raised $574 million in its June 2021 initial public offering, with MNDY stock priced at 155.
Follow Reinhardt Krause on X, formerly called Twitter, @reinhardtk_tech for updates on artificial intelligence, cybersecurity and cloud computing.
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