com is a prominent work operating system that empowers teams to collaborate and manage projects more effectively. Through its user-friendly platform, it allows organizations to customize workflows, track progress, and streamline communication across various departments. The software is designed to enhance productivity and transparency, enabling users to visualize their tasks and deadlines using a variety of tools and templates. With a focus on adaptability and integration, Monday.com supports businesses of all sizes in building efficient processes tailored to their unique needs.
Monday.com currently trades at $234.42 per share and has shown little upside over the past six months, posting a small loss of 2.3%. The stock also fell short of the S&P 500’s 7.5% gain during that period.
The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how project management software stocks fared in Q3, starting with Smartsheet (NYSESMAR).
Let’s dig into the relative performance of Monday.com (NASDAQMNDY) and its peers as we unravel the now-completed Q3 project management software earnings season.
The end of the earnings season is always a good time to take a step back and see who shined (and who not so much). Let’s take a look at how project management software stocks fared in Q3, starting with Asana (NYSEASAN).
The post-election rally fizzled out as inflation concerns dampened hopes for rate cuts; next week investors will see if retail stocks bring holiday cheer.
Archrock and Monday.com are certainly worthy of consideration after posting impressive quarterly growth. With their earnings estimate revisions remaining higher, the rally in AROC and MNDY may continue.
Shares of project management software maker Monday.com (NASDAQMNDY)
fell 18.3% in the morning session after the company reported underwhelming third-quarter financial results, with sales in line with analysts' estimates. Similarly, revenue guidance for the next quarter was also mostly in line with expectations. Notably, the muted sales guidance for the next quarter implied revenue growth of around 28-29%, suggesting growth may be slowing.
Project management software maker Monday.com (NASDAQMNDY) reported Q3 CY2024 results exceeding the market’s revenue expectations, with sales up 32.7% year on year to $251 million. The company expects next quarter’s revenue to be around $261 million, close to analysts’ estimates. Its non-GAAP profit of $0.85 per share was also 34.6% above analysts’ consensus estimates.
