Monday.com Shares Drop 9% Despite Q4 Beat

Monday.com Shares Drop 9% Despite Q4 Beat Feb. 12, 2024, 12:02 p.m., readers: 14

Monday.com's (NASDAQ:MNDY) shares dropped more than 9% intra-day today despite the better-than-expected announcement of its fourth-quarter results. The project management software company reported earnings per share (EPS) of $0.44, beating the consensus prediction of $0.32. Its revenue was $202.6 million, exceeding expectations of $197.95 million. Additionally, monday.com saw its cash reserves grow to $1.12 billion, up 26% from the previous year, and experienced a 56% year-over-year growth in customers generating more than $50k in annual recurring revenue (ARR). The company achieved a significant improvement in its non-GAAP operating margin, reaching 8% for the year, a stark contrast to the negative 9% from the last fiscal year. For the first quarter of 2024, monday.com expects revenue to range between $207 million and $211 million, compared to the Street estimate of $208.8 million. For the entire year of 2024, the company forecasts revenue between $926 million and $932 million, compared to the Street estimate of $927.5 million.

About NASDAQ: MNDY

m onday.com Ltd., together with its subsidiaries, develops software applications in the United States, Europe, the Middle East, Africa, and internationally. It provides Work OS, a cloud-based visual work operating system that consists of modular building blocks used and assembled to create software applications and work management tools. The company also offers product solutions for marketing, CRM, project management, software development, and other fields; and business development, presale, and customer success services.

Price: 187.92
Market cap: 9.2 billion USD
Eps: -0.04
P/e ratio: -4698.00
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