Key Highlights:
- Monday.com (MNDY, Financial) shares soar 5% in premarket trade following strong financial performance.
- The company's Q1 revenue surged by 30%, exceeding expectations at $282.3 million.
- Wall Street analysts project significant upside with an average target price of $354.31.
Monday.com (MNDY) delivered impressive first-quarter results, driving its shares up by 5% in premarket trading. The company reported a stellar 30% year-over-year increase in revenue, amounting to $282.3 million. In addition, the non-GAAP earnings per share (EPS) saw an exceptional rise of over 80%, reaching $1.10, surpassing market expectations. Bolstered by these achievements, Monday.com has updated its full-year revenue forecast, now predicting it will reach up to $1.226 billion.
Wall Street Analysts Forecast
Investors have reason to remain optimistic as 23 analysts have set a one-year average price target of $354.31 for Monday.Com Ltd (MNDY, Financial). This target represents a promising upside of 27.34% from the current price of $278.24. The analysts' forecasts include a high estimate of $455.00 and a low estimate of $280.00. For a more detailed breakdown of these estimates, please visit the Monday.Com Ltd (MNDY) Forecast page.
Complementing these predictions, the consensus recommendation from 25 brokerage firms gives Monday.Com Ltd (MNDY, Financial) an average brokerage recommendation of 1.8. This rating suggests an "Outperform" status, where a rating of 1 represents a Strong Buy, and 5 indicates a Sell.
Further strengthening the investment thesis, GuruFocus estimates Monday.Com Ltd's (MNDY, Financial) one-year GF Value at $340.86. This estimate implies a potential upside of 22.51% from the current trading price of $278.24. The GF Value reflects the fair trading value of the stock, determined by the stock's historical trading multiples, past business growth, and anticipated future performance. For comprehensive data, explore the Monday.Com Ltd (MNDY) Summary page.
