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.
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.
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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