Monday.Com Reports Q3 Beat, Joins Fortrea Holdings, Henry Schein And Other Big Stocks Moving Higher On Monday
Portfolio Pulse from Lisa Levin
Monday.com Ltd. (MNDY) reported Q3 earnings that surpassed expectations, with adjusted EPS of $0.64 compared to the estimated $0.20, and sales of $189.19 million against the forecasted $182.36 million. The company expects Q4 revenue between $196 million and $198 million, and FY23 revenue between $723 million and $725 million. MNDY shares rose 9.9% to $154.03. Other stocks also moved higher, including Montauk Renewables (MNTK), TETRA Technologies (TTI), and Henry Schein (HSIC), following upgrades, partnerships, and positive earnings reports.
November 13, 2023 | 4:30 pm
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POSITIVE IMPACT
Henry Schein, Inc. shares climbed 6.2% following the release of their third-quarter results.
Positive earnings reports typically lead to a favorable investor response, which can result in a short-term uptick in the company's stock price.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Monday.com reported higher-than-expected Q3 earnings and provided strong Q4 and FY23 revenue guidance, leading to a 9.9% increase in its stock price.
The positive earnings report and future revenue guidance are significant indicators of the company's performance and are likely to instill investor confidence, potentially leading to a continued short-term increase in stock price.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Montauk Renewables shares surged 23% after an upgrade from Scotiabank to Sector Outperform with a $9 price target.
Analyst upgrades often lead to increased investor interest and can result in a short-term stock price increase, as seen with MNTK's significant jump.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
POSITIVE IMPACT
TETRA Technologies shares rose 16.6% amid news of Exxon Mobil's lithium strategy and partnership with TTI to produce lithium in Arkansas.
The partnership with Exxon Mobil for lithium production is a positive development for TTI, likely contributing to the stock's short-term rise due to the growing EV battery market.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 80