These Analysts Boost Their Forecasts On Monday.com Following Upbeat Earnings
Portfolio Pulse from Lisa Levin
Monday.com (NASDAQ:MNDY) exceeded Q3 earnings expectations with an adjusted EPS of 64 cents, surpassing estimates of 20 cents. Revenue was $189.19 million, above the forecast of $182.36 million. The company provided strong Q4 and FY23 revenue guidance, leading to a 5.8% stock increase. Following the earnings report, Keybanc and UBS raised their price targets for MNDY, with Keybanc maintaining an Overweight rating and UBS a Neutral rating.
November 14, 2023 | 7:21 pm
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POSITIVE IMPACT
Monday.com reported strong Q3 earnings and positive future revenue guidance, leading to a 5.8% stock increase and raised price targets from Keybanc and UBS.
The positive earnings report and raised guidance typically lead to increased investor confidence and stock price appreciation in the short term. The subsequent price target increases by Keybanc and UBS further support the bullish sentiment.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100