Monday.com Sees Surge in High-Value Customers, Driving Impressive First Quarter Earnings
Portfolio Pulse from Anusuya Lahiri
Monday.com Ltd (NASDAQ:MNDY) reported strong fiscal first-quarter 2024 earnings, with revenue growth of 34% Y/Y to $216.9 million, beating analyst estimates. The company's adjusted EPS of $0.61 also surpassed expectations. The stock price gained significantly following the results. The company saw a 48% increase in high-value customers and improved operating margins. Monday.com provided an optimistic outlook for Q2 and 2024. Investors can gain exposure via SPDR S&P Kensho New Economies Composite ETF (NYSE:KOMP) and iShares Core MSCI Total International Stock ETF (NASDAQ:IXUS).
May 15, 2024 | 1:19 pm
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POSITIVE IMPACT
Investors can gain exposure to Monday.com through the iShares Core MSCI Total International Stock ETF, which may benefit from the strong performance of Monday.com.
The strong performance of Monday.com is likely to positively impact the iShares Core MSCI Total International Stock ETF, which includes MNDY in its holdings.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Investors can gain exposure to Monday.com through the SPDR S&P Kensho New Economies Composite ETF, which may benefit from the strong performance of Monday.com.
The strong performance of Monday.com is likely to positively impact the SPDR S&P Kensho New Economies Composite ETF, which includes MNDY in its holdings.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 50
POSITIVE IMPACT
Monday.com reported strong Q1 earnings, with revenue and EPS beating analyst estimates. The company saw significant growth in high-value customers and improved operating margins. The stock price surged following the results.
The strong earnings report, beating both revenue and EPS estimates, along with significant growth in high-value customers and improved operating margins, has led to a positive market reaction, driving the stock price higher.
CONFIDENCE 100
IMPORTANCE 100
RELEVANCE 100