Monday.com Shares Jump 25% After Q1 Revenue Reaches $351.3 Million
Updated
Updated · MarketWatch · May 11
Monday.com Shares Jump 25% After Q1 Revenue Reaches $351.3 Million
5 articles · Updated · MarketWatch · May 11
$90.33 premarket trading put Monday.com up 25% after the software company beat Wall Street on both profit and sales in the first quarter.
Adjusted earnings came in at $1.15 a share versus analysts' 93-cent estimate, while revenue rose 24% to $351.3 million, topping the $339.1 million consensus.
Second-quarter revenue guidance of $354 million to $356 million was roughly in line with expectations, and the company set a full-year target of $1.47 billion, slightly above the $1.46 billion analyst view.
The rally follows a steep selloff: through Friday's close, Monday.com shares were still down 74% over the past 12 months.
How is Monday.com thriving while the software industry faces an AI-driven 'apocalypse'?
Will Monday.com's AI 'teammates' become so good they replace the human users its business model relies on?
Can investors trust this rally with federal lawsuits alleging the company recently misled them about growth?