On May 30, Monday.com rose 8.23% in regular trading, trading at $83.57/share, with trading volume of approximately $140 million. The rally came amid a broad systems software sector recovery.
On the news front, the systems software sector saw collective strength, with peers including ServiceNow up 14.56%, Oracle up 10.99%, CrowdStrike up 8.94%, and Microsoft up 5.31%. Monday.com had previously reported Q1 results on May 11 that beat expectations across the board — revenue of $351.3 million represented 24% year-over-year growth, exceeding the consensus estimate of $339 million, while Non-GAAP EPS came in at $0.54. The company also raised its full-year revenue guidance. However, the stock had been under pressure following the earnings release due to market concerns over AI potentially displacing traditional software platforms. The current sector-wide rebound appears to be driving valuation recovery for names that had been weighed down by such sentiment.
Separately, Tigress Financial recently lowered its price target on Monday.com from $310 to $165 while maintaining a Buy rating. The FactSet consensus average target stands at $105.65 with an overweight rating.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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