Stock Track | monday.com Stock Plunges Despite Solid Q3 Results on Lower Q4 Guidance
Shares of monday.com Ltd. plunged over 12% in pre-market trading on Monday, despite reporting strong third-quarter results. The company's stock took a hit after it lowered its revenue guidance for the fourth quarter of 2024.For the third quarter ended September 30, 2024, monday.com reported revenue of $251 million, an increase of 33% year-over-year. The company achieved a significant milestone by surpassing $1 billion in annual recurring revenue .On the profitability front, monday.com posted no