On August 14, Monday.com Ltd. rose 8.09% in regular trading, trading at $92.875/share, with turnover of approximately $89.92 million.
The rally reflects a continued rebound following the company's Q2 earnings release on August 10, which significantly beat expectations. Monday.com Ltd. reported adjusted EPS of $1.48, far exceeding the consensus estimate of $1.11, while revenue of $364.6 million topped the $355.5 million estimate. Although the stock initially fell over 9% on a softer Q3 revenue guidance of $368-$370 million versus the $372.8 million analyst expectation, the market has since re-focused on the strong underlying fundamentals.
Additional support came from UBS raising its price target on Monday.com Ltd. from $85 to $95 on August 11 while maintaining a neutral rating. Meanwhile, Cantor Fitzgerald downgraded the stock to neutral from overweight but set a $90 price target. The company maintained its full-year revenue guidance of $1.466-$1.474 billion, in line with consensus estimates of $1.47 billion.
(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.)