Work management platform monday.com (NASDAQ: MNDY) will be reporting earnings this Monday before market hours. Here’s what investors should know.
monday.com beat analysts’ revenue expectations last quarter, reporting revenues of $333.9 million, up 24.6% year on year. It was a slower quarter for the company, with full-year revenue guidance slightly missing analysts’ expectations and revenue guidance for next quarter slightly missing analysts’ expectations. It added 288 enterprise customers paying more than $50,000 annually to reach a total of 4,281.
Is monday.com a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting monday.com’s revenue to grow 20.1% year on year, slowing from the 30.1% increase it recorded in the same quarter last year.
The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. monday.com has a history of exceeding Wall Street’s expectations.
Looking at monday.com’s peers in the productivity software segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Atlassian delivered year-on-year revenue growth of 31.7%, beating analysts’ expectations by 5.4%, and Appian reported revenues up 21.5%, topping estimates by 5.6%. Atlassian traded up 29.6% following the results while Appian was down 5.5%.
Read our full analysis of Atlassian’s results here and Appian’s results here.
There has been positive sentiment among investors in the productivity software segment, with share prices up 26.5% on average over the last month. monday.com is up 24.2% during the same time and is heading into earnings with an average analyst price target of $122.64 (compared to the current share price of $73.05).
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