MNDY - 1 Small Software Stock Is Obliterating Market Expectations -- Is It Too Late to Buy?
2023-11-17 05:10:00 ET
While big integrated technology giants are back in earnings growth mode, cloud software companies -- especially small ones -- have remained in defensive mode in 2023 . But not all of them. Monday.com (NASDAQ: MNDY) has been an exception. The company dropped yet another excellent quarterly earnings report on Monday morning, keeping the stock in the rally it's been enjoying for most of the last year.
The stock is up over 50% in the last 12 months. Is it too late to buy?
Monday.com is a small software company, but it's made a name for itself within its competitive industry with highly customizable software that can be used for everything from customer and sales management to project management. But as interest rates have risen in the last year from the U.S. Federal Reserve's fight against inflation, business spending has slowed, and Monday.com quickly pivoted to what investors want to see most from their small software stocks. Right now, that's not just sales growth but a balance of growth and profitability.
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1 Small Software Stock Is Obliterating Market Expectations -- Is It Too Late to Buy?