MNDY - 1 Top AI Software Stock Is Soaring. Time to Buy?
2024-02-23 05:36:00 ET
Cloud software company Monday.com (NASDAQ: MNDY) delivered a great update to close out 2023, and indicated good things could be in store for 2024. Bear market or not for the cloud industry, this small platform kept growing at a fast pace, helped by the rollout of new AI products along the way.
Management is making a slight pivot, though, as it appears the bear market is now history. After the briefest of dips in the stock price, Monday.com is once again close to its high-water mark after the market downturn of 2021 and 2022. Is this aspirational AI software provider a buy?
Monday.com is still a tiny software business, especially in the grand scheme of the software industry. When you compete against titans that haul in tens of billions of dollars in a single quarter, not to mention other providers of relationship and project-management software , what's $730 million in revenue in a year?
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1 Top AI Software Stock Is Soaring. Time to Buy?