MNDY - A Bull Market Is Coming -- Is It Too Late to Buy Monday.com Stock?
2023-03-16 10:30:00 ET
Shares of workflow and customer relationship management software outfit Monday.com (NASDAQ: MNDY) have soared from their November 2022 lows. Although the bear market has taken a heavy toll on the company (the stock is down 69% from its all-time high), investors have been cheering on resilient double-digit revenue growth and progress on profit margin expansion.
Nevertheless, Monday.com stock fell again following its final quarterly update for 2022. With tech stocks showing signs of heating up again, is it too late to buy Monday.com ahead of a new bull market?
Monday.com reported revenue of $150 million in Q4 2022, blowing away the estimate it provided a few months ago for as much as $142 million. The quarterly sales represented stellar year-over-year growth of 57% -- or 60% growth when excluding the negative impact of exchange rates due to a strong U.S. dollar.
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A Bull Market Is Coming -- Is It Too Late to Buy Monday.com Stock?