MNDY - Monday.com Stock Deserves a Second Look as the Fed Signals an Interest Rate Hike Slowdown
Shares of Monday.com (NASDAQ: MNDY) have not been spared by the bear market of 2022. The stock has fallen 65% this year, getting little reprieve even as the adaptable software platform continues to put up blistering growth.
With interest rates on the rise (which lowers the present value of stocks ), investors have become hyperfocused on profitability. Monday.com doesn't generate profits right now, at least not without a few adjustments. But after getting a big reset, this software company is worth another look as the U.S. Federal Reserve has begun to hint that interest rate hikes could start to slow going forward.
Monday.com provides flexible business and customer relationship management software that can be customized by just about anyone -- even those without knowledge of how to code. When it had its IPO in 2021, the company made headlines for its triple-digit percentage growth, as well as drawing sizable investments from cloud software peers Salesforce (which is also a competitor to Monday.com) and Zoom Video Communications .
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Monday.com Stock Deserves a Second Look as the Fed Signals an Interest Rate Hike Slowdown