Why Monday.com Stock Soared on Monday Morning
Shares of Monday.com (NASDAQ: MNDY) surged higher on Monday morning, lifted by a strong earnings report. As of 10:40 a.m ET, the stock had gained 35.2% from last Friday's closing price.
Monday.com's fourth-quarter revenues rose 32% year over year to $268 million. On the bottom line, adjusted earnings per diluted share jumped from $0.65 to $1.08. Adjusted operating margins widened from 10% to 15%. The Street's consensus estimates had pointed to earnings near $0.79 per share on revenues of roughly $261 million.
The company's cloud-based platform for project and workflow management added approximately 20,000 customers in the fourth quarter, boosting the customer count to 245,000.
Source Fool.com
