Monday.Com gains on strong annual revenue forecast

monday.com

15/05/2023 13:50

** Shares of Israel-based software publisher Monday.com Ltd
 MNDY.O  up 15.2% at $151 before the bell
    ** Company expects to post a revenue of $702 mln - $706 mln
in 2023 vs analysts' estimate of $690.7 mln, according to
Refinitiv data
    ** Expects Q2 rev to be between $168 mln - $170 mln vs
analysts' estimate of $165.6 mln
    ** On non-GAAP basis, reports a surprise Q1 profit of
$0.14/share vs analysts' estimate of a loss of $0.28/share
    ** Co's rev for the quarter was $162.3 mln vs estimate of
$155.3 mln
    ** Q1 GAAP loss narrowed to $0.31/share from $1.48/share in
Q1 2022
    ** Currently, 16 of 18 brokerages rate the stock "buy" or
higher and 2 "hold"; median PT is $170.00 - Refinitiv data
    ** Up to last close, stock has risen 7.5% YTD

 (Reporting by Sri Hari N S in Bengaluru)
 ((SriHari.NS@thomsonreuters.com;))