top of page Stock Price Target Raised to $246.91 Post Earnings Results

Updated: Apr 3

Nasdaq headline

As grew 35% YoY in its Fourth quarter of 2023 with Q4 revenue topping $202.6 million a billion dollar 2024 year is looking likely.

The number of customers with more than $50k ARR grew 56% year over year with 225,000 paying accounts globally as the company continues to move upmarket whilst maintaining a strong hold with SMEs.

The tech camel also announced achieving a record annual non-GAAP operating margin and $55.4m in free cash flow in later quarterly earnings has seen continuous growth as it expands into being a complete business platform with product suites including CRM, Dev, Service and Work Management.

Some highlights are written by George Maybach from Fintel on behalf of the Nasdaq:

  1. The average one-year price target for MNDY stock was revised up to $246.91, an increase of 7.59% from a prior target of $229.50. This represents a potential upside of 18.82% from latest closing price of $207.80.

  2. There are now 586 funds reporting positions in MNDY, an increase of 80 funds or 15.81% last quarter.

  3. Total institutional ownership decreased 1.20% last 3 months to 38.3M shares. Put/call ratio is 0.40, indicating bullish sentiment.

  4. Top holders include Sonnipe (8.61% ownership), Price T Rowe (6.49%), T Rowe Price New Horizons Fund (4.85%), Franklin Resources (4.54%), and Voya Investment Management (3.30%).

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