As monday.com 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
monday.com 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:
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.
There are now 586 funds reporting positions in MNDY, an increase of 80 funds or 15.81% last quarter.
Total institutional ownership decreased 1.20% last 3 months to 38.3M shares. Put/call ratio is 0.40, indicating bullish sentiment.
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%).
About Fruition:
Fruition Services is a monday.com certified integration partner. Our team of expert monday.com consultants help transform businesses with specialisation in business workflow process design, implementation and integrations with monday.com
We support clients across all industries and departments to scale and optimise inefficient business processes.
We pride ourselves on delivering world-class solutions that are scalable and cost-effective solution delivery to ensure faster time to value and return on your software investment.
How we can help:
Project Management: Large and small-scale PMO framework consulting and implementation, we have expertise in transforming internal and client project management, delivery & scheduling
Sales & CRM: Every CRM is unique, we focus on understanding your lead, quote to cash, opportunity pipeline management and integration with core systems like VoIP Telephony and Marketing tools like Hubspot Marketing, Hootsuite and many others.
Marketing: We help build a structured Marketing framework to connect your Marketing strategy and execution of campaigns to deliver measurable and reportable ROI.
Creative & Design: We help transform creative process workflows from Briefing in, traffic managing jobs, scheduling workloads, approvals and even managing your external agency collaboration.
Software Development & Product Management: We support all stages and methods of Product & software development use cases within monday.com including Ideation prioritisation, NPD, Agile project delivery, supply chain and collaborating with Marketing on GTM strategies and operations for inventory Control:
Finance Teams: Elevate financial management with our tools: Budget Planning, Expense Management, Reporting, Invoicing, Cash Flow, Compliance, Supplier Management, Forecasting, Integration, and collaboration.
HR & Recruitment: Create structure in your HR team by creating processes and workflows for onboarding and recruitment, HR Requests and email management.
Customer Service & Call Centre: monday.com allows you to manage your entire customer service workflow including Ticketing and telephone integration with tools such as Aircall, Talkdesk and Twilio
IT Operations: Do more with less such as Helpdesk ticketing, Incident management, IT Project management, Vendor/Contract Management and integrations with Jira and Azure DevOps