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Monday.Com Ltd Ordinary Shares MNDY

Morningstar Rating
$243.50 −1.22 (0.50%)
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Company Report

Monday.com Earnings: Stellar Start to 2024 on Pricing Upside and Strong Enterprise Momentum

We raised our fair value estimate for no-moat Monday.com to $220 per share from $200 following the release of strong first-quarter fiscal 2024 results, which surpassed our above-guidance revenue and profitability expectations. The robust results reflect promising demand for the nascent work management software niche and illustrate the value add of Monday’s offering. On reassessing the firm’s outlook, we now factor in higher revenue per customer growth on improved pricing, a shift upmarket, greater product attach, as well as more rapid scale-based operating leverage. Monday shares spiked a sharp 20% post the strong release but continue to screen as fairly valued on a risk adjusted basis relative to our updated valuation.

Price vs Fair Value

MNDY is trading at a 726% premium.
Price
$243.50
Fair Value
$759.00
Uncertainty
Very High
1-Star Price
$765.00
5-Star Price
$321.00
Economic Moat
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Capital Allocation
Lphwwgyr

Bulls Say, Bears Say

Bulls

Monday has achieved strong traction in the sticky enterprise market and is well placed to capitalize on existing relationships by upgrading users to higher value plans and converting free users.

Bears

The collaborative work management software market is fragmented and fiercely competitive, elevating pressure on Monday to invest in product innovation.

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News

Trading Information

Previous Close Price
$244.72
Day Range
$241.55246.23
52-Week Range
$122.13249.00
Bid/Ask
$238.19 / $247.50
Market Cap
$11.91 Bil
Volume/Avg
695,112 / 840,968

Key Statistics

Price/Earnings (Normalized)
131.72
Price/Sales
15.52
Dividend Yield (Trailing)
Dividend Yield (Forward)
Total Yield

Company Profile

Monday.com is a provider of work management software delivered via a cloud-based software-as-a-service model. The firm’s solutions offer flexible and highly customizable tools to digitize business processes across countless use cases. Monday’s offering supports workflow management across departments, real-time visibility and accountability, and automation capabilities. Monday also offers prepackaged CRM and DevOps management solutions, in addition to standalone survey and digital whiteboard tools. As of 2023, Monday served over 225,000 customers in more than 200 countries.
Sector
Technology
Industry
Software - Application
Stock Style Box
Mid Growth
Total Number of Employees
1,854

Competitors

Valuation

Metric
MNDY
MSFT
SMAR
Price/Earnings (Normalized)
131.7236.9749.59
Price/Book Value
14.0912.549.41
Price/Sales
15.5213.485.85
Price/Cash Flow
91.0328.6629.85
Price/Earnings
MNDY
MSFT
SMAR

Financial Strength

Metric
MNDY
MSFT
SMAR
Quick Ratio
2.521.021.25
Current Ratio
2.621.221.34
Interest Coverage
41.49
Quick Ratio
MNDY
MSFT
SMAR

Profitability

Metric
MNDY
MSFT
SMAR
Return on Assets (Normalized)
9.78%19.65%9.86%
Return on Equity (Normalized)
15.51%38.71%21.66%
Return on Invested Capital (Normalized)
9.84%28.79%16.17%
Return on Assets
MNDY
MSFT
SMAR
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