Why Monday.com Shares Are Trading Higher

Monday.com Ltd MNDY shares are trading higher Monday after the company reported better-than-expected financial results and issued guidance above analyst estimates. 

Monday.com said first-quarter revenue increased 84% year-over-year to $108.5 million, which beat the $101.22-million estimate, according to data from Benzinga Pro. The company reported a quarterly adjusted loss of 96 cents per share, which beat the estimate for a loss of $1.02 per share.

Monday.com said it expects second-quarter revenue to be between $117 million and $119 million versus the $110.88-million estimate. The company expects full-year 2022 revenue to be between $488 million and $492 million versus the $474.51-million estimate. 

See Also: Morning Brief: Top Financial Stories Dominating on Monday, May 16

MNDY 52-Week Range: $87.05 - $450.00

The stock was up 3.28% at $114 at press time.

Photo: courtesy of Monday.com.

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