Why Monday.com Stock Popped in August
It benefited from a rally in software stocks late in the month.
Overview
Monday.com (NASDAQ: MNDY), a workplace production software developer that has pushed into the customer relationship management (CRM) space, saw its stock rise an impressive 16% last month. Investors didn't react well to the company's second-quarter results, but the solid performance of a notable peer known for its CRM offerings ultimately helped turn the tide.
Monday.com's quarterly results hit the headlines just before market open on Aug. 10. These revealed that the company's revenue for the period was 22% higher year over year at nearly $365 million. Net income not under generally accepted accounting principles (non-GAAP, or adjusted) also headed north, rising nearly 13% to $65.6 million, or $1.48 per diluted share.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.