Monday.com dipped to a 202.01 low on April 7 amid the market correction. From there it built a cup with handle with a 303 buy point. On Monday it cleared the breakout price, initially in volume slightly higher than normal. Monday.com traded around 306 Monday afternoon, up nearly 3% for the day.
Additionally, Monday.com got a rating upgrade on Monday as its Relative Strength (RS) Rating climbed to 82, up from 79 the day before, breaching a key benchmark. The best growth stocks typically have an 80 or higher RS Rating as they begin their biggest price surges. As of today, Monday.com is in that club.
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Monday.com is also on the IBD Breaking Out Today list. In its most recent report Monday.com recorded an 80% jump in earnings to $1.10 per share on 20% higher revenue of $282.3 million. That was the latest in a series of outstanding earnings reports. In the prior three periods monday.com reported EPS growth of 129%, 33% and 66%.
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Israel-based Monday.com offers cloud-based platform tools to build software apps and work management programs. The company says on its website that its software tools are sold in more than 200 countries.
Among its other ratings Monday.com has a decent 80 Earnings Per Share Rating and an outstanding 97 Composite Rating. The Composite score combines five separate proprietary ratings into one. The best growth stocks have a Composite Rating of 90 or better.
Additionally it carries a best-possible A SMR Rating (sales + profit margins + return on equity) and a B Accumulation/Distribution Rating, showing that mutual funds, ETFs and other funds are fairly avid buyers.
Among Top 5 In Its Industry
Monday.com holds the No. 4 rank among its peers in the 120-stock Computer Software-Enterprise industry group. Palantir Technologies is the top-ranked stock in the group. The group itself ranks a strong No. 31 on IBD's list of 197 industries.
IBD's proprietary RS Rating measures market leadership by using a 1 (worst) to 99 (best) score that identifies how a stock's price action over the last 52 weeks matches up against the rest of the market.
This article was created automatically with Stats Perform's Wordsmith software using data and article templates supplied by Investor's Business Daily. An IBD journalist may have edited the article.
Please follow James DeTar on Twitter @JimDeTar
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