Why did monday.com stock rise on 8 October?
Written after the close on
monday.com +6.47%
monday.com rose sharply in the last session, likely helped by renewed optimism on software names. Over the last five trading days monday.com rose clearly, outpacing a clearly higher S&P 500 while the Technology sector was roughly flat, so the gain was mostly its own. The rebound likely came as fears that artificial intelligence would disrupt traditional software business models faded, lifting beaten-down work management and software peers together, and as cooling inflation data drew attention back to enterprise software spending. Partly offsetting that, JPMorgan cut the stock to Neutral, flagging slowing new-customer growth and net dollar retention — the share of recurring revenue kept from existing customers — at 109%, which weighed on sentiment earlier in the stretch. Watch the early-November earnings report, where analysts expect revenue growth of about 16% and earnings per share of roughly $1.43.
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