Monday.com Stock (MNDY) Falls 14.5% in Pre-Market Trading
Monday.com Stock (MNDY) experienced a significant decline, falling 14.5% in pre-market trading, following the announcement of its fourth-quarter results. The company’s revenue guidance for the next year suggested a slowdown in growth, with FY’2024 revenue growth projected at 27.5%, compared to 41% in 2023. Additionally, operating income guidance for the same period was below expectations. Despite these challenges, including economic and geopolitical factors, management expressed confidence in their ability to maintain momentum into FY24 and beyond, focusing on driving top-line growth and building market share.
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