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Monday.com plunges 20% as (NASDAQ:MNDY)


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Monday.com (NASDAQ:MNDY) shares plunged on Wednesday, touching a 52-week low, after the Israeli cloud platform posted a loss during the fourth-quarter.

The Roy Mann-led software provider said it generated $95.5 million in revenue during the period, but lost an adjusted 26 cents per share. Analysts were expecting the company to generate $87.8 million in revenue, while losing an adjusted 52 cents per share.

Monday.com shares were down more than 20% to $137.14 on heavier-than-normal volume, as 3.2 million shares changed hands. For comparison purposes, the average daily volume is just over 570,000 shares.

Several other workflow management companies also saw pressure on Wednesday, as RingCentral (NYSE:RNG), Asana (NYSE:ASAN) were both down more than 15%, while Zoom (NASDAQ:ZM) fell more than 4%.

Over the past six months, monday.com shares have fallen almost 65%.

For the first-quarter, monday.com said it expects revenue to be between $100 and $102 million, with a non-GAAP operating loss between $47 million and $45 million. Analysts were expecting the company to forecast $94.09 million in sales for the first quarter.

For 2022, monday.com said it expects revenue to be between $470 million and $475 million, with a non-GAAP operating loss between $147 million and $142 million.

Earlier this month, monday.com shares also fell sharply after the company aired its first Super Bowl ad, entitled “Work Without Limits.”



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