The hotter AI gets, the rougher it is for SaaS—monday.com reports before the market opens Monday, and consensus expects its earnings per share to rise by more than 20%.
monday.com ($MNDY) will report its Q3 2026 results before the U.S. market opens on Monday, November 9. Its earnings call is at 8:30 a.m. Eastern Time (9:30 p.m. Beijing Time).
Consensus EPS is around $1.41–$1.43, up from $1.16 in the same period last year, or about 22% year over year. Revenue is expected to come in at roughly $368–$369 million, up from $317 million a year ago, or about 16.5%. The company’s own guidance is for revenue of $368–$370 million, essentially in line with consensus.
Its results last quarter were solid: EPS of $1.48 beat the $1.11 consensus, while revenue of $365 million topped expectations of $356 million. It has beaten the EPS consensus in 7 of the past 8 quarters, with an average beat of about 23.6% over the past 4 quarters. Zacks’ ESP is 0.00% and its rating is #2 Buy, so its model is not betting on an earnings beat this time.
The real focus isn’t the numbers—it’s the double-edged sword of AI. On November 3, TD Cowen downgraded the stock to Hold and cut its price target from $110 to $105, citing the risk of AI substitution. Third-quarter non-GAAP operating profit guidance is $57–$59 million, implying a margin of about 16%, while a stronger shekel could shave off another 1–2 percentage points.
The stock closed at $87.93 on November 6, down 6.3% for the day, 8% over five days, and 40.4% year to date. Its 52-week range is $57.50–$190.72, leaving it about 54% below its 52-week high.
Our view, in three scenarios: EPS above the $1.43 upper end, alongside a clear explanation on the earnings call of how its AI products generate revenue, would validate the expected 20%-plus growth and give a valuation recovery after a more than 50% decline some real footing. If results merely land within the consensus range and the AI discussion stays at the conceptual level without breaking down revenue, consider that business as usual. If results come in at the low end or full-year revenue guidance of $1.466–$1.474 billion is softened, reassess the margin for error in light of AI squeezing SaaS. Don’t chase the first move in premarket trading—wait for the earnings call to break down AI revenue.
monday.com ($MNDY) will report its Q3 2026 results before the U.S. market opens on Monday, November 9. Its earnings call is at 8:30 a.m. Eastern Time (9:30 p.m. Beijing Time).
Consensus EPS is around $1.41–$1.43, up from $1.16 in the same period last year, or about 22% year over year. Revenue is expected to come in at roughly $368–$369 million, up from $317 million a year ago, or about 16.5%. The company’s own guidance is for revenue of $368–$370 million, essentially in line with consensus.
Its results last quarter were solid: EPS of $1.48 beat the $1.11 consensus, while revenue of $365 million topped expectations of $356 million. It has beaten the EPS consensus in 7 of the past 8 quarters, with an average beat of about 23.6% over the past 4 quarters. Zacks’ ESP is 0.00% and its rating is #2 Buy, so its model is not betting on an earnings beat this time.
The real focus isn’t the numbers—it’s the double-edged sword of AI. On November 3, TD Cowen downgraded the stock to Hold and cut its price target from $110 to $105, citing the risk of AI substitution. Third-quarter non-GAAP operating profit guidance is $57–$59 million, implying a margin of about 16%, while a stronger shekel could shave off another 1–2 percentage points.
The stock closed at $87.93 on November 6, down 6.3% for the day, 8% over five days, and 40.4% year to date. Its 52-week range is $57.50–$190.72, leaving it about 54% below its 52-week high.
Our view, in three scenarios: EPS above the $1.43 upper end, alongside a clear explanation on the earnings call of how its AI products generate revenue, would validate the expected 20%-plus growth and give a valuation recovery after a more than 50% decline some real footing. If results merely land within the consensus range and the AI discussion stays at the conceptual level without breaking down revenue, consider that business as usual. If results come in at the low end or full-year revenue guidance of $1.466–$1.474 billion is softened, reassess the margin for error in light of AI squeezing SaaS. Don’t chase the first move in premarket trading—wait for the earnings call to break down AI revenue.
