Monday.com surges 11% after strong Q1, leads enterprise software stocks
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Shares of Israeli-based monday.com (NASDAQ:MNDY) surged more than 11% on Monday after the project management software company reported first-quarter results that topped expectations and boosted its outlook for the rest of the fiscal year.
For the period ending March 31, monday.com (MNDY) earned an adjusted 15 cents per share as revenue rose 49.6% year-over-year to $162.3M. Analysts were expecting an adjusted loss of 29 cents per share and $155.29M in sales. 
The company added that its adjusted operating margin during the period was 0%, compared to negative 40% in the year-ago period.
Looking to the second-quarter, monday.com (MNDY) expects sales to be between $168M and $170M, compared to the $165.28M that analysts were anticipating.
For the full-year, monday.com (MNDY) now expects sales to be between $702M and $706M, up between 35% and 36% year-over-year.
On back of the monday.com (MNDY) surge, shares of other enterprise software stocks rose in early trading, including Salesforce (CRM), Asana (ASAN) and Atlassian (TEAM).
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