In this comprehensive guide, we will explain you how to buy Monday.com stock through a regulated online broker. We will start by providing you with the share-buying process embraced by these brokers. The guide will then cover each step of this stock investing process and extend to cover everything you need to know before investing in the cloud computing and project management company.
By the end of this post, you will have learnt three important things. First, you will have learnt how to choose the stock brokerage that works best for you. Secondly, you will have learnt the different factors affecting MNDY stock price. These help you determine when to buy, sell, or hold the company shares. Lastly, and perhaps more importantly, you will have decided if Monday.com shares are worth buying in 2023.
How To Buy Monday.com (MNDY) Stock – Overview
Here is the near-standard share investing process embraced by the majority of online share investing platforms. It is quick and straightforward, taking only minutes on most platforms:
- Step 1: Create a share trader account – Start by finding a broker that you can afford and create a share investor account with them. Most will only ask for your basic personal information like name, address, and trading experience.
- Step 2: Verify your identity – Every regulated broker will ask that you verify your identity by sending them a copy of your government-issued identification document.
- Step 3: Deposit funds – You will then need to fund this account. Note, however, that different brokers maintain different trade and deposit minimum limits. They also support varied deposit and withdrawal methods. Take these into account when choosing a broker.
- Step 4: Buy Monday.com shares – After the funds reflect in your trader account, search for Monday.com shares on the broker’s trading platform. Choose the buy option, customize this trade, and execute the investment.
Your capital is at risk. Other fees apply.
In the following sections, we will be breaking this process down and telling you everything you need to know about Monday.com and the MNDY stock.
The Monday.com Stock Buying Guide - Reviewed
Step 1: Decide Where To Buy Monday.com Stock
The share investing process, whether you are buying Monday.com stock or not - starts with finding the best broker. But for a multinational company as popular as Monday.com, which has been listed with countless brokers, finding the best place to buy MNDY shares can be overwhelming.
To help you get started, we have identified a few factors that you must give consideration to when looking for the best Monday.com shares broker. These include:
- Fees: Compare the fees and commissions charged by different online trading platforms. These include both trading and non-trading charges. Assess the impact these will have on the profitability of your trades and only register with the most affordable platform.
- Research and tools: The ideal broker should also provide you with sufficient research, educational, trading, analysis, and risk management resources and tools.
- Security: It is important that your broker guarantees the safety and security of your funds and personal information. They should place adequate controls around the access and sharing of your personal data. Equally important, your preferred broker should insure client deposits with such agencies as FDIC in the US or FSCS in the UK.
- Account minimums: We have already mentioned that different brokers maintain different trading and deposit minimums. They also support varied deposit methods. Confirm that you can afford your preferred broker’s minimum deposit and that they support your preferred payment option before registering an account with them.
- Regulation and reputation: We advise that you only register with a highly regulated broker. They should also be of solid repute in terms of customer support and reliability.
- User-friendliness: Your broker’s onboarding process and trading interface should also be easy to use. Even with all the integrated premium trading tools, the broker platform should be easy to use.
Our analysts have vetted tens of highly regulated and reputable trading platforms that list MNDY shares, so you don’t have to. Ultimately, they settled on the following as the two best Monday.com shares brokers in 2023.
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eToro – Best for Use- Friendliness and Social/Copy trading
eToro is arguably one of the most popular online trading platforms – used by 25+ million users worldwide. But this isn’t the only reason why we consider it the best Monday.com shares broker. It makes it here because of its solid reputation and the fact that it is highly regulated.
It also makes it here because it is a multi-asset brokerage. This implies that in addition to buying Monday.com stock, you can also buy and sell thousands of other financial instruments. These include 3000+ other shares, indices, ETFs, commodities, and even crypto.
You will also want to buy MNDY shares on eToro because of its highly innovative and user-friendly trading platform. It has some of the fastest order execution speeds. It is highly navigable and integrates a broad range of highly advanced trading, analysis, and risk-management tools. It is a multi-platform brokerage, available on its proprietary web and mobile app trading platforms.
You would also appreciate eToro’s affordability. For starters, eToro is a commission-free brokerage implying that you will only pay a highly competitive and variable spread when buying Monday.com shares on the platform.
Additionally, you will only need to deposit $10 to start trading on the platform. And though it supports a wide range of payment options, it doesn’t charge a deposit processing fee. Withdrawals will, however, be charged a fixed $5 fee and the minimum you can draw from the brokerage is $30.
But even more importantly, eToro tops the list of the best Monday.com shares brokers because of its social and copy trading features. Social trading allows for smooth interactions between eToro platform users. Copy trading, on the other hand, makes it possible for everyone to earn passively on the platform. PRO investors receive a commission from eToro if they let platform users copy their trade settings. Anyone else can make money by automatically copying the trade settings of highly successful expert traders on the platform.
Your capital is at risk. Other fees apply.
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Webull – Best Commission-Free Broker for Long-Term Investors
Multiple factors help Webull feature among the best Monday.com shares brokers in the US. For starters, it is highly regulated and has a solid reputation for reliability, stellar customer support, and security of client funds and personal data. Additionally, it is a multi-asset trading platform. In addition to buying Monday.com on the platform – you can invest in 5000+ other shares (US-based and international ADRs).
Note, however, unlike eToro - which supports the sale of actual shares as well as the trade of share CFDs, Webull doesn’t support CFDs. To compensate for this, the broker supports fractional share ownership, implying that you can start buying MNDY shares on the brokerage with as little as $5.
The broker also makes it here because of its affordability. Like most other trading platforms, Webull doesn’t charge a broker commission for share investing on its platform. You will only part with a highly competitive and variable spread when buying shares here.
The broker doesn’t even have a minimum initial deposit limit. But it will only accept deposits/withdrawals in the form of ACH checks or bank transfers. And though payment processing for checks is free, bank deposits attract a fixed $8 fee, while withdrawals are charged $25.
Webull endears itself to long-term share investors in the United States because of its support for IRA investing. The IRAs are tax-advantaged retirement programs initiated by the government. You can, therefore, use your IRA savings to invest in Monday.com via Webull.
Step 2: Research Monday.com Stock
You now know where to buy Monday.com shares, but do you know what the company represents or how it works? Most brokerages will provide you with a brief about the company and a graph illustrating its historical share price performance.
In this guide, though, we will provide you with a more thorough perspective of how Monday.com is, how it works, and its current financial health. We will also break down the company’s historical share price action and tell you which factors will influence MNDY stock price moving forward.
What is Monday.com?
Monday.com is a software company that provides a cloud-based platform. This allows individuals and businesses to create and host applications, but it also is a powerful project management system. It is both a web and mobile-based platform designed to help users achieve operational efficiency by tracking projects through teamwork, automation, and integration with other third-party work apps.
The idea of a comprehensive project management system for individuals and businesses was birthed by Eran Kampf, Roy Mann, and Eran Zinman when they founded dapulse in 2012. In 2013, the team established the dapulse prototype. In 2014, dapulse was officially launched with offices in Tel Aviv and acquired its first six clients that year.
Since then, the company has recorded momentous growth. It has expanded internationally, setting up offices in North America, Europe, Asia, and even Australia. It has also expanded the range of services on offer to include a comprehensive project management tool, marketing tool, a sales CRM, workforms, canvas, as well as the app development tool and marketplace.
In addition to the rich ecosystem of products, the company was renamed Monday.com in 2017. It has also grown its workforce tremendously to exceed 1500 employees and attract 152+ clients throughout the world. We must observe that much of Monday.com’s popularity and growth came about during the pandemic. Its client numbers, for instance, grew by more than 150% between 2020 and 2021.
Monday.com Financials
Monday.com’s primary revenue source is the sale of its subscription-based cloud technology, also known as Work OS, to individuals and organizations. The company currently runs four subscription plans, and the minimum team size per subscriber is three ‘seats’ and are all billed annually.
The basic plan charges $8 per seat per month, the Standard plan is charged $10 per seat per month, the PRO plan is charged $16 per seat per month, and the Enterprise plan can be tailored to fit your organization’s needs. The individual plan is free but only allows collaboration between two people.
In 2012, the company received $1.5 million in seed funds to facilitate its launch. It carried several other seed rounds, raising $7.6 Million in 2016, $25 Million in 2017, and a further $150 Million in 2019 when it achieved Unicorn status. Three years later, the company’s value has more than quintupled, as the company had a market cap of $5.2 in January 2023.
Its annual revenue has also been on a consistent uptrend. Total annual revenue, for instance, jumped from $78 Million in 2019 to $161 Million and more than $308 Million in 2021. And for the fiscal year 2022, Monday.com is expected to bring in at least $509 Million.
Note, however, that the technology company is yet to break even. It has consistently recorded net loss totaling $92 Million in 2019, $152 in 2020, and $129 in 2021. The net loss for the first three quarters of 2022 also stood at $136 Million.
This explains why the software company is yet to distribute share dividends.
Monday.com Historical Price Performance
Monday.com went public through an IPO on 10th June 2021, when it was listed with NASDAQ. During the IPO, 3.7 million MNDY ordinary shares were availed to the public at a price of $155 per share – giving the company a market valuation of $6.78 Billion.
On their first day of trading, MNDY shares rallied by 5.8% before zooming past $200 and settling around $230 less than a week after the IPO. This was followed by a slight correction that saw it dip below $200 in the first week of July. Between July and September of the same year, Monday.com shares went embarked on its most aggressive bull run yet – which saw it sell above $400 – more than 260% above its IPO price.
Since then, however, Monday.com stock price has been on a sustained downtrend and are currently struggling to keep their head above $100. Three key factors could be attributed to the significant price drop in MNDY share price.
First is the end of the pandemic boom that favored technology stocks has dissipated. This boom could even be attributed to the aggressive price rally posted by Monday.com stock in the third quarter of 2021.
Secondly, the end of the pandemic boom ushered in a bear market that overrun the stock market throughout 2022. This resulted in the erosion of all the gains made by tech stocks throughout 2020 and 2021.
Lastly, investors are conscious of the fact that even though Monday.com’s subscriber list and total annual revenue have increased significantly, there hasn’t been a proportionate net income gain.
Factors Affecting Monday.com Share Price
Before you start acquiring Monday.com stock, it is important that you first understand the factors influencing their price action. In this section, we will tell you the factors that we believe will have the greatest influence on Monday.com’s share price in 2023 and beyond.
- Subscriber numbers: You may expect the company to continue growing its subscriber base – and thus its revenues. This might help Monday.com escape the perennial net loss territory and restore investor confidence in the software company.
- Company financials: Monday.com’s financial performance has always had a direct impact on the MNDY share price. For example, when it announced a revenue slump in the fourth quarter of 2021, MNDY shares dipped by 27.6% on that day. Therefore, increased total revenues and a positive net income would help push up MNDY share price to new highs.
- Industry performance: We have already established that Monday.com’s poor share price performance in 2022 could be attributed to the poor run recorded by the tech industry. Should it start recovering, you may expect to see it undergo an upward price correction too.
- Market performance: The extended bear market also impacted Monday.com’s share price negatively. Over the next few months, we expect MNDY share price to follow the larger stock market’s price direction.
Your capital is at risk. Other fees apply.
Step 3: Open A Share Investor Account And Buy Monday.com Stock
Want to start buying Monday.com shares today? We recommend that you follow this beginner’s guide to share investing. It teaches you how to acquire your first MNDY stock on the highly regulated eToro brokerage.
1. Open a stock broker account
From your browser, access the official eToro website or download the eToro mobile trader app on your phone’s app store. Tap the ‘Join Now’ icon on either platform and complete the user registration form that pops up.
It will seek to capture such basic information as your name and phone number, email address and country of residence, trading experience, and income source. You will also need to come up with a unique username for the account and create a strong password.
2. Verify your identity
eToro is a multi-regulated broker and will, therefore, require you to verify your identity by submitting a copy of your government-issued identity documents – such as a passport or driver’s license.
3. Deposit funds
Log in to your approved account and press the “Deposit funds” icon on the user dashboard. From the funding tab that pops up, choose one payment method and follow the prompts to fund your account with at least $10.
4. Buy Monday.com stock
Once the cash reflects in your trader account, hit the “Discover” icon on the user dashboard to see the supported assets on eToro. Choose “Stocks” and use the search button to look for Monday.com.
Click on the “BUY” option against MNDY stock and use the trading menu that pops up to customize this investment. Indicate the number of Monday.com shares you wish to buy or how much you wish to invest in the project management company. Hit the “Open Trade” button to execute this investment.
Your capital is at risk. Other fees apply.
Monday.com Stock Strengths And Weaknesses
But are Monday.com shares even worth buying in 2023? You need to answer this question before you start buying MNDY shares.
To help you arrive at this decision, we will provide you with a few reasons why you may consider investing in Monday.com. But we have also identified a few reasons why today may not be the best time to buy MNDY shares.
Reasons to Buy Monday.com Stock in 2023
- Consistent user growth: Monday.com has posted consistent subscriber growth numbers for the past few years. Some analysts argue that this will eventually help the company escape the net loss territory which would result in an MNDY stock price hike.
- Recovering market: Even if the market crashes in 2023, it will eventually recover. And with rising subscriber numbers and a recovering tech industry, we might expect an MNDY stock price rally down the road. This makes it a good long-term investment.
Reasons to Buy Monday.com Stock
- Looming recession: Monday.com lost more than 755 of its peak price as a result of the 2022 bear market. Moving forward, analysts anticipate a market crash in 2023 that would see MNDY stock price plummet further.
- Poor performance: Analysts expect Monday.com to remain unprofitable until after 2024. This says today may not be the best time to invest in Monday.com, especially for short-term investors.
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Your capital is at risk. Other fees apply.
Conclusion - How To Buy Monday.com Stock
Monday.com is a massively popular cloud-based platform and a powerful project management systems provider. It has been around since 2012, although it launched officially in 2014. During this time, it has experienced exponential growth – from less than 10 clients in 2014 to more than 152,000 at the end of 2022. It has also grown its team from just three co-founders in an office space in Tel Aviv to more than 1500 employees spread all over the world.
Monday.com went public in June 2021, and MNDY posted significant price gains in the third quarter of that year. But a combination of factors has seen Monday.com’s share price fall below its IPO price. These include an extended bear market, constant losses, and a poor performance of tech industry stocks.
Want to invest in Monday.com today? We recommend using the buying guide for eToro that we have illustrated above.
eToro – Buy Monday.com Stock Today
Your capital is at risk. Other fees apply.
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FAQs Buying Monday.com Stock
How can I buy Monday.com stock today?
Start by finding a regulated and highly reliable broker that lists Monday.com and create a share investor account with them. Fund this account and choose to buy MNDY shares.
What will Monday.com be worth in December 2023?
There are too many factors influencing Monday.com share price, which makes it impossible to determine the price direction the software stock will assume over the next few months. These include the looming economic recession, falling tech stocks, and constant net losses by the company.
Is Monday.com worth buying in 2023?
Several factors make Monday.com a not-so-good investment. The most apparent is the fact that Monday.com isn’t expected to become profitable any time soon, which will continue hurting its stock price action.