Monday.com (NASDAQ: MNDY) has been a bit of a laggard since its June 2021 initial public offering, with its shares increasing 19% vs. the Nasdaq Composite's gain of 28% during this period.

Meanwhile, the company has been growing by leaps and bounds. Revenue more than doubled from $308 million in 2021 to $730 million in 2023. Investors may have not been impressed by the declining growth rates in recent quarters -- down from as much as triple digits in previous years to 34% in the latest quarter.  

Yet, there are good reasons to expect Monday.com to keep growing for many years. Let's see why.

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Source Fool.com