Why Monday.com Stock Soared Today

Shares of Monday.com (NASDAQ: MNDY) surged 24% on Tuesday after the work-management software provider announced strong second-quarter results. 

Monday.com's revenue rocketed 94% year over year to $70.6 million. The gains were fueled by new customer wins and higher sales to existing clients, as evidenced by its sterling net dollar retention rate for customers with more than 10 users of over 125%.

"We are pleased with the momentum in our business that demonstrates continued high growth at scale," co-CEO Roy Mann said in a press release.

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Source Fool.com