MongoDB (MDB) Shows Positive Movement, Eyes Upcoming Earnings Report
On the latest trading day, MongoDB (MDB) saw its stock close at $268.74, reflecting a gain of +1.98%. This performance contrasted with the S&P 500, which experienced a slight dip of 0.03%. The Dow also fell by 0.61%, while the tech-centric Nasdaq climbed by 0.56%.
Over the past month, MDB shares have fallen by 3.35%, underperforming the Computer and Technology sector, which gained 1.65%, and the S&P 500, which rose by 1.39% during the same period.
Investors Eye Earnings Report and Forecast
The upcoming earnings report for MongoDB is highly anticipated by investors. Analysts predict an earnings per share (EPS) of $0.69, a significant decrease of 28.13% compared to the same period last year. Additionally, the revenue forecast stands at $495.23 million, which represents a 14.39% increase from the previous year’s quarter.
Looking at the entire fiscal year, Zacks Consensus Estimates project earnings of $2.43 per share and total revenue of $1.93 billion, reflecting year-over-year changes of -27.03% and +14.48%, respectively.
Investors should also keep an eye on any recent updates to analyst estimates for MongoDB. These changes often mirror the latest business trends and can fluctuate quickly. Positive revisions typically indicate a favorable outlook on the company’s health and profitability.
Analyst Insights and Zacks Rank
Our analysis shows a connection between these estimate changes and stock price performance in the short term. To leverage this information, we’ve implemented the Zacks Rank, a specialized model that considers these revisions and assigns a rating.
The Zacks Rank ranges from #1 (Strong Buy) to #5 (Strong Sell) and has an impressive track record of outperformance. Stocks rated #1 have yielded an average annual return of +25% since 1988. In the past 30 days, the Zacks Consensus EPS estimate for MongoDB has increased by 2%, earning it a Zacks Rank of #2 (Buy).
Performance Metrics and Valuation
Regarding valuation, MongoDB is currently trading at a Forward P/E ratio of 108.54, significantly higher than the industry average of 32.9. The company’s PEG ratio stands at 10.44, which is also elevated compared to the Internet – Software industry’s average PEG of 2.07. This ratio provides insight into the relationship between the company’s earnings growth forecast and its current valuation.
The Internet – Software industry, part of the broader Computer and Technology sector, holds a Zacks Industry Rank of 70, placing it in the top 28% of over 250 industries. Notably, industries in the top 50% often outperform those in the lower half by a ratio of 2 to 1.
Stay Updated on MongoDB’s Performance
To keep up with MongoDB’s future trading sessions and performance metrics, make sure to visit Zacks.com.
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MongoDB, Inc. (MDB): Free Stock Analysis Report
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