MongoDB’s Recent Performance and Upcoming Earnings: What Investors Should Know
MongoDB (MDB) finished the latest trading session at $335.40, experiencing a decline of -1.75% from the previous day’s closing price. The stock’s performance lagged behind the S&P 500’s daily increase of 0.57%. In comparison, the Dow rose by 0.28%, while the technology-focused Nasdaq grew by 0.63%.
Positive Trends Over the Last Month
Leading up to today, shares of MongoDB have appreciated by 25.42% in the past month. This growth significantly surpasses the Computer and Technology sector’s gain of 0.92% and the S&P 500’s rise of 3.15% during the same period.
Anticipated Earnings Disclosure
Investors are closely watching MongoDB’s performance in the upcoming earnings report, scheduled for December 9, 2024. Analysts predict the company will report earnings per share (EPS) of $0.69, reflecting a 28.13% decline compared to the same quarter last year. Revenue is expected to reach $495.23 million, marking a 14.39% increase from the previous year.
Yearly Projections and Analyst Predictions
For the full year, the Zacks Consensus Estimates indicate analysts are forecasting earnings of $2.43 per share and revenue of $1.93 billion. These figures would represent declines of -27.03% in earnings and an increase of +14.48% in revenue compared to last year.
Impact of Analyst Estimate Changes
Investors should consider any recent adjustments to analyst estimates for MongoDB, as these revisions often reflect changing business trends. Positive estimate changes can be a promising indicator of the company’s outlook.
The Zacks Rank: A Valuable Tool for Investors
Our research indicates that changes in estimates directly correlate with short-term stock performance. To assist investors, the Zacks Rank provides a rating system that incorporates these estimate shifts. Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank has been shown to outperform the market, with #1 rated stocks averaging an annual return of +25% since 1988. MongoDB currently holds a Zacks Rank of #3 (Hold).
Examining Valuation Metrics
As for its current valuation, MongoDB is trading at a Forward P/E ratio of 140.61, significantly above the industry average of 33.14. Additionally, the company has a PEG ratio of 13.52—this metric also accounts for the projected earnings growth rate. For context, the average PEG ratio in the industry is 2.53 as of the last market close.
Industry Standing and Future Outlook
MongoDB operates within the Internet – Software industry, part of the broader Computer and Technology sector. This industry currently ranks 35 in the Zacks Industry Rank, placing it in the top 14% of over 250 industries. Historical data shows that the top half of ranked industries tends to outperform the bottom half by a ratio of two to one.
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MongoDB, Inc. (MDB): Free Stock Analysis Report
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
