MongoDB Set to Report Q4 Earnings Amid Bearish Trends

MongoDB Inc. MDB is scheduled to release its fourth-quarter earnings report on Wednesday. Analysts project earnings per share (EPS) of 66 cents and expected revenues of $519.60 million, with the announcement taking place after market hours.

The stock has seen a decline of 37.60% over the past year, although it has rallied by 3.31% year-to-date (YTD).

Analyzing current trends, we will examine the technical indicators for MongoDB stock and how it compares against Wall Street estimates.

Read also: MongoDB Prepares for Q4 Announcement; Forecast Updates From Top Analysts

Bearish Trends for MongoDB Stock Before Q4 Earnings Release

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Currently priced at $253.40, MongoDB stock is in a strongly bearish trend, trading below its five-day, 20-day, and 50-day exponential moving averages. Additionally, the stock is below several key simple moving averages: the eight-day at $261.47, the 20-day at $276.70, the 50-day at $262.53, and the 200-day at $270.11, all indicating continued downside pressure.

The Moving Average Convergence Divergence (MACD) indicator is at a negative 3.78, further confirming the bearish sentiment and suggesting that downward momentum persists.

Nonetheless, there are indications of slight buying pressure, as shown by the Relative Strength Index (RSI) sitting at 38.55. While still indicating bearish conditions, the RSI approaching 30 may suggest the stock is nearing oversold territory, which could cultivate a potential relief bounce.

Investors should monitor for a breakout above key moving averages, which would indicate a possible shift in momentum. In the meantime, the technical outlook remains cautious.

MongoDB Analysts Predict 29% Upside Potential

Ratings & Consensus Estimates: The consensus among analysts for MongoDB stock is a Buy rating, with a price target set at $364.68. Recent evaluations from firms like Rosenblatt, Loop Capital, and Scotiabank suggest an upside potential of approximately 28.59% for MongoDB, with a target around $325.

Current MDB Price Action: At the time of publication, MongoDB stock was trading at $253.

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