MongoDB Sees Positive Shift Amid Market Fluctuations
MongoDB (MDB) closed the latest trading session at $268.74, reflecting a gain of +1.98% from the previous day. This increase outperformed the S&P 500, which saw a minor loss of 0.03%. The Dow Jones Industrial Average fell by 0.61%, while the tech-heavy Nasdaq gained 0.56%.
Recent Performance and Sector Comparisons
In the month leading up to today’s trading, shares of MongoDB dropped by 3.35%. This decline contrasts with the Computer and Technology sector, which gained 1.65%, and the S&P 500, which experienced a 1.39% increase during the same period.
Upcoming Earnings Report Under the Microscope
Investors are keenly awaiting MongoDB’s upcoming earnings report. Analysts predict an earnings per share (EPS) of $0.69, marking a notable decrease of 28.13% from the same quarter last year. Anticipated revenue stands at $495.23 million, indicating a growth of 14.39% compared to the previous year.
Annual Earnings Forecast and Analyst Sentiment
For the entire fiscal year, Zacks Consensus Estimates project earnings of $2.43 per share alongside a revenue forecast of $1.93 billion. This suggests decreases of 27.03% in earnings and a revenue increase of 14.48% from last year. Investors should pay attention to any recent analyst estimate adjustments, as these often reflect short-term business trends and can influence stock performance.
Understanding Analyst Ratings and Stock Performance
Adjustments in analyst estimates are linked to the stock’s near-term performance. The Zacks Rank offers a rated system from #1 (Strong Buy) to #5 (Strong Sell) and has shown a strong historical performance. Stocks ranked #1 have delivered an average annual return of +25% since 1988. As of now, MongoDB holds a Zacks Rank of #2 (Buy), following a 2% increase in the EPS estimates over the last month.
Valuation Metrics and Industry Standing
MongoDB currently trades at a Forward P/E ratio of 108.54, significantly higher than the industry average of 32.9. Its PEG ratio stands at 10.44, compared to the Internet – Software industry’s average PEG ratio of 2.07. The broader Internet – Software industry, part of the Computer and Technology sector, holds a Zacks Industry Rank of 70, placing it within the top 28% of over 250 industries.
Long-term Outlook for MongoDB
The Zacks Industry Rank sorts sectors based on the average Zacks Rank of individual companies, indicating that firms in the top 50% have historically outperformed those in the bottom half by a factor of two to one. For updates on MongoDB, investors are encouraged to visit Zacks.com.
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MongoDB, Inc. (MDB): Free Stock Analysis Report.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
