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MongoDB (MDB) Dips More Than Broader Markets: What You Should Know
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MongoDB (MDB - Free Report) closed at $213.13 in the latest trading session, marking a -1.93% move from the prior day. This change lagged the S&P 500's 0.28% loss on the day. At the same time, the Dow added 0.39%, and the tech-heavy Nasdaq lost 6.73%.
Prior to today's trading, shares of the database platform had gained 14.8% over the past month. This has outpaced the Computer and Technology sector's gain of 8.12% and the S&P 500's gain of 2.48% in that time.
Wall Street will be looking for positivity from MongoDB as it approaches its next earnings report date. This is expected to be March 8, 2023. On that day, MongoDB is projected to report earnings of $0.07 per share, which would represent year-over-year growth of 177.78%. Meanwhile, our latest consensus estimate is calling for revenue of $335.84 million, up 26.02% from the prior-year quarter.
Any recent changes to analyst estimates for MongoDB should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. MongoDB is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that MongoDB has a Forward P/E ratio of 342.93 right now. Its industry sports an average Forward P/E of 41.93, so we one might conclude that MongoDB is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 71, which puts it in the top 29% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MDB in the coming trading sessions, be sure to utilize Zacks.com.
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MongoDB (MDB) Dips More Than Broader Markets: What You Should Know
MongoDB (MDB - Free Report) closed at $213.13 in the latest trading session, marking a -1.93% move from the prior day. This change lagged the S&P 500's 0.28% loss on the day. At the same time, the Dow added 0.39%, and the tech-heavy Nasdaq lost 6.73%.
Prior to today's trading, shares of the database platform had gained 14.8% over the past month. This has outpaced the Computer and Technology sector's gain of 8.12% and the S&P 500's gain of 2.48% in that time.
Wall Street will be looking for positivity from MongoDB as it approaches its next earnings report date. This is expected to be March 8, 2023. On that day, MongoDB is projected to report earnings of $0.07 per share, which would represent year-over-year growth of 177.78%. Meanwhile, our latest consensus estimate is calling for revenue of $335.84 million, up 26.02% from the prior-year quarter.
Any recent changes to analyst estimates for MongoDB should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. MongoDB is currently sporting a Zacks Rank of #2 (Buy).
Valuation is also important, so investors should note that MongoDB has a Forward P/E ratio of 342.93 right now. Its industry sports an average Forward P/E of 41.93, so we one might conclude that MongoDB is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 71, which puts it in the top 29% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MDB in the coming trading sessions, be sure to utilize Zacks.com.