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MongoDB (MDB) Stock Sinks As Market Gains: Here's Why
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MongoDB (MDB - Free Report) closed at $368.01 in the latest trading session, marking a -0.76% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.09%. Elsewhere, the Dow lost 0.49%, while the tech-heavy Nasdaq added 0.65%.
The database platform's shares have seen an increase of 13.24% over the last month, surpassing the Computer and Technology sector's gain of 7.36% and the S&P 500's gain of 5.78%.
The investment community will be closely monitoring the performance of MongoDB in its forthcoming earnings report. The company is scheduled to release its earnings on May 30, 2024. On that day, MongoDB is projected to report earnings of $0.38 per share, which would represent a year-over-year decline of 32.14%. Meanwhile, the latest consensus estimate predicts the revenue to be $438.44 million, indicating a 19.05% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.41 per share and a revenue of $1.92 billion, indicating changes of -27.63% and +14.16%, respectively, from the former year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. MongoDB is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, MongoDB is holding a Forward P/E ratio of 153.87. For comparison, its industry has an average Forward P/E of 30.53, which means MongoDB is trading at a premium to the group.
It's also important to note that MDB currently trades at a PEG ratio of 14.13. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. MDB's industry had an average PEG ratio of 1.72 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 50, placing it within the top 20% of over 250 industries.
The Zacks Industry Rank is ordered 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) Stock Sinks As Market Gains: Here's Why
MongoDB (MDB - Free Report) closed at $368.01 in the latest trading session, marking a -0.76% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.09%. Elsewhere, the Dow lost 0.49%, while the tech-heavy Nasdaq added 0.65%.
The database platform's shares have seen an increase of 13.24% over the last month, surpassing the Computer and Technology sector's gain of 7.36% and the S&P 500's gain of 5.78%.
The investment community will be closely monitoring the performance of MongoDB in its forthcoming earnings report. The company is scheduled to release its earnings on May 30, 2024. On that day, MongoDB is projected to report earnings of $0.38 per share, which would represent a year-over-year decline of 32.14%. Meanwhile, the latest consensus estimate predicts the revenue to be $438.44 million, indicating a 19.05% increase compared to the same quarter of the previous year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $2.41 per share and a revenue of $1.92 billion, indicating changes of -27.63% and +14.16%, respectively, from the former year.
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. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. MongoDB is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, MongoDB is holding a Forward P/E ratio of 153.87. For comparison, its industry has an average Forward P/E of 30.53, which means MongoDB is trading at a premium to the group.
It's also important to note that MDB currently trades at a PEG ratio of 14.13. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. MDB's industry had an average PEG ratio of 1.72 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 50, placing it within the top 20% of over 250 industries.
The Zacks Industry Rank is ordered 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.