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MongoDB (MDB) Stock Sinks As Market Gains: What You Should Know
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In the latest trading session, MongoDB (MDB - Free Report) closed at $213.46, marking a -0.06% move from the previous day. This change lagged the S&P 500's daily gain of 0.53%. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 5.2%.
Coming into today, shares of the database platform had gained 9.45% in the past month. In that same time, the Computer and Technology sector gained 0.96%, while the S&P 500 gained 0.67%.
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.
It is also important to note the recent changes to analyst estimates for MongoDB. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. MongoDB is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note MongoDB's current valuation metrics, including its Forward P/E ratio of 337.03. For comparison, its industry has an average Forward P/E of 41.79, which means MongoDB is trading at a premium to the group.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 69, putting it in the top 28% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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MongoDB (MDB) Stock Sinks As Market Gains: What You Should Know
In the latest trading session, MongoDB (MDB - Free Report) closed at $213.46, marking a -0.06% move from the previous day. This change lagged the S&P 500's daily gain of 0.53%. Meanwhile, the Dow gained 0.33%, and the Nasdaq, a tech-heavy index, lost 5.2%.
Coming into today, shares of the database platform had gained 9.45% in the past month. In that same time, the Computer and Technology sector gained 0.96%, while the S&P 500 gained 0.67%.
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.
It is also important to note the recent changes to analyst estimates for MongoDB. 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. MongoDB is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note MongoDB's current valuation metrics, including its Forward P/E ratio of 337.03. For comparison, its industry has an average Forward P/E of 41.79, which means MongoDB is trading at a premium to the group.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 69, putting it in the top 28% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.