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MongoDB (MDB) Stock Sinks As Market Gains: Here's Why
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MongoDB (MDB - Free Report) closed the most recent trading day at $410.11, moving -0.23% from the previous trading session. This move lagged the S&P 500's daily gain of 0.08%. Meanwhile, the Dow experienced a drop of 0.26%, and the technology-dominated Nasdaq saw an increase of 0.36%.
Heading into today, shares of the database platform had lost 1.4% over the past month, lagging the Computer and Technology sector's gain of 4.29% and the S&P 500's gain of 2.4% in that time.
Investors will be eagerly watching for the performance of MongoDB in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.46, signifying a 19.3% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $431.99 million, indicating a 19.56% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.90 per share and revenue of $1.66 billion. These totals would mark changes of +258.02% and +29.04%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for MongoDB. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. MongoDB presently features a Zacks Rank of #2 (Buy).
With respect to valuation, MongoDB is currently being traded at a Forward P/E ratio of 141.69. This signifies a premium in comparison to the average Forward P/E of 35.77 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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MongoDB (MDB) Stock Sinks As Market Gains: Here's Why
MongoDB (MDB - Free Report) closed the most recent trading day at $410.11, moving -0.23% from the previous trading session. This move lagged the S&P 500's daily gain of 0.08%. Meanwhile, the Dow experienced a drop of 0.26%, and the technology-dominated Nasdaq saw an increase of 0.36%.
Heading into today, shares of the database platform had lost 1.4% over the past month, lagging the Computer and Technology sector's gain of 4.29% and the S&P 500's gain of 2.4% in that time.
Investors will be eagerly watching for the performance of MongoDB in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.46, signifying a 19.3% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $431.99 million, indicating a 19.56% upward movement from the same quarter last year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $2.90 per share and revenue of $1.66 billion. These totals would mark changes of +258.02% and +29.04%, respectively, from last year.
Investors should also take note of any recent adjustments to analyst estimates for MongoDB. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable 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. The Zacks Consensus EPS estimate remained stagnant within the past month. MongoDB presently features a Zacks Rank of #2 (Buy).
With respect to valuation, MongoDB is currently being traded at a Forward P/E ratio of 141.69. This signifies a premium in comparison to the average Forward P/E of 35.77 for its industry.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 57, which puts it in the top 23% of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.