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MongoDB (MDB) Outperforms Broader Market: What You Need to Know
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In the latest trading session, MongoDB (MDB - Free Report) closed at $443.31, marking a +1.47% move from the previous day. This move outpaced the S&P 500's daily gain of 0.23%. Elsewhere, the Dow gained 0.37%, while the tech-heavy Nasdaq added 0.07%.
The database platform's stock has climbed by 15.44% in the past month, exceeding the Computer and Technology sector's gain of 11.06% and the S&P 500's gain of 5.3%.
The investment community will be closely monitoring the performance of MongoDB in its forthcoming earnings report. The company is forecasted to report an EPS of $0.46, showcasing a 19.3% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $431.99 million, up 19.56% from the year-ago period.
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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.97% decrease. MongoDB is currently a Zacks Rank #4 (Sell).
Investors should also note MongoDB's current valuation metrics, including its Forward P/E ratio of 138.7. This valuation marks a premium compared to its industry's average Forward P/E of 30.98.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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) Outperforms Broader Market: What You Need to Know
In the latest trading session, MongoDB (MDB - Free Report) closed at $443.31, marking a +1.47% move from the previous day. This move outpaced the S&P 500's daily gain of 0.23%. Elsewhere, the Dow gained 0.37%, while the tech-heavy Nasdaq added 0.07%.
The database platform's stock has climbed by 15.44% in the past month, exceeding the Computer and Technology sector's gain of 11.06% and the S&P 500's gain of 5.3%.
The investment community will be closely monitoring the performance of MongoDB in its forthcoming earnings report. The company is forecasted to report an EPS of $0.46, showcasing a 19.3% downward movement from the corresponding quarter of the prior year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $431.99 million, up 19.56% from the year-ago period.
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. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 2.97% decrease. MongoDB is currently a Zacks Rank #4 (Sell).
Investors should also note MongoDB's current valuation metrics, including its Forward P/E ratio of 138.7. This valuation marks a premium compared to its industry's average Forward P/E of 30.98.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 37% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. 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.