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MongoDB (MDB) Increases Despite Market Slip: Here's What You Need to Know

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In the latest market close, MongoDB (MDB - Free Report) reached $359.24, with a +1.63% movement compared to the previous day. This move outpaced the S&P 500's daily loss of 0.02%. Meanwhile, the Dow lost 0.21%, and the Nasdaq, a tech-heavy index, added 0.29%.

Shares of the database platform witnessed a gain of 0.4% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 1.39% and the S&P 500's gain of 1.29%.

The upcoming earnings release of MongoDB will be of great interest to investors. The company's earnings report is expected on May 30, 2024. The company's earnings per share (EPS) are projected to be $0.38, reflecting a 32.14% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $438.44 million, indicating a 19.05% upward movement from the same quarter last 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.

Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for MongoDB. Recent revisions tend to reflect the latest near-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the company's business performance and profit potential.

Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.

The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. MongoDB is currently a Zacks Rank #5 (Strong Sell).

From a valuation perspective, MongoDB is currently exchanging hands at a Forward P/E ratio of 146.67. This denotes a premium relative to the industry's average Forward P/E of 29.61.

One should further note that MDB currently holds a PEG ratio of 13.47. 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. The Internet - Software industry had an average PEG ratio of 1.62 as trading concluded yesterday.

The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 77, finds itself in the top 31% echelons 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.

Keep in mind to rely on to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.

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