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MongoDB (MDB) Stock Sinks As Market Gains: Here's Why
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In the latest trading session, MongoDB (MDB - Free Report) closed at $342.08, marking a -5.73% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.42%. Meanwhile, the Dow experienced a rise of 0.29%, and the technology-dominated Nasdaq saw an increase of 0.29%.
The stock of database platform has risen by 2.39% in the past month, leading the Computer and Technology sector's gain of 0.85% and the S&P 500's gain of 2.2%.
Analysts and investors alike will be keeping a close eye on the performance of MongoDB in its upcoming earnings disclosure. In that report, analysts expect MongoDB to post earnings of $1.6 per share. This would mark year-over-year growth of 60%. Meanwhile, our latest consensus estimate is calling for revenue of $733.61 million, up 24.05% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.07 per share and a revenue of $2.94 billion, indicating changes of +22.13% and +19.26%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for MongoDB. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. MongoDB is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, MongoDB is currently exchanging hands at a Forward P/E ratio of 59.76. For comparison, its industry has an average Forward P/E of 19.73, which means MongoDB is trading at a premium to the group.
Also, we should mention that MDB has a PEG ratio of 4.9. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software was holding an average PEG ratio of 1.06 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 38% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
View the Zacks #1 Rank List
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MongoDB (MDB) Stock Sinks As Market Gains: Here's Why
In the latest trading session, MongoDB (MDB - Free Report) closed at $342.08, marking a -5.73% move from the previous day. The stock's change was less than the S&P 500's daily gain of 0.42%. Meanwhile, the Dow experienced a rise of 0.29%, and the technology-dominated Nasdaq saw an increase of 0.29%.
The stock of database platform has risen by 2.39% in the past month, leading the Computer and Technology sector's gain of 0.85% and the S&P 500's gain of 2.2%.
Analysts and investors alike will be keeping a close eye on the performance of MongoDB in its upcoming earnings disclosure. In that report, analysts expect MongoDB to post earnings of $1.6 per share. This would mark year-over-year growth of 60%. Meanwhile, our latest consensus estimate is calling for revenue of $733.61 million, up 24.05% from the prior-year quarter.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $6.07 per share and a revenue of $2.94 billion, indicating changes of +22.13% and +19.26%, respectively, from the former year.
It's also important for investors to be aware of any recent modifications to analyst estimates for MongoDB. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
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. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. MongoDB is currently sporting a Zacks Rank of #3 (Hold).
From a valuation perspective, MongoDB is currently exchanging hands at a Forward P/E ratio of 59.76. For comparison, its industry has an average Forward P/E of 19.73, which means MongoDB is trading at a premium to the group.
Also, we should mention that MDB has a PEG ratio of 4.9. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Internet - Software was holding an average PEG ratio of 1.06 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 92, finds itself in the top 38% echelons of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.