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Why MongoDB (MDB) Dipped More Than Broader Market Today
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MongoDB (MDB - Free Report) closed the most recent trading day at $384.95, moving -2.16% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.31% for the day. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq depreciated by 1.38%.
Coming into today, shares of the database platform had gained 12.86% in the past month. In that same time, the Computer and Technology sector lost 3.14%, while the S&P 500 gained 0.87%.
The investment community will be paying close attention to the earnings performance of MongoDB in its upcoming release. In that report, analysts expect MongoDB to post earnings of $1.6 per share. This would mark year-over-year growth of 21.21%. In the meantime, our current consensus estimate forecasts the revenue to be $759.63 million, indicating a 20.9% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.5 per share and a revenue of $3.02 billion, representing changes of +30.78% and +22.65%, respectively, from the prior 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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 witnessed a 6.33% increase. As of now, MongoDB holds a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that MongoDB has a Forward P/E ratio of 60.58 right now. This indicates a premium in contrast to its industry's Forward P/E of 20.67.
It is also worth noting that MDB currently has a PEG ratio of 2.77. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. MDB's industry had an average PEG ratio of 1.21 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 87, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.
View the Zacks #1 Rank List
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Why MongoDB (MDB) Dipped More Than Broader Market Today
MongoDB (MDB - Free Report) closed the most recent trading day at $384.95, moving -2.16% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.31% for the day. Elsewhere, the Dow saw a downswing of 0.25%, while the tech-heavy Nasdaq depreciated by 1.38%.
Coming into today, shares of the database platform had gained 12.86% in the past month. In that same time, the Computer and Technology sector lost 3.14%, while the S&P 500 gained 0.87%.
The investment community will be paying close attention to the earnings performance of MongoDB in its upcoming release. In that report, analysts expect MongoDB to post earnings of $1.6 per share. This would mark year-over-year growth of 21.21%. In the meantime, our current consensus estimate forecasts the revenue to be $759.63 million, indicating a 20.9% growth compared to the corresponding quarter of the prior year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $6.5 per share and a revenue of $3.02 billion, representing changes of +30.78% and +22.65%, respectively, from the prior 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.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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 witnessed a 6.33% increase. As of now, MongoDB holds a Zacks Rank of #1 (Strong Buy).
Valuation is also important, so investors should note that MongoDB has a Forward P/E ratio of 60.58 right now. This indicates a premium in contrast to its industry's Forward P/E of 20.67.
It is also worth noting that MDB currently has a PEG ratio of 2.77. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. MDB's industry had an average PEG ratio of 1.21 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 87, positioning it in the top 36% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our 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.