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MongoDB Inc. (NASDAQ:MDB) price on Thursday, May 18, rose 0.66% above its previous day’s close as an upside momentum from buyers pushed the stock’s value to $284.38.

A look at the stock’s price movement, the level at last check in today’s session was $282.50, moving within a range at $275.23 and $285.48. The beta value (5-Year monthly) was 1.06. Turning to its 52-week performance, $390.84 and $135.15 were the 52-week high and 52-week low respectively. Overall, MDB moved 23.50% over the past month.

MongoDB Inc.’s market cap currently stands at around $19.82 billion, with investors looking forward to this quarter’s earnings report slated for May 30, 2023 – Jun 05, 2023. Analysts project the company’s earnings per share (EPS) to be $0.19, which has seen fiscal year 2024 EPS growth forecast to increase to $1.03 and about $1.53 for fiscal year 2025. Per the data, EPS growth is expected to be 27.20% for 2023 and 48.50% for the next financial year.

Analysts have a consensus estimate of $347.06 million for the company’s revenue for the quarter, with a low and high estimate of $345.17 million and $360.07 million respectively. The average forecast suggests up to a 21.60% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2024 to grow to $1.51 billion, representing a 17.40% jump on that reported in the last financial year.

Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was no upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that MDB is a 100% Buy. On the other hand, the stock is on average a 100% Buy as suggested by medium term indicators while long term indicators are putting the stock in 50% Buy category.

MDB’s current price about 16.57% and 24.61% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 73.40, while 7-day volatility ratio is 3.24% and 4.15% in the 30-day chart. Further, MongoDB Inc. (MDB) has a beta value of 1.03, and an average true range (ATR) of 10.57. Analysts have given the company’s stock an average 52-week price target of $249.05, forecast between a low of $180.00 and high of $290.00. Looking at the price targets, the low is 36.7% off recent price level in today’s trading while to achieve the yearly target high, it has to move -1.98%. Nonetheless, investors will most likely welcome a 12.09% jump to $250.00 which is the analysts’ median price.

In the market, a comparison of MongoDB Inc. (MDB) and its peers suggest the former has performed considerably stronger. Data shows MDB’s intraday price has changed 0.66% today and 15.00% over the past year. Comparatively, Progress Software Corporation (PRGS) has moved 0.69% so far today and only 21.05% in the past 12 months. Looking at another peer, we see that Pixelworks Inc. (PXLW) price has gained 0.31% on the day. However, the stock is -25.81% off its price today a year ago. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 0.58% and -0.06% respectively on the day as seen in early trades.

If we refocus on MongoDB Inc. (NASDAQ:MDB), historical trading data shows that trading volumes averaged 1.76 million over the past 10 days and 1.68 million over the past 3 months. The company’s latest data on shares outstanding shows there are 69.53 million shares.

The 2.60% of MongoDB Inc.’s shares are in the hands of company insiders while institutional holders own 92.40% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 3.74 million on Apr 27, 2023, giving us a short ratio of 2.65. The data shows that as of Apr 27, 2023 short interest in MongoDB Inc. (MDB) stood at 5.34% of shares outstanding, with shares short falling to 3.76 million registered in Mar 30, 2023. Current price change has pushed the stock 44.47% YTD, which shows the potential for further growth is there. It is this reason that could see investor optimism for the MDB stock continues to rise going into the next quarter.

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