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MongoDB (MDB – Free Report) closed the most recent trading day at $363.46, moving +0.75% from the previous trading session. The stock outpaced the S&P 500’s daily gain of 0.67%. Meanwhile, the Dow gained 0.73%, and the Nasdaq, a tech-heavy index, added 0.94%.
Coming into today, shares of the database platform had lost 10.61% in the past month. In that same time, the Computer and Technology sector lost 3.27%, while the S&P 500 lost 3.8%.
MongoDB will be looking to display strength as it nears its next earnings release, which is expected to be August 31, 2023. On that day, MongoDB is projected to report earnings of $0.45 per share, which would represent year-over-year growth of 295.65%. Meanwhile, our latest consensus estimate is calling for revenue of $389.93 million, up 28.41% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $1.51 per share and revenue of $1.54 billion, which would represent changes of +86.42% and +19.78%, respectively, from the prior year.
Investors should also note any recent changes to analyst estimates for MongoDB. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company’s business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. MongoDB currently has a Zacks Rank of #3 (Hold).
Digging into valuation, MongoDB currently has a Forward P/E ratio of 239.1. Its industry sports an average Forward P/E of 36.52, so we one might conclude that MongoDB is trading at a premium comparatively.
The Internet – Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 85, putting it in the top 34% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.