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MongoDB (MDB) closed the most recent trading day at $200.84, moving -0.99% from the previous trading session. This move was narrower than the S&P 500’s daily loss of 1.56%. At the same time, the Dow lost 1.81%, and the tech-heavy Nasdaq lost 4.66%.
Heading into today, shares of the database platform had gained 1.35% over the past month, lagging the Computer and Technology sector’s gain of 3.96% and the S&P 500’s gain of 3.82% in that time.
Wall Street will be looking for positivity from MongoDB as it approaches its next earnings report date. In that report, analysts expect MongoDB to post earnings of $0.07 per share. This would mark year-over-year growth of 177.78%. Meanwhile, our latest consensus estimate is calling for revenue of $335.84 million, up 26.02% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $0.31 per share and revenue of $1.26 billion. These totals would mark changes of +152.54% and +44.04%, respectively, from last year.
Any recent changes to analyst estimates for MongoDB should also be noted by investors. 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. MongoDB is holding a Zacks Rank of #2 (Buy) right now.
In terms of valuation, MongoDB is currently trading at a Forward P/E ratio of 665.05. This valuation marks a premium compared to its industry’s average Forward P/E of 40.95.
The Internet – Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 49, which puts it in the top 20% 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.
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