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On May 26, 2023, MongoDB’s stock took a hit as Guggenheim downgraded it from Neutral to Sell. This caused a significant drop of over 2.5% in pre-market trading on Friday. The downgrade was based on a recent survey that indicated a lack of potential spending rebound in the near future. Despite this setback, analysts polled by Capital IQ still give MongoDB an average rating of outperform and price targets ranging from $180 to $365. However, Guggenheim’s new price target for the company is set at $210.
MDB Technology Services Company: Positive Stock Performance and Expected Earnings Growth
MDB is a technology services company that operates in the packaged software industry. The company’s revenue growth for the last year was +46.95%, while the earnings growth for the same period was -5.89%. However, the earnings growth for this year is expected to be +27.93%, and the earnings growth for the next five years is expected to be +8.00%. The P/E ratio for MDB is NM, which means that the company is not currently profitable.
In terms of stock performance, MDB was up +2.40 or +3.69% on May 26, 2023. Other technology services companies that were up on the same day included ZM (Zoom Video Communications), FICO (Fair Isaac Corp), and ZS (Zscaler Inc).
MDB’s next reporting date is June 1, 2023, with an EPS forecast of $0.18 for the quarter. The net profit margin for MDB is -26.90%.
Overall, MDB’s stock performance on May 26, 2023, was positive, with the stock up by +3.69%. The company’s earnings growth for this year and the next five years is expected to be positive, which could lead to increased investor confidence in the company’s future prospects. However, the company’s negative net profit margin and lack of profitability may still be a cause for concern for some investors.
MongoDB Inc Stock Forecast: Analysts Predict Potential Growth in Market with 18.3% CAGR
On May 26, 2023, MongoDB Inc (MDB) stock had a median target price of $250.00, according to the 20 analysts offering 12-month price forecasts. The high estimate was $363.00, while the low estimate was $180.00. The median estimate represented a -13.26% decrease from the last price of $288.22. The current consensus among 25 polled investment analysts was to buy stock in MongoDB Inc. Investors may be interested in MongoDB Inc because of its potential for growth. The company operates in a market that is expected to grow at a compound annual growth rate of 18.3% from 2021 to 2028, according to a report by Grand View Research.