MongoDB (MDB) closed at $330.01 in the latest trading session, marking a +1.51% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.58%. Meanwhile, the Dow gained 0.31%, and the Nasdaq, a tech-heavy index, added 0.89%.
The database platform's stock has climbed by 3.11% in the past month, exceeding the Computer and Technology sector's loss of 0.5% and the S&P 500's gain of 0.16%.
Analysts and investors alike will be keeping a close eye on the performance of MongoDB in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.78, signifying a 32.76% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $589.97 million, up 11.45% from the year-ago period.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.7 per share and revenue of $2.35 billion, which would represent changes of +1.09% and +17.25%, respectively, from the prior year.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for MongoDB. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, MongoDB holds a Zacks Rank of #1 (Strong Buy).
In the context of valuation, MongoDB is at present trading with a Forward P/E ratio of 87.98. For comparison, its industry has an average Forward P/E of 29.4, which means MongoDB is trading at a premium to the group.
Meanwhile, MDB's PEG ratio is currently 5.69. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Internet - Software industry currently had an average PEG ratio of 2.11 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 62, positioning it in the top 26% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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MongoDB, Inc. (MDB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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