MongoDB (MDB) closed at $355.84 in the latest trading session, marking a -3.58% move from the prior day. The stock's performance was behind the S&P 500's daily loss of 1.17%. Elsewhere, the Dow saw a downswing of 0.53%, while the tech-heavy Nasdaq depreciated by 2.04%.
The database platform's stock has climbed by 14.64% in the past month, exceeding the Computer and Technology sector's gain of 5.49% and the S&P 500's gain of 2.12%.
The investment community will be closely monitoring the performance of MongoDB in its forthcoming earnings report. In that report, analysts expect MongoDB to post earnings of $0.78 per share. This would mark a year-over-year decline of 32.76%. Simultaneously, our latest consensus estimate expects the revenue to be $589.97 million, showing a 11.45% escalation compared to the year-ago quarter.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $3.7 per share and a revenue of $2.35 billion, representing changes of +1.09% and +22.85%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for MongoDB. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
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 past month, the Zacks Consensus EPS estimate has remained steady. As of now, MongoDB holds a Zacks Rank of #3 (Hold).
Looking at valuation, MongoDB is presently trading at a Forward P/E ratio of 99.88. This denotes a premium relative to the industry average Forward P/E of 29.38.
It is also worth noting that MDB currently has a PEG ratio of 6.46. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Internet - Software was holding an average PEG ratio of 2.04 at yesterday's closing price.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 77, this industry ranks in the top 32% of all industries, numbering over 250.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming 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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