MongoDB (MDB) closed the most recent trading day at $386.89, moving -5.91% from the previous trading session. This change lagged the S&P 500's 0.53% loss on the day. On the other hand, the Dow registered a loss of 0.09%, and the technology-centric Nasdaq decreased by 1%.
Prior to today's trading, shares of the database platform had lost 2.45% lagged the Computer and Technology sector's gain of 2.62% and the S&P 500's gain of 2.06%.
The upcoming earnings release of MongoDB will be of great interest to investors. On that day, MongoDB is projected to report earnings of $1.46 per share, which would represent year-over-year growth of 14.06%. Meanwhile, our latest consensus estimate is calling for revenue of $667.61 million, up 21.74% from the prior-year quarter.
For the full year, the Zacks Consensus Estimates project earnings of $4.79 per share and a revenue of $2.44 billion, demonstrating changes of +30.87% and +21.43%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for MongoDB. These revisions typically reflect the latest short-term business trends, which can change frequently. 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 last 30 days, the Zacks Consensus EPS estimate has moved 19.78% higher. MongoDB is currently a Zacks Rank #1 (Strong Buy).
In the context of valuation, MongoDB is at present trading with a Forward P/E ratio of 85.92. This valuation marks a premium compared to its industry average Forward P/E of 23.95.
We can also see that MDB currently has a PEG ratio of 3.91. 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 had an average PEG ratio of 1.45 as trading concluded yesterday.
The Internet - Software industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 55, this industry ranks in the top 23% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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MongoDB, Inc. (MDB): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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