The latest trading session saw MongoDB (MDB) ending at $193.74, denoting a -1.1% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a gain of 0.1% for the day. At the same time, the Dow lost 0.21%, and the tech-heavy Nasdaq gained 0.72%.
The database platform's stock has climbed by 23.53% in the past month, exceeding the Computer and Technology sector's gain of 14.29% and the S&P 500's gain of 9.86%.
Market participants will be closely following the financial results of MongoDB in its upcoming release. On that day, MongoDB is projected to report earnings of $0.65 per share, which would represent year-over-year growth of 27.45%. At the same time, our most recent consensus estimate is projecting a revenue of $526.72 million, reflecting a 16.9% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $2.56 per share and a revenue of $2.26 billion, demonstrating changes of -30.05% and +12.48%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for MongoDB. These recent revisions tend to reflect the evolving nature of short-term business trends. Consequently, upward revisions in estimates express analysts' positivity towards the company's business operations and its ability to generate profits.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational 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. Over the past month, there's been a 0.85% fall in the Zacks Consensus EPS estimate. MongoDB is currently sporting a Zacks Rank of #3 (Hold).
With respect to valuation, MongoDB is currently being traded at a Forward P/E ratio of 76.67. This valuation marks a premium compared to its industry's average Forward P/E of 29.49.
It is also worth noting that MDB currently has a PEG ratio of 12.15. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. By the end of yesterday's trading, the Internet - Software industry had an average PEG ratio of 2.3.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 86, putting it in the top 35% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the 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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