In the latest market close, MongoDB (MDB Quick QuoteMDB – Free Report) reached $405.51, with a -0.52% movement compared to the previous day. The stock’s change was less than the S&P 500’s daily loss of 0.2%. Meanwhile, the Dow experienced a drop of 0.18%, and the technology-dominated Nasdaq saw a decrease of 0.59%.
Shares of the database platform have appreciated by 19.09% over the course of the past month, outperforming the Computer and Technology sector’s gain of 10.56% and the S&P 500’s gain of 7.87%.
Market participants will be closely following the financial results of MongoDB in its upcoming release. The company plans to announce its earnings on December 5, 2023. The company is expected to report EPS of $0.49, up 113.04% from the prior-year quarter. Meanwhile, the latest consensus estimate predicts the revenue to be $402.75 million, indicating a 20.72% increase compared to the same quarter of the previous year.
MDB’s full-year Zacks Consensus Estimates are calling for earnings of $2.34 per share and revenue of $1.61 billion. These results would represent year-over-year changes of +188.89% and +25.06%, respectively.
Any recent changes to analyst estimates for MongoDB should also be noted by investors. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company’s business and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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.
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. The Zacks Consensus EPS estimate remained stagnant within the past month. At present, MongoDB boasts a Zacks Rank of #3 (Hold).
In terms of valuation, MongoDB is currently trading at a Forward P/E ratio of 174.36. This expresses a premium compared to the average Forward P/E of 35.92 of its industry.
The Internet – Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 43, finds itself in the top 18% echelons 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.