MongoDB (MDB) Outpaces Stock Market Gains: What You Should Know

The most recent trading session ended with MongoDB (MDB) standing at $284.43, reflecting a +1.67% shift from the previouse trading day's closing. The stock's performance was ahead of the S&P 500's daily gain of 0.39%. Meanwhile, the Dow lost 0.13%, and the Nasdaq, a tech-heavy index, added 0.6%.Heading into today, shares of the database platform had gained 1.54% over the past month, outpacing the Computer and Technology sector's gain of 0.59% and the S&P 500's gain of 1.06% in that time.Investors will be eagerly watching for the performance of MongoDB in its upcoming earnings disclosure. The company is predicted to post an EPS of $0.69, indicating a 28.13% decline compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $495.23 million, up 14.39% from the prior-year quarter.Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $2.43 per share and revenue of $1.93 billion, indicating changes of -27.03% and +14.48%, respectively, compared to the previous year.Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for MongoDB. These latest adjustments often mirror the shifting dynamics of short-term business patterns. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.Empirical research indicates that these revisions in estimates have a direct correlation with impending 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.76% higher within the past month. Right now, MongoDB possesses a Zacks Rank of #3 (Hold).With respect to valuation, MongoDB is currently being traded at a Forward P/E ratio of 115.24. This represents a premium compared to its industry's average Forward P/E of 30.95.We can additionally observe that MDB currently boasts a PEG ratio of 11.08. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. MDB's industry had an average PEG ratio of 2.45 as of yesterday's close.The Internet - Software industry is part of the Computer and Technology sector. This industry, currently bearing a Zacks Industry Rank of 33, finds itself in the top 14% echelons of all 250+ industries.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.Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 228 positions with double- and triple-digit gains in 2023 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report MongoDB, Inc. (MDB): Free Stock Analysis ReportTo read this article on Zacks.com click here.Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks