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MongoDB (MDB) Gains As Market Dips: What You Should Know
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In the latest trading session, MongoDB (MDB - Free Report) closed at $209.97, marking a +0.21% move from the previous day. This move outpaced the S&P 500's daily loss of 0.47%. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq lost 15.51%.
Heading into today, shares of the database platform had lost 2.19% over the past month, lagging the Computer and Technology sector's loss of 1.25% and outpacing the S&P 500's loss of 2.53% in that time.
MongoDB will be looking to display strength as it nears its next earnings release, which is expected to be March 8, 2023. In that report, analysts expect MongoDB to post earnings of $0.07 per share. This would mark year-over-year growth of 177.78%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $335.84 million, up 26.02% from the year-ago period.
Any recent changes to analyst estimates for MongoDB should also be noted by investors. 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 company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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, the Zacks Consensus EPS estimate has moved 0.7% higher. MongoDB is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that MongoDB has a Forward P/E ratio of 314.48 right now. Its industry sports an average Forward P/E of 41.1, so we one might conclude that MongoDB is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MDB in the coming trading sessions, be sure to utilize Zacks.com.
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MongoDB (MDB) Gains As Market Dips: What You Should Know
In the latest trading session, MongoDB (MDB - Free Report) closed at $209.97, marking a +0.21% move from the previous day. This move outpaced the S&P 500's daily loss of 0.47%. Elsewhere, the Dow gained 0.02%, while the tech-heavy Nasdaq lost 15.51%.
Heading into today, shares of the database platform had lost 2.19% over the past month, lagging the Computer and Technology sector's loss of 1.25% and outpacing the S&P 500's loss of 2.53% in that time.
MongoDB will be looking to display strength as it nears its next earnings release, which is expected to be March 8, 2023. In that report, analysts expect MongoDB to post earnings of $0.07 per share. This would mark year-over-year growth of 177.78%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $335.84 million, up 26.02% from the year-ago period.
Any recent changes to analyst estimates for MongoDB should also be noted by investors. 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 company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an actionable 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, the Zacks Consensus EPS estimate has moved 0.7% higher. MongoDB is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that MongoDB has a Forward P/E ratio of 314.48 right now. Its industry sports an average Forward P/E of 41.1, so we one might conclude that MongoDB is trading at a premium comparatively.
The Internet - Software industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 71, putting it in the top 29% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow MDB in the coming trading sessions, be sure to utilize Zacks.com.