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Here's Why MongoDB (MDB) Fell More Than Broader Market
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The latest trading session saw MongoDB (MDB - Free Report) ending at $253.24, denoting a -1.44% adjustment from its last day's close. This change lagged the S&P 500's 0.2% loss on the day. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, lost 0.34%.
Heading into today, shares of the database platform had gained 1.76% over the past month, outpacing the Computer and Technology sector's gain of 0.96% and lagging the S&P 500's gain of 1.93% in that time.
Analysts and investors alike will be keeping a close eye on the performance of MongoDB in its upcoming earnings disclosure. The company's earnings report is set to go public on August 29, 2024. It is anticipated that the company will report an EPS of $0.48, marking a 48.39% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $462.92 million, indicating a 9.23% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $2.26 per share and a revenue of $1.89 billion, demonstrating changes of -32.13% and +12.59%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for MongoDB. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. MongoDB currently has a Zacks Rank of #3 (Hold).
With respect to valuation, MongoDB is currently being traded at a Forward P/E ratio of 113.75. This represents a premium compared to its industry's average Forward P/E of 29.68.
Meanwhile, MDB's PEG ratio is currently 13.45. 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. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.93.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 96, placing it within the top 38% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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Here's Why MongoDB (MDB) Fell More Than Broader Market
The latest trading session saw MongoDB (MDB - Free Report) ending at $253.24, denoting a -1.44% adjustment from its last day's close. This change lagged the S&P 500's 0.2% loss on the day. Meanwhile, the Dow lost 0.15%, and the Nasdaq, a tech-heavy index, lost 0.34%.
Heading into today, shares of the database platform had gained 1.76% over the past month, outpacing the Computer and Technology sector's gain of 0.96% and lagging the S&P 500's gain of 1.93% in that time.
Analysts and investors alike will be keeping a close eye on the performance of MongoDB in its upcoming earnings disclosure. The company's earnings report is set to go public on August 29, 2024. It is anticipated that the company will report an EPS of $0.48, marking a 48.39% fall compared to the same quarter of the previous year. In the meantime, our current consensus estimate forecasts the revenue to be $462.92 million, indicating a 9.23% growth compared to the corresponding quarter of the prior year.
For the full year, the Zacks Consensus Estimates project earnings of $2.26 per share and a revenue of $1.89 billion, demonstrating changes of -32.13% and +12.59%, respectively, from the preceding year.
It's also important for investors to be aware of any recent modifications to analyst estimates for MongoDB. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. MongoDB currently has a Zacks Rank of #3 (Hold).
With respect to valuation, MongoDB is currently being traded at a Forward P/E ratio of 113.75. This represents a premium compared to its industry's average Forward P/E of 29.68.
Meanwhile, MDB's PEG ratio is currently 13.45. 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. As of the close of trade yesterday, the Internet - Software industry held an average PEG ratio of 1.93.
The Internet - Software industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 96, placing it within the top 38% of over 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.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.