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MongoDB (MDB) closed the most recent trading day at $278.33, moving -2% from the previous trading session. The stock fell short of the S&P 500, which registered a loss of 0.47% for the day. Elsewhere, the Dow saw a downswing of 0.31%, while the tech-heavy Nasdaq depreciated by 0.51%.
The database platform's shares have seen an increase of 21.99% over the last month, surpassing the Computer and Technology sector's loss of 0.19% and the S&P 500's gain of 1.67%.
Market participants will be closely following the financial results of MongoDB in its upcoming release. In that report, analysts expect MongoDB to post earnings of $0.64 per share. This would mark a year-over-year decline of 25.58%. Meanwhile, the latest consensus estimate predicts the revenue to be $517.57 million, indicating a 13.01% increase compared to the same quarter of the previous year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $3.03 per share and revenue of $1.98 billion, which would represent changes of -9.01% and +17.39%, respectively, from the prior year.
It's also important for investors to be aware of any recent modifications to analyst estimates for MongoDB. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
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.
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. Over the past month, the Zacks Consensus EPS estimate has shifted 3.51% upward. MongoDB is currently a Zacks Rank #2 (Buy).
With respect to valuation, MongoDB is currently being traded at a Forward P/E ratio of 93.8. For comparison, its industry has an average Forward P/E of 31.57, which means MongoDB is trading at a premium to the group.
Meanwhile, MDB's PEG ratio is currently 5.43. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Internet - Software industry currently had an average PEG ratio of 2.23 as of yesterday's close.
The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 39, which puts it in the top 16% of all 250+ industries.