MongoDB (MDB) Exceeds Market Returns: Some Facts to Consider

MongoDB (MDB) closed at $330.01 in the latest trading session, marking a +1.51% move from the prior day. The stock outperformed the S&P 500, which registered a daily gain of 0.58%. Meanwhile, the Dow gained 0.31%, and the Nasdaq, a tech-heavy index, added 0.89%. The database platform's stock has climbed by 3.11% in the past month, exceeding the Computer and Technology sector's loss of 0.5% and the S&P 500's gain of 0.16%.Analysts and investors alike will be keeping a close eye on the performance of MongoDB in its upcoming earnings disclosure. The company's upcoming EPS is projected at $0.78, signifying a 32.76% drop compared to the same quarter of the previous year. Our most recent consensus estimate is calling for quarterly revenue of $589.97 million, up 11.45% from the year-ago period. For the full year, the Zacks Consensus Estimates are projecting earnings of $3.7 per share and revenue of $2.35 billion, which would represent changes of +1.09% and +17.25%, respectively, from the prior year. Additionally, investors should keep an eye on any recent revisions to analyst forecasts for MongoDB. These recent revisions tend to reflect the evolving nature of short-term business trends. Therefore, positive revisions in estimates convey analysts' confidence in the business performance and profit potential. Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system. The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has remained unchanged. As of now, MongoDB holds a Zacks Rank of #1 (Strong Buy). In the context of valuation, MongoDB is at present trading with a Forward P/E ratio of 87.98. For comparison, its industry has an average Forward P/E of 29.4, which means MongoDB is trading at a premium to the group. Meanwhile, MDB's PEG ratio is currently 5.69. 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. The Internet - Software industry currently had an average PEG ratio of 2.11 as of yesterday's close. The Internet - Software industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 62, positioning it in the top 26% of all 250+ industries. The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1. Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions. Radical New Technology Could Hand Investors Huge GainsQuantum Computing is the next technological revolution, and it could be even more advanced than AI.While some believed the technology was years away, it is already present and moving fast. Large hyperscalers, such as Microsoft, Google, Amazon, Oracle, and even Meta and Tesla, are scrambling to integrate quantum computing into their infrastructure.Senior Stock Strategist Kevin Cook reveals 7 carefully selected stocks poised to dominate the quantum computing landscape in his report, Beyond AI: The Quantum Leap in Computing Power.Kevin was among the early experts who recognized NVIDIA's enormous potential back in 2016. Now, he has keyed in on what could be "the next big thing" in quantum computing supremacy. Today, you have a rare chance to position your portfolio at the forefront of this opportunity.See Top Quantum 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 ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks