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MongoDB (MDB) Dips More Than Broader Markets: What You Should Know

Zacks Equity Research
Darden Restaurants (DRI) reported earnings 30 days ago. What's next for the stock? We take a look at earnings estimates for some clues.

MongoDB (MDB) closed at $135.20 in the latest trading session, marking a -1.55% move from the prior day. This move lagged the S&P 500's daily loss of 0.22%. At the same time, the Dow lost 0.22%, and the tech-heavy Nasdaq lost 0.23%.

Prior to today's trading, shares of the database platform had lost 8.62% over the past month. This has lagged the Computer and Technology sector's gain of 6.02% and the S&P 500's gain of 4.87% in that time.

Wall Street will be looking for positivity from MDB as it approaches its next earnings report date. In that report, analysts expect MDB to post earnings of -$0.24 per share. This would mark year-over-year growth of 44.19%. Our most recent consensus estimate is calling for quarterly revenue of $83.17 million, up 72.49% from the year-ago period.

MDB's full-year Zacks Consensus Estimates are calling for earnings of -$1.01 per share and revenue of $368.77 million. These results would represent year-over-year changes of -1% and +43.95%, respectively.

It is also important to note the recent changes to analyst estimates for MDB. 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.

Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, 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. Within the past 30 days, our consensus EPS projection remained stagnant. MDB is currently a Zacks Rank #1 (Strong Buy).

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 34, which puts it in the top 14% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our 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.

You can find more information on all of these metrics, and much more, on Zacks.com.

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