For those looking to find strong Computer and Technology stocks, it is prudent to search for companies in the group that are outperforming their peers. Has MongoDB (MDB) been one of those stocks this year? Let's take a closer look at the stock's year-to-date performance to find out.
MongoDB is a member of our Computer and Technology group, which includes 641 different companies and currently sits at #7 in the Zacks Sector Rank. The Zacks Sector Rank gauges the strength of our 16 individual sector groups by measuring the average Zacks Rank of the individual stocks within the groups.
The Zacks Rank is a successful stock-picking model that emphasizes earnings estimates and estimate revisions. The system highlights a number of different stocks that could be poised to outperform the broader market over the next one to three months. MDB is currently sporting a Zacks Rank of #1 (Strong Buy).
Over the past three months, the Zacks Consensus Estimate for MDB's full-year earnings has moved 16.47% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
According to our latest data, MDB has moved about 61.07% on a year-to-date basis. At the same time, Computer and Technology stocks have gained an average of 19.28%. As we can see, MongoDB is performing better than its sector in the calendar year.
Looking more specifically, MDB belongs to the Internet - Software industry, which includes 84 individual stocks and currently sits at #81 in the Zacks Industry Rank. On average, this group has gained an average of 28.88% so far this year, meaning that MDB is performing better in terms of year-to-date returns.
Investors with an interest in Computer and Technology stocks should continue to track MDB. The stock will be looking to continue its solid performance.
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MongoDB, Inc. (MDB) : Free Stock Analysis Report
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