Investors interested in Computer and Technology stocks should always be looking to find the best-performing companies in the group. MongoDB (MDB) is a stock that can certainly grab the attention of many investors, but do its recent returns compare favorably to the sector as a whole? A quick glance at the company's year-to-date performance in comparison to the rest of the Computer and Technology sector should help us answer this question.
MongoDB is a member of the Computer and Technology sector. This group includes 642 individual stocks and currently holds a Zacks Sector Rank of #8. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
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).
The Zacks Consensus Estimate for MDB's full-year earnings has moved 17.54% higher within the past quarter. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Based on the most recent data, MDB has returned 71.64% so far this year. In comparison, Computer and Technology companies have returned an average of 17.97%. As we can see, MongoDB is performing better than its sector in the calendar year.
Breaking things down more, MDB is a member of the Internet - Software industry, which includes 83 individual companies and currently sits at #54 in the Zacks Industry Rank. Stocks in this group have gained about 28.84% so far this year, so MDB is performing better this group in terms of year-to-date returns.
Investors in the Computer and Technology sector will want to keep a close eye on MDB as it attempts to continue its solid performance.
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