Investors focused on the Computer and Technology space have likely heard of MongoDB (MDB), but is the stock performing well in comparison to the rest of its sector peers? 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 one of 640 companies in the Computer and Technology group. The Computer and Technology group currently sits at #4 within the Zacks Sector Rank. 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 proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. MDB is currently sporting a Zacks Rank of #1 (Strong Buy).
The Zacks Consensus Estimate for MDB's full-year earnings has moved 16.47% higher within the past quarter. This is a sign of improving analyst sentiment and a positive earnings outlook trend.
Based on the latest available data, MDB has gained about 64% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 24.16% on a year-to-date basis. This means that MongoDB is outperforming the sector as a whole this year.
Breaking things down more, MDB is a member of the Internet - Software industry, which includes 84 individual companies and currently sits at #34 in the Zacks Industry Rank. Stocks in this group have gained about 28.66% 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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MongoDB, Inc. (MDB) : Free Stock Analysis Report
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