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MongoDB (MDB) Gains As Market Dips: What You Should Know

MongoDB (MDB) closed the most recent trading day at $576.77, moving +0.96% from the previous trading session.

This story originally appeared on Zacks

In the latest trading session, MongoDB (MDB) closed at $576.77, marking a +0.96% move from the previous day. This move outpaced the S&P 500's daily loss of 0.35%.

- Zacks

Heading into today, shares of the database platform had gained 25.78% over the past month, outpacing the Computer and Technology sector's gain of 8.33% and the S&P 500's gain of 7.11% 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 -$0.41 per share. This would mark a year-over-year decline of 32.26%. Meanwhile, our latest consensus estimate is calling for revenue of $203.46 million, up 34.94% from the prior-year quarter.

MDB's full-year Zacks Consensus Estimates are calling for earnings of -$1.17 per share and revenue of $808.95 million. These results would represent year-over-year changes of -18.18% and +37.02%, respectively.

Investors might also notice recent changes to analyst estimates for MDB. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.

Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. MDB currently has a Zacks Rank of #3 (Hold).

The Internet - Software industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 176, which puts it in the bottom 31% of all 250+ industries.

The Zacks Industry Rank gauges the strength of our individual 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.

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