Would I Consider MongoDB Inc. (NASDAQ: MDB) Stock Any Time In The Future?

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The trading price of MongoDB Inc. (NASDAQ:MDB) closed higher on Friday, June 17, closing at $249.75, 6.27% higher than its previous close.

Traders who pay close attention to intraday price movement should know that it fluctuated between $235.96 and $252.16. In examining the 52-week price action we see that the stock hit a 52-week high of $590.00 and a 52-week low of $213.39. Over the past month, the stock has gained 8.60% in value.

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MongoDB Inc., whose market valuation is $16.01 billion at the time of this writing, is expected to release its quarterly earnings report Mar 07, 2022 – Mar 11, 2022. Investors’ optimism about the company’s current quarter earnings report is understandable. Analysts have predicted the quarterly earnings per share to grow by -$0.09 per share this quarter, however they have predicted annual earnings per share of -$0.37 for 2023 and $0.15 for 2024. It means analysts are expecting annual earnings per share growth of 37.30% this year and 140.50% next year.

Analysts have forecast the company to bring in revenue of $266.45 million for the current quarter, with the likely lows of $263.93 million and highs of $276.38 million. From the analysts’ viewpoint, the consensus estimate for the company’s annual revenue in 2023 is $1.18 billion. The company’s revenue is forecast to grow by 35.20% over what it did in 2023.

A company’s earnings reviews provide a brief indication of a stock’s direction in the short term, where in the case of MongoDB Inc. No upward and no downward comments were posted in the last 7 days. On the technical side, indicators suggest MDB has a 100% Sell on average for the short term. According to the data of the stock’s medium term indicators, the stock is currently averaging as a 100% Sell, while an average of long term indicators suggests that the stock is currently 100% Sell.

Here is the average analyst rating on the stock as represented by 1.00 to 5.00, with the extremes of 1.00 and 5.00 suggesting the stock should be considered as either strong buy or strong sell respectively. The number of analysts that have assigned MDB a recommendation rating is 21. Out of them, 3 rate it a Hold, while 15 recommend Buy, whereas 2 assign an Overweight rating. 0 analyst(s) have tagged MongoDB Inc. (MDB) as Underweight, while 1 advise Sell. Analysts have rated the stock Overweight, likely urging investors to take advantage of the opportunity to add to their holdings of the company’s shares.

A quick review shows that MDB’s price is currently -2.28% off the SMA20 and -19.65% off the SMA50. The RSI metric on the 14-day chart is currently showing 44.79, and weekly volatility stands at 7.56%. When measured over the past 30 days, the indicator reaches 8.90%. MongoDB Inc. (NASDAQ:MDB)’s beta value is currently sitting at 0.95, while the Average True Range indicator is currently displaying 24.93. With analysts defining $270.00-$500.00 as the low and high price targets, we arrive at a consensus price target of $373.60 for the trailing 12-month period. The current price is about -8.11% off the estimated low and -100.2% off the forecast high, based on this estimate. Investors will be thrilled if MDB’s share price rises to $368.00, which is the median consensus price. At that level, MDB’s share price would be -47.35% below current price.

To see how MongoDB Inc. stock has been performing in comparison to its peers in the industry, here are the numbers: MDB stock’s performance was 6.27% in the latest trading, and -34.96% in the past year, while Progress Software Corporation (PRGS) has traded 1.80% on the day and positioned 3.69% higher than it was a year ago. Another comparable company Pixelworks Inc. (PXLW) saw its stock close -1.08% lower in the most recent trading session but was down -44.21% in a year. Also in last trading session, the S&P 500 Index has surged 0.22%, while the Dow Jones Industrial also saw a negative session, down -0.13% on the day.

An evaluation of the daily trading volume of MongoDB Inc. (NASDAQ:MDB) indicates that the 3-month average is 1.61 million.

Currently, records show that 67.71 million of the company’s shares remain outstanding. The insiders hold 2.70% of outstanding shares, whereas institutions hold 90.60%. However, since the stock’s price has seen -52.82% year-to-date, investors’ interest is likely to be reignited due to its potential to move even lower.

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