MongoDB, Inc. (NASDAQ:MDB) is among the top gainers of the stock market today, skyrocketing 4.01% or (5.03 points) to $130.41 from its previous close of $125.38. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 1377598 contracts so far this session. MDB shares had a relatively better volume day versus average trading capacity of 1.41 million shares, but with a 36.86 million float and a -12.75% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for MDB stock indicates that the average analyst price target is $131 per share. This means the stock has a potential increase of 0.45% from where the MDB share price has been trading recently which is between $123.6 and $131.7989. There are some brokerage firms that offer lower targets than the average, with one of them, even setting their price target at $70.
The shorts are running away from MongoDB, Inc. (MDB) stock. The latest set of short interest data was released on 29 March 2019, and the numbers show a drop in short interest in MDB shares. While short interest still represents only 18.68% of MDB’s float, the number of shares shorted have fallen by -239707. The number of shares shorted fell to 6886573 shares, down from 7126280 shares during the preceding fortnight. With average daily trading volumes at 1794624 shares, days to cover increased to about 3.160296 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Nasdaq Overcomes a Key Benchmark After 6 Months: 5 Picks” and dated April 17, 2019.
During the recent trading session for MongoDB, Inc. (NASDAQ:MDB), the company witnessed their stock drop by $-12.41 over a week and tumble down $-22.36 from the price 20 days ago. When compared to their established 52-week high of $154.8, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 03/25/19. The recent low of $32.35 stood for a -15.76% since 04/25/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for MongoDB, Inc., the two-week RSI stands at 46.01. This figure suggests that MDB stock, for now, is neutral, meaning that the shares are stable in terms of price movement. The stochastic readings, on the other hand, based on the current MDB readings is similarly very revealing as it has a stochastic reading of 14.11% at this stage. This figure means that MDB share price today is being overbought.
Technical chart claims that MongoDB, Inc. (MDB) would settle between $130.25/share to $135.13/share level. However, if the stock price goes below the $122.05 mark, then the market for MongoDB, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $118.73 for its downside target. The stock is currently in the red zone of MACD, with the indicator reading -8.16. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at William Blair, assumed coverage of MDB assigning Outperform rating, according to their opinion released on March 22. Needham analysts again handed out a Buy recommendation to MongoDB, Inc. (NASDAQ:MDB) stock but they lifted target price for the shares in a flash note issued to investors on March 14. The target price has been raised from $108 to $130. Analysts at Monness Crespi & Hardt are sticking to their Buy stance. However, on March 14, they lifted price target for these shares to $150 from $110.
MDB equity has an average rating of 2.19, with the figure leaning towards a bullish end. 16 analysts who tracked the company were contacted by Reuters. Amongst them, 6 rated the stock as a hold while the remaining 10 were split even though not equally. Some analysts rate the stock as a buy or a strong buy while others rated it as a sell. 9 analysts rated MongoDB, Inc. (NASDAQ:MDB) as a buy or a strong buy while 1 advised that investors should desist from purchasing the stock or sell them if they already own the company’s stock.
Moving on, MDB stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 25.82 while for the average stock in the same group, the multiple is 8.03.
MongoDB, Inc. (MDB)’s current-quarter revenues are projected to climb by nearly 72.49% to hit $83.17 million, based on current Zacks Consensus Estimate. The firm’s full-year revenues are expected to expand by over 43.95% from $256180 to a noteworthy $368770. At the other end of the current quarter income statement, MongoDB, Inc. is expected to see its adjusted earnings surge by roughly 44.19% to hit $-0.24 per share. For the fiscal year, MDB’s earnings are projected to climb by roughly -1% to hit $-1.01 per share.