MongoDB, Inc. (MDB) is having its moment in the spotlight Monday as investors await third-quarter earnings results after the closing bell.
What the Street Expects
Analysts are looking for earnings per share of 80 cents alongside revenue of $591.52 million. That's a meaningful bar to clear, but MongoDB has built up some credibility on the earnings front.
Last quarter, the database software company delivered earnings per share of $1.00, handily beating the consensus estimate of 66 cents. Revenue came in at $591.40 million, topping expectations of $552.46 million. According to market data, MongoDB has a solid history of exceeding consensus estimates for both revenue and earnings.
Analysts Adjust Their Targets
Ahead of the earnings release, several Wall Street analysts fine-tuned their outlooks on the stock:
- Rosenblatt analyst Blair Abernethy maintained a Buy rating and kept his $385 price target intact.
- Guggenheim analyst Howard Ma reiterated a Buy rating with a $400 price target.
- Citigroup analyst Tyler Radke maintained a Buy rating and raised his price target from $425 to $440.
That range of targets—$385 to $440—suggests analysts see meaningful upside potential from current levels, though they're not exactly unified on how much.
Technical Picture
From a technical standpoint, MongoDB shares are trading about 0.4% above their 50-day moving average, showing modest short-term bullish sentiment. More notably, the stock sits roughly 35.8% above its 200-day moving average, indicating a strong long-term upward trend.
The 52-week trading range tells an interesting story: MongoDB has moved from a low of $140.78 to a high of $385.44. With the current price near the upper end of that range, the stock may encounter resistance around the $340 level, which could serve as a psychological barrier. On the downside, support likely exists around $320, where buyers have previously shown interest.
Trading volume on Monday hit 1.3 million shares, reflecting healthy market participation. That level of activity suggests the current price movement has sufficient backing, which matters if the upward momentum is going to stick. Higher volume would signal even stronger conviction among buyers.
During Monday's session, the stock opened at $326.43 and climbed to a high of $335.91, reflecting positive sentiment heading into the earnings report. The intraday low of $321.25 could serve as an important support level. If the price dips below that mark, it might trigger additional selling pressure.
The technical indicators point to a generally bullish setup, particularly with MongoDB holding above both key moving averages. Still, traders should watch for potential pullbacks, especially if the stock tests resistance near $340. Monitoring these levels will be crucial for gauging future price action after the earnings results come out.
Current Trading
At the time of writing, MongoDB shares were trading 0.10% higher at $332.69.