The stock of MongoDB, Inc. (NASDAQ:MDB) is now priced at $250.72 and the shares are 16.92 points up or 7.24% higher compared to its previous closing price of $233.8. The stock had 1.508 million contracts set over the past session. MDB shares’ daily volume is compared to its average trading volume at 944026 shares. However, it has a float of 50.27 million and although its performance was 15.9% over the week, it’s one to watch. Analysts have given the MDB stock a yearly average price target of $238.5 per share. It means the stock’s downside potential is -4.87% with the MDB share price recently placing at $234.02 to $254.763. However, some brokerage firms have priced the stock below the average, including one that has called $190.
The shorts are climbing into the MongoDB, Inc. stock, with the latest data on short interest released on August 14, 2020, showing that short interest numbers in the MDB shares have risen. Short interest in the stock represents just 15.88% of its float, but the volume has raised by 108236. The volume of shorted shares rised to 7.983 million from 7.875 million shares over the last two weeks. The average intraday trading volume has been 748602 shares, which means that days to cover moved to roughly 10.663702.
In the last trading session, MongoDB, Inc. (NASDAQ:MDB) raised by $34.39 over the week and gained $36.06 on its 20-day. The stock’s high in the recent session is higher when compared to its 52-week high of $254.76. The stock recorded its established 52-week high on 09/01/20.
Since 03/16/20, the stock has traded to a low of $93.81 at 167.26%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge.
Looking at current readings, MongoDB, Inc.’s two-week RSI is 69.69. This suggests that the stock is neutral at the moment and that MDB shares’ price movement remains stable. The stochastic readings are equally revealing at 91.6% meaning the MDB share price is currently in oversold territory.
The technical chart shows that the MDB stock will likely settle at between $258.98 and $267.24 per share. However, if the stock dips below $238.24, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $225.76.
Currently, the stock is trading in the green of MACD, with a reading of 11.23. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at Monness Crespi & Hardt cut their recommendation for MDB from Buy to Neutral in June 05 review. Needham analysts see the stock as a Buy, but they also raised the share’s target price from $170 to $253 in a flash note released to investors on June 02. Monness Crespi & Hardt analysts see the stock as Buy. Nonetheless, the analysts revised the share prices down on March 18, placing it at $150 from $190.
The average rating for the MDB equity is 2.07 and is currently gathering a bullish momentum. Of 14 analysts tracking MongoDB, Inc. polled by Reuters, 6 rated MDB as a hold. The remaining 8 analysts were split evenly. However, the split wasn’t equal as a majority (8) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.
The stocks P/S ratio currently stands below the group’s average of 40.9. MongoDB, Inc. has its P/E ratio at 231.2, which means that the stock is currently trading at a premium relative to the 13.6 industry average.
Zacks Consensus Estimate forecasts that the current-quarter revenues for MongoDB, Inc. (NASDAQ:MDB) will decrease by about -99.9%, which will see them reach $127 million. The company’s full-year revenues are, however, expected to increase by about 25.49%, up from $422 million to $529 million. MDB’s expected adjusted earnings should surge almost 50% to end up at -$0.39 per share, while for the fiscal year, analysts project the company’s earnings to grow by about 26% to record -$1.26/share.