Investors focused on the Computer and Technology space have likely heard of MongoDB (MDB), but is the stock performing well in comparison to the rest of its sector peers? Let's take a closer look at the stock's year-to-date performance to find out.
MongoDB is one of 642 individual stocks in the Computer and Technology sector. Collectively, these companies sit at #7 in the Zacks Sector Rank. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven model that highlights a variety of stocks with the right characteristics to outperform the market over the next one to three months. The system emphasizes earnings estimate revisions and favors companies with improving earnings outlooks. MDB is currently sporting a Zacks Rank of #1 (Strong Buy).
Within the past quarter, the Zacks Consensus Estimate for MDB's full-year earnings has moved 16.47% higher. This means that analyst sentiment is stronger and the stock's earnings outlook is improving.
Based on the most recent data, MDB has returned 62% so far this year. Meanwhile, the Computer and Technology sector has returned an average of 20.49% on a year-to-date basis. This means that MongoDB is performing better than its sector in terms of year-to-date returns.
To break things down more, MDB belongs to the Internet - Software industry, a group that includes 84 individual companies and currently sits at #49 in the Zacks Industry Rank. This group has gained an average of 28.39% so far this year, so MDB is performing better in this area.
Going forward, investors interested in Computer and Technology stocks should continue to pay close attention to MDB as it looks to continue its solid performance.
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