TECH - MongoDB Stock Sinks As Market Gains: Here's Why | Benzinga
MongoDB (NASDAQ: MDB) closed at $368.01 in the latest trading session, marking a -0.76% move from the prior day. The stock trailed the S&P 500, which registered a daily gain of 0.09%. Elsewhere, the Dow lost 0.49%, while the tech-heavy Nasdaq added 0.65%.
The database platform's shares have seen an increase of 13.24% over the last month, surpassing the Computer and Technology sector's gain of 7.36% and the S&P 500's gain of 5.78%.
The investment community will be closely monitoring the performance of MongoDB in its forthcoming earnings report. The company is scheduled to release its earnings on May 30, 2024. On that day, MongoDB is projected to report earnings of $0.38 per share, which would represent a year-over-year decline of 32.14%. Meanwhile, the latest consensus estimate predicts the revenue to be $438.44 million, indicating a 19.05% increase compared to the same quarter of the previous year.
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